Recyda, a Frankfurt am Main, Germany-based recyclability database startup, raised its first institutional funding from Futury Capital.
The amount of the deal was not disclosed.
The company intends to use the funds to accelerate business growth.
Co-founded by Christian Knobloch, Anna Zießow and Vivian Loftin, Recyda develops a database that centralizes information on the most important parameters for packaging recyclability at an international level. This helps companies along the packaging value chain assessing the recyclability of consumer goods packaging solutions. Specifically, the software tool consolidates research on country-specific recyclability to embed it into a web application with a comprehensive database and advanced packaging management features. By visualizing how changes in the packaging specifications affect recyclability, the tool allows brand owners, retailers, and packaging producers to align with country-specific requirements and optimize their impact to contribute to the circular economy.
FinSMEs
17/08/2021