METYCLE raises €14M Series A for metal recycling platform

METYCLE, a digital platform for international secondary metal trade, has raised a €14.1M Series A funding round. The round was led by 2150 with investment from existing investors DFF Ventures, Market One Capital, Partech, and Project A.

The company will use the new funds to develop further its data, software, and AI backbone for the metal recycling industry. 

Founded in 2022 by industry experts Sebastian Brenner and Rafael Suchan, the company aims to streamline and bring transparency to the global metal recycling market. The platform connects verified buyers and sellers directly, eliminating intermediaries to offer better prices and increased efficiency. 

METYCLE takes physical ownership of the metals and ensures delivery according to agreed terms, providing full transparency throughout the transaction process. For buyers, METYCLE offers access to a wide network of reputable suppliers and employs AI-based quality assessments to ensure material standards. Sellers benefit from a straightforward listing process and a platform that actively works to find the best destinations for their products.

Its AI-powered sorting process determines the physical and chemical properties of shredded recyclable metals in real time - representing a significant reduction in manual labour and CO2 emissions as well as improved recycling ratios and material recovery. 

“Metal recycling is crucial for the transition to a carbon-neutral world. Recycling does not only ensure circularity of metals, but also helps to reduce carbon dioxide emissions by up to 95% compared to primary metal production,” says Rafael Suchan, co-founder of METYCLE. “Today, already more than one third of global metal production is based on recycled metals and METYCLE makes the global metal recycling industry more efficient and transparent with the help of state-of-the-art technology.”

“Our platform is revolutionizing how secondary metals are traded globally,” added Sebastian Brenner, co-founder of METYCLE. “By rolling out METYCLE’s AI-based sorting and quality certification, we’re creating unprecedented transparency and trust in the metal recycling industry.”