Recyda offers a software-as-a-service solution for the digital management and analysis of packaging data. Companies can use their data to obtain an assessment of recyclability based on international regulations.
Recyda is using 1.75 million euros from a recently concluded new financing round to further develop its SaaS solution. The software makes it easier for internationally orientated companies, Manage packaging digitally to achieve circular economy targets. The new financing round is led by an investor consortium consisting of the lead investor Speedinvest, the existing investor Futury Capital from the 2021 pre-seed round, the Auxxo Female Catalyst Fund and renowned business angels such as Dr Stephan Rohr (TWAICE), Benedikt Franke (Helpling Group) and Martin Weber (one - fıve). Recyda intends to use the capital to focus on the focus on expanding international markets, acquiring new customers and product development.
"This financing round is a real milestone for us. We are delighted that several investors from different sectors have directly recognised the innovative added value of our software and want to use their investment to drive our product and our vision forward."
Vivian LoftinCo-Founder and Co-CEO of Recyda
The company offers a software-as-a-service solution with which companies can Manage packaging data digitally and carry out analyses can. A core component of the solution is the Digital assessment of the recyclability of packaging based on international regulations. The all-in-one solution enables companies to efficiently compare packaging solutions and make the best choice for their specific requirements. The software enables detailed analyses of, for example, the prevailing recycling infrastructure, the applicable licence fees and the associated options for eco-modulation or plastic tax.
Well-known customers are already convinced by Recyda's innovative solution, such as Beiersdorfwho have been working with the start-up since the beginning of 2022. Recyda's software supports the Group in optimising the Evaluation of the recyclability of packaging and its optimisation internationally for all types of packaging and brands to be carried out.
"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 ranges and output digital evaluations and reports for their optimisation in a matter of seconds. This makes a significant contribution to remaining competitive in a rapidly changing market environment with a multitude of different legal requirements."
Eva Bredehorst, Global Packaging Sustainability Manager at Beiersdorf
It is not only the EU Commission's latest draft legislation for a new EU packaging regulation that poses major challenges for the packaging industry. Other legal and financial requirements are also putting the packaging industry under increasing pressure internationally. Pressure to design packaging in such a way that it can be recycled are. However, this is very time-consuming due to country-specific differences. At present, brand manufacturers, retail chains and packaging manufacturers have to keep track and monitor changes themselves.
"We are very familiar with the current challenges facing the packaging industry and the numerous difficulties that companies are currently facing. With this knowledge, we have developed a software solution that provides targeted support in implementing the requirements for packaging solutions for different markets and significantly optimising reporting. With our software, we want to make a contribution to a sustainable future in which resources are used sensibly and valuable materials are kept in circulation."
Christian KnoblochCo-Founder and Co-CEO of Recyda
The start-up's solution is aimed at international packaging manufacturers, brand owners and retailers and supports them in particular in the areas of packaging R&D, master data management and financial forecasting. The seed investment will enable the start-up to rapidly expand its market presence and further develop the product.
"Our software is not only backed by first-class investors, but also by an incredible amount of expertise and drive in software development. With the new capital, we can bring more talent on board to realise new ideas and customer requirements. People should not lose sight of Recyda, as we will be introducing exciting innovations to our software in the coming months."
Anna ZießowCo-Founder and Co-CEO of Recyda
Source: Recyda
