Freiburg-based cleantech company Recyda, which helps companies assess the recyclability of packaging using software that integrates country-specific regulations and waste management data, has raised €6.3 million in a Series A funding round. The round was led by Cusp Capital.
- Founded in 2020 by Vivian Loftin, Christian Knobloch, Anna Zießow, and Sebastian Pfingsten, Recyda develops a software platform that helps businesses assess packaging recyclability. By integrating country-specific regulations and waste management data, Recyda simplifies the analysis of packaging portfolios, the calculation of EPR fees, and plastic taxes while centralizing all packaging data.
- The platform enables efficient navigation of complex regulations and includes features like real-time impact assessments, a packaging comparison database, and change-tracking tools. With clear insights into recyclability and cost factors, Recyda is dedicated to reducing packaging waste and promoting sustainability in the industry.
- International firms, including Adapa, dmk Group, Trolli, Sonoco,sdorf trust Recyda Zott, and Beier.
Details of the deal
- The Series A round was led by Cusp Capital, an Essen-based venture capital firm that invests in early-stage European companies poised to innovate in software and technology. With over €600 million invested in notable startups like Zalando, Delivery Hero, Klarna, Scalable Capital, data Artisans, Personio, and SoSafe.
“Recyda has built the data foundation to manage sustainable packaging portfolios across functions (like Sustainability & Finance) and the entire packaging value chain. Given Recyda’s deep solution that is already trusted by leading brands, Recyda has the potential to become the leading operating system for sustainable packaging globally," General Partner at Cusp Capital, Dr Maximilian Rowoldt, commented.
- The investment also received support from Speedinvest, Futury Capital, the Auxxo Female Catalyst Fund, and several business angels, including Dr. Stephan Rohr, Benedikt Franke, and Martin Weber.
- Recyda will use the €6.3 million from its Series A funding to enhance its platform and expand its team, enabling companies to assess packaging recyclability better and navigate sustainability regulations. This investment aims to drive meaningful change in packaging sustainability while aligning with EU targets.
