TerraCycle, a Trenton, NJ-based company which operates specialty recycling services in 20 countries, completed a $25m Series A “Founding Investors” capital raise.
Investors include P&G, Nestlé, SUEZ, Aptar, Sky Ocean Ventures, ImpactAssets and Quadia.
The capital is expected to fund operations to profitability.
Manager of Loop Global Holdings LLC,
Led by Tom Szaky, CEO, TerraCycle is the provider of Loop, a global reuse platform. Launched in May 2019, Loop enables consumers to shop for products in durable packaging that is used, cleaned, refilled and used again, and then fully recyclable after 20 to 100 uses. It enables brands to develop more valuable and distinctive products and packaging and provides consumers with functional and “milk-man model” deposit/return packaging. To date, Loop has enlisted over 100 brands globally and offers over approximately 400 products. It is available in the continental United States, the UK and France. By the end of 2021 Loop will also be operating in Canada, Japan and Australia and be available in approximately 1,000 retail stores in five countries.
TerraCycle operates specialty recycling services in 20 countries, working with consumer product companies, retailers, cities and facilities to recycle products and packages that would otherwise be incinerated, including contact lenses, beauty care, coffee capsules, oral care, cigarette butts and PPE.