Resourcify, headquartered in Hamburg and specializing in waste management and recycling solutions, revealed on Wednesday that it successfully secured €14 million in a Series A funding round, with Vorwerk Ventures as the leading investor.
The funding round also saw participation from Revent, Ananda Impact Ventures, Speedinvest, BonVenture, and WEPA Ventures.
With this recent injection of capital, the German company aims to enhance its Software as a Service (SaaS) offering across various industries. Additionally, it plans to maintain its focus on waste “take-back” programs that assist businesses in achieving their sustainability objectives, while also expanding its market leadership in Europe and the United Kingdom.
Resourcify intends to bolster its commercial teams to drive revenue growth and elevate the recycling experience throughout the entire value chain. To date, the platform has successfully processed more than 500,000 tonnes of waste, with plans to further increase carbon dioxide savings for both its clients and the environment.
Gary Lewis, CEO of Resourcify, expressed, “Reaching a Series A is a significant milestone that enables us to expand our presence across Europe, reducing waste and cost savings for companies. We’ve already managed €100 million worth of waste, and we anticipate another €100 million through our partnership with Interzero. With a dedicated team and excellent customers, our goal is to double these numbers next year, positioning ourselves as Europe’s leading circular platform.”
Challenges Addressed By Resourcify: What Problems Does It Tackle?
Waste poses a pressing challenge for individuals, communities, and the environment. To address this, companies must enhance their waste management and recycling efforts. In a market estimated to reach approximately €800 billion by 2030, the German company Resourcify digitalizes and streamlines this process.
Resourcify’s platform serves as a bridge between global companies and local recyclers, optimizing waste sorting and recycling procedures. This not only enhances existing processes but also results in substantial time savings, amounting to hundreds of hours per client, while simultaneously reducing overall costs.
Felix Heinricy, Resourcify’s Chief Business Development Officer (CBDO) and Managing Director, affirms, “We have established a robust business model that is applicable across various industries and markets. Now, we are poised to expand our service offerings to bring the concept of a circular economy to life for an even broader range of customers.”
Resourcify: Paving the Way for a Zero-Waste Future
Founded by Felix Heinricy, Gary Lewis, and Pascal Alich, Resourcify is driven by a bold mission to usher in a zero-waste future.
The company’s innovative platform serves as a vital link between global enterprises and local recyclers, optimizing the sorting and recycling processes. This optimization not only enhances existing procedures but also results in significant time savings, equating to hundreds of hours of labor saved per client and a reduction in overall costs.
Resourcify’s recycling platform empowers businesses of all sizes to efficiently manage, monitor, and enhance their recycling efforts with minimal administrative overhead, leading to cost savings of up to 40 percent compared to traditional waste management methods.
Currently, the company enjoys the trust of a multitude of prominent global companies and organizations, including industry leaders such as McDonald’s, Hornbach, Johnson & Johnson, Frankfurt Airport, UK Bonn, and many more.
About the Investor
Vorwerk Ventures is an independent venture capital fund with €150 million in capital and €400 million in assets under management.
This VC firm focuses on supporting founders who are building sustainable business models with a positive impact. Based in Berlin, Vorwerk Ventures actively seeks out promising opportunities, typically making Seed/Series A investments ranging from €1 million to €10 million. Moreover, they maintain a commitment to ongoing support, reserving up to €15 million for upcoming financing rounds.
Dominik Steinküler, a Partner at Vorwerk Ventures, expressed their enthusiasm for Resourcify’s platform and the tangible benefits it provides to its users. He highlighted how Resourcify’s digitization of recycling processes unlocks significant efficiency improvements and enables superior coordination throughout the entire value chain, thus laying the foundation for a truly circular economy. The Vorwerk Ventures team is inspired by Resourcify’s passionate commitment to creating a zero-waste future, and they are excited to support Resourcify on this impactful mission.