Hamburg-based Resourcify, a waste management and recycling platform, announced on Wednesday that it has raised €14M in a Series A round of funding led by Vorwerk Ventures.
Revent, Ananda Impact Ventures, Speedinvest, BonVenture, and WEPA Ventures also participated in the round.
With the latest capital infusion, the German company says it intends to enhance its software as a service (SaaS) offering across multiple industries.
It also aims to continue focusing on waste ‘take-back’ programmes that help companies achieve their sustainability goals and expand their market leadership in Europe and the United Kingdom.
The company will also focus on growing its commercial teams to scale revenue and create an enhanced recycling experience across the entire value chain.
To date, Resourcify has processed over 500,000 tonnes of waste via the platform and plans to further increase the CO2 savings for its clients and the environment.
Gary Lewis, CEO of Resourcify, says, “Reaching a Series A is an important milestone which helps us to grow our reach across Europe to reduce waste and save companies money in the process. By now, we’ve reached €100m waste under management, with another €100m coming through our partnership with Interzero. With a strong team, and fantastic customers our focus is to double this again next year, to build Europe’s leading circular platform.”
What does Resourcify solve?
Waste is a pressing issue for individuals, communities and the environment, and companies need to tackle this by improving their waste management and recycling.
The German company digitises this process for them in a market projected to be worth around €800B by 2030.
Resourcify’s platform connects global companies with local recyclers to optimise their sorting and recycling, improving existing processes, saving hundreds of hours of labour per client and reducing total costs.
Felix Heinricy, Resourcify’s CBDO and Managing Director, says “We have built a great business model that is applicable across multiple verticals and markets, and we are now looking to offer more services to bring a truly circular economy to life for even more customers.”
Resourcify: Towards zero-waste future
Founded by Felix Heinricy, Gary Lewis and Pascal Alich, Resourcify is on a mission to enable a zero-waste future.
The company’s platform connects global companies with local recyclers to optimise their sorting and recycling, improving existing processes, saving hundreds of hours of labour per client, and reducing total costs.
The recycling platform enables all businesses to manage, track, and improve their recycling with minimal administration and saving up to 40 per cent of the costs compared to conventional waste management.
Currently, the company is trusted by thousands of leading companies and organisations around the globe, including McDonald’s, Hornbach, Johnson & Johnson, Frankfurt Airport, UK Bonn, and more.
Vorwerk Ventures is an independent €150M Venture Capital Fund with €400M in assets under management.
The VC invests in founders with sustainable business models that have a positive impact.
Headquartered in Berlin, the VC constantly looks-out for promising opportunities with Seed/Series A investments of €1M to €10M, and ensures continuous support by reserving up to €15M for upcoming financing rounds.
Dominik Steinküler, Partner at Vorwerk Ventures, says, “We are impressed by Resourcify’s platform and the tangible benefits it offers its users. By digitising recycling, they unlock significant process efficiencies and enable a superior coordination of the entire value chain, paving the way for a truly circular economy. The team is highly passionate and determined to make an impact towards a zero-waste future, and we are excited to back them on their mission.”