Funding Announcement: Resourcify Secures €14 Million in Series A Round
Resourcify, a waste management and recycling platform, has successfully raised €14 million in a Series A funding round. The funding round was led by Vorwerk Ventures, with participation from Revent, Ananda Impact Ventures, Speedinvest, BonVenture, and WEPA Ventures. This funding will enable Resourcify to further develop its innovative digital solutions and contribute to the transformation of waste management processes.
Key Takeaway
Resourcify has secured €14 million in Series A funding led by Vorwerk Ventures, allowing it to accelerate its mission of digitizing waste management and revolutionizing the recycling industry.
Resourcify’s Mission: Combating Waste and Empowering Companies
Resourcify, founded in 2018 by CEO Gary Lewis and Felix Heinricy, aims to address the pressing issue of recycling and waste management. The platform strives to promote the recycling, remanufacturing, and re-use of products and materials by facilitating connections between global corporations and local recyclers. Through its cloud-based recycling platform, Resourcify aims to combat waste, eliminate harmful practices like burning, and empower companies to effectively manage waste on a large scale.
A Comprehensive Solution for Waste Management
Resourcify differentiates itself by offering a complete solution across the entire value chain of waste management, recycling, and circularity. The platform analyzes different recycling opportunities for companies, helping them identify local recycling routes and improve their recycling reporting and invoice management practices. Leveraging a vast database of materials, recyclers, and recycling routes, Resourcify utilizes machine learning to highlight opportunities for cost savings.
Resourcify’s customer-accessible dashboard enables businesses to manage recycle pickup locations, on-site handling of recyclable materials, materials transport, and more. The platform’s innovative approach utilizes the power of data and technology to drive sustainable waste management practices.
Modernizing Waste Management
Resourcify recognizes the urgency of modernizing waste management processes and minimizing environmental impact. Despite the existing market players, Resourcify’s unique position lies in its ability to create fully circular material loops and provide an end-to-end solution. The company has developed circular programs in several countries with global players like Johnson & Johnson, setting it apart from competitors.
Impressive Growth and Expansion
With over €115 million worth of waste managed for 15,000 businesses and more than 50 paying customers, including McDonald’s, Resourcify’s revenue has tripled year-over-year. The company currently has around 60 employees and has been valued at approximately €50 million (~$53.37 million) after its latest funding round. The new funding will be utilized to expand its customer base and venture into international markets.
“One notable aspect of waste management and recycling is its resilience to economic fluctuations,” says Gary Lewis. “Even during tough economic times, the need for waste collection and recycling persists. This positions Resourcify favorably for growth, regardless of potential economic challenges. Moreover, our commitment to providing end-to-end value chain solutions nurtures lasting client partnerships, encouraging our clients to stay with us for the long term.”
Resourcify is unlocking the potential of digital solutions in waste management, revolutionizing the industry, and driving sustainability on a global scale.
