Resourcify, a Hamburg-based startup operating in the waste management and recycling arena has raised €14 million in a Series A funding round. The company intends to use the investment to further enhance its SaaS offering in tandem with expanding its footprint across the UK and Continental Europe.
The Series A round was led by Vorwerk Ventures, with Revent, Ananda Impact Ventures, Speedinvest, BonVenture, and WEPA Ventures participating.
Founded in 2015, Resourcify helps companies manage and improve recycling efforts. The service offers automated workflows that make recycling more efficient and transparent, upping the mass a company can recycle, all the while reducing costs. The ultimate goal for Resourcify is to make it easier for any company to achieve zero-waste targets.
According to the company, since launching, it's processed more than 500,000 tonnes of waste, and has plans to further increase CO2 savings, presumably via the aforementioned further enhancements to its SaaS platform.
On the announcement of a €3 million raise back in mid-2021, Resourcify was in use in 7 countries across Europe, 220 waste management companies, and managing over €25 million worth of waste at 4,300 locations.
Resourcify CEO Gary Lewis adds:
“Reaching a Series A is an important milestone that helps us to grow our reach across Europe to reduce waste and save companies money in the process. By now, we’ve reached €100 million in waste under management, with another €100 million 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.”
Lead image: The Resourcify executive team. Photo: Uncredited.