Austrian Speedinvest joins €14M Series A round for Resourcify
Hamburg-based Resourcify, the waste management and recycling platform, has raised €14 million in a Series A funding led by Vorwerk Ventures. Resourcify intends to enhance its software as a service (SaaS) offering across multiple industries.
- Founded in 2015, Resourcify aims to enable a zero-waste solutions via its recycling platform. It enables businesses to manage, track, and improve their recycling while having less administration, and saving up to 40% of the costs compared to conventional waste management.
- Resourcify claims it has processed over 500,000 tonnes of waste via the platform, and plans to further increase the CO2 savings for its clients and the environment.
- The round was led by German independent Vorwerk Ventures Capital fund. Revent, Berlin-based early-stage tech fund, Ananda Impact Ventures, a pan-European investment remit, managing €200 million in four Core Impact Funds, Vienna-based VC firm Speedinvest, BonVenture, an investment company in the German-speaking region that focuses on the social impact, and WEPA Ventures, a corporate venture capital firm based in Arnsberg, also participated in the investment.
“The waste industry is growing massively due to regulatory tailwinds and increasing consumer pressure. As a result, recycling and circularity are becoming strategic priorities for large companies around the world. We are excited to continue to support a company that is on track to become the digital backbone of the circular economy!”Andreas Schwarzenbrunner, Partner at Speedinvest, commented.
- With this round of investment, Resourcify intends to enhance its software as a service offering across multiple industries, continue to focus on critical waste ‘take-back’ programs that enable companies to reach their sustainability goals, and expand into Europe and the UK.