Freiburg-based greentech Recyda receives €1.75 million investment to further develop its innovative software for the packaging industry
Freiburg, 29 March 2023. Recyda has received €1.75 million from a recently closed new funding round to further develop its 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 specialises in the software-supported evaluation of the recyclability of packaging and is now being strengthened with fresh capital. The new financing round of the startup, 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 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 expanding into international markets, acquiring new customers and product development.
"This funding round is a real milestone for us," says Vivian Loftin, Co-Founder and Co-CEO of Recyda. "We are pleased that several investors from different sectors directly recognise the added innovative value of our software and want to bring our product and our vision forward with their investment."
New solution for current challenges
Recyda offers a Software as a Service (SaaS) solution with which companies can digitally manage packaging data and carry out evaluations. 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 needs. Recyda's software enables detailed evaluations of, for example but not limited to, the prevailing recycling infrastructure, the applicable Extended Producer Responsibility (EPR) fees and related options for eco-modulation or the plastic tax. Through the long-term management and optimisation of packaging, Recyda offers companies from a wide range of sectors, like the Fast Moving Consumer Goods, the opportunity to pursue and achieve their Circular Economy goals in an innovative and efficient way.
Well-known customers are already convinced by Recyda's innovative solution, such as Beiersdorf, who have been working with the start-up since the beginning of 2022. Recyda's software supports the group in assessing the recyclability of packaging and optimising it internationally for all packaging types and brands. Eva Bredehorst, Global Packaging Sustainability Manager at Beiersdorf, explains: "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 optimisation within seconds. This makes a significant contribution to remain competitive in a rapidly changing market environment with a multitude of different legal requirements."
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. Other legal and financial requirements are also putting the packaging industry under increasing international pressure to design packaging in such a way that it is recyclable. Due to country-specific differences, however, this is very time-consuming. Currently, brand manufacturers, retail chains and packaging producers themselves 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. With this knowledge, we have developed a software solution that specifically supports the implementation of sustainable packaging solution requirements for different markets and significantly optimises 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," says Christian Knobloch, Co-Founder and Co-CEO of Recyda.
Internationalisation and product development: the next phase is upon us
Recyda's solution is aimed at internationally positioned packaging manufacturers, brand owners as well as retailers and in particular supports them in the areas of packaging R&D, master data management and financial forecasting. With the seed investment, the start-up can rapidly expand its market presence and further develop the product.
"Behind our software are not only first-class investors, but also an incredible amount of know-how and drive in software development. With the new capital, we can bring more talent on board to implement new ideas and customer wishes," Anna Zießow, Co-Founder and Co-CEO of Recyda, is pleased to say. "You shouldn't lose sight of Recyda, because we will be introducing exciting innovations to our software in the coming months."