Recyda has received €1.75 million (US$1.9 million) from a new funding round to further develop its Software as a Service (SaaS) solution. The software assists multinational companies by offering an all-in-one solution to digitally manage their packaging portfolios and contribute to circular economy targets. Recyda specializes in the software-supported evaluation of the recyclability of packaging and is now being strengthened with fresh capital.
Source: PackagingInsights
The new financing round of the start-up, founded by Vivian Loftin, Anna Zießow and Christian Knobloch, is led by an investor consortium consisting of the lead investor Speedinvest, the existing investor Futury Capital from the pre-seed round 2021, the Auxxo Female Catalyst Fund and other businesses such as Dr. Stephan Rohr (Twaice), Benedikt Franke (Helpling Group) and Martin Weber.
Recyda intends to use the capital to expand into international markets, acquire new customers and develop products.
This funding round is a real milestone for us. We are pleased that several investors from different sectors directly recognize the added innovative value of our software and want to bring our product and our vision forward with their investment.
Vivian Loftin, co-founder and co-CEO of Recyda
New solution for current challenges
Recyda offers a SaaS solution where companies can digitally manage packaging data and conduct evaluations. A core component of the solution is the digital assessment of the recyclability of packaging based on international regulations, explains the company.
The all-in-one solution enables Recyda to efficiently compare packaging solutions and make the best choice for their needs. Furthermore, the software enables detailed evaluations of, for example, the prevailing recycling infrastructure, the applicable Extended Producer Responsibility fees and related options for eco-modulation or the plastic tax.
Through long-term management and optimization of packaging, Recyda offers companies from a wide range of sectors, such as Fast Moving Consumer Goods, the opportunity to pursue and achieve their circular economy goals innovatively and efficiently.
Beiersdorf has been working with the start-up since the beginning of 2022. Recyda’s software supports the group in assessing the recyclability of packaging and optimizing it internationally for all packaging types and brands.
Recyda’s software as a service solution helps to identify the most recyclable solution as early as the packaging development stage, and also to map existing large packaging portfolios and output digital analyses and reports on their optimization within seconds. This makes a significant contribution to remain competitive in a rapidly changing market environment with many different legal requirements.
Eva Bredehorst, global packaging sustainability manager, Beiersdorf
High pressure on the packaging industry
It is not only the EU Commission’s recent draft legislation for a new EU Packaging and Packaging Waste Regulation that poses major challenges for the packaging industry.
Recyda highlights that other legal and financial requirements are also putting the packaging industry under increasing international pressure to design packaging so it is recyclable.
Due to country-specific differences, however, making packaging recyclable is very time-consuming, explains the company. Currently, brand manufacturers, retail chains and packaging producers must keep track of the situation and monitor changes.
We know the current challenges of the packaging industry very well and the numerous difficulties that companies are currently facing.
Christian Knobloch, co-founder and Co-CEO, Recyda
With this knowledge, Recycda developed a software solution that specifically supports implementing environmentally sustainable packaging solution requirements for different markets and significantly optimizes reporting obligations.
With our software, we want to contribute to a sustainable future in which resources are used sensibly and valuable materials are kept in the cycle.
Christian Knobloch, co-founder and Co-CEO, Recyda
Internationalization and product development
Recyda’s solution is aimed at internationally positioned packaging manufacturers, brand owners and retailers and supports them in the areas of packaging R&D, master data management and financial forecasting.
With the seed investment, the start-up says it can rapidly expand its market presence and further develop the product.
Behind our software are first-class investors and an incredible amount of know-how and drive in software development. With the new capital, we can bring more talent to implement new ideas and customer wishes.
Anna Zießow, co-founder and Co-CEO, Recyda
