DePoly, a Sion, Switzerland-based green-tech company, raised CHF12.3M in Seed funding.
The round was co-led by BASF Venture Capital and Wingman Ventures, with the participation of Beiersdorf, Infinity Recycling, CIECH Ventures, Angel Invest, and others.
The company intends to use the funds to scale up its technology to reduce plastic waste.
Launched in 2020 by Samantha Anderson (CEO), Bardiya Valizadeh (CTO), and Christopher Ireland (CSO), DePoly develops a solution addressing global plastic problems. Their chemical recycling technology converts post-consumer and post-industrial plastic waste streams into their main raw components, dealing with dirty and mixed plastics, fabrics, and fibers while recovering other materials. DePoly has built and operates a pilot plant that processes a capacity of 50 tonnes per year of these complex PET or polyester plastic streams, showcasing the scope and flexibility of how the technology works for various industries ranging from post-consumer packaging to textiles, fashion, and post-industrial streams. Currently, the company is working on building a new showcase plant with a capacity of 500 tonnes per year to demonstrate the technology at a commercial scale.
FinSMEs
27/06/2023