Metaloop raises €16 million in Series A round

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

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

This financing supports our growth strategy to make the metals recycling market more efficient. Our goal is to help decarbonize our planet and be a leader in our industry.

Jan Pannenbäcker, co-founder of Metaloop

The funding received will be used to drive Metaloop's international growth and strengthen its sales and operations team in metals recycling. Additionally, 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 marketplace.

Rick Heitzmann, General Partner and Co-Founder of FirstMark

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

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