Metaloop raises €16 million in Series A round

A major financing for recycling technology in Europe: Metaloop raises €16 million in Series A round to accelerate growth and reduce CO2 emissions.

Graz - Metaloop, a leading company in the metal recycling industry, has successfully closed a Series A financing round of over 16 million euros. The round was led by New York-based FirstMark Capital and included investments from Silence VC and existing investors Statkraft Ventures and FJ Labs.

This funding supports our growth strategy to make the metal recycling market more efficient. Our goal is to promote the decarbonization of our planet and to be a market leader in our industry.

Jan Pannenbäcker, co-founder of Metaloop

The funding received will be used to drive Metaloop's international growth and strengthen the team in the areas of sales and operations in metal recycling. In addition, the company plans to expand its product development and data teams to further develop its digital enterprise software platform.

We see Metaloop as a company with strong organic growth and world-class customer retention. Together we will strive to achieve a leading position in the global market.

Rick Heitzmann, General Partner and co-founder of FirstMark

Metaloop provides solutions for companies in the metals industry to facilitate the management of scrap metal and overcome logistics and financing challenges. The company equips vendors with advanced software to ensure transparency in processes and pricing and to ensure smooth operations across multiple locations. In the background, Metaloop coordinates logistics, optimizes financing options and provides smelters with access to scarce secondary raw materials. The company works primarily with multinational manufacturing companies to increase revenue from scrap metal and provide relevant data.

The global metals industry is worth over 4 trillion US dollars and is growing by 5% annually. Metaloop helps to conserve natural resources and reduce energy consumption and pollution from mining by recycling scrap metal. This leads to significant savings in production and contributes to reducing the metal industry's carbon footprint.