Recyda secures 6.3 million euros in Series A

Recyda's platform helps multinational companies to efficiently manage their packaging data and meet international sustainability requirements

Freiburg, October 24, 2024 - Freiburg-based startup Recyda, provider of a software solution for sustainable packaging management, has raised 6.3 million euros in a Series A financing round. The round was led by Cusp Capital, with participation from existing investors such as Speedinvest, Futury Capital and the Auxxo Female Catalyst Fund.

Focus on international growth

With the fresh capital, Recyda plans to accelerate its international expansion and further advance product development. The company's SaaS platform is aimed at global packaging manufacturers, brand owners and retailers to efficiently manage packaging data and meet growing international sustainability requirements. Recyda's customers to date include well-known companies such as Beiersdorf, Kao and Trolli.

Packaging industry under pressure

Due to new legal requirements, such as the EU Packaging and Packaging Waste Regulation, the packaging industry is under increasing pressure to make its packaging more sustainable. Recyda offers a platform that helps companies assess the recyclability of their packaging and reduce their environmental footprint. This includes analyzing disposal fees and compliance with international recycling standards.

Recyda has created a strong database that helps companies to efficiently manage their sustainable packaging portfolios. The startup has the potential to become the leading platform for sustainable packaging worldwide.

Dr. Maximilian Rowoldt, General Partner at Cusp Capital

Cusp Capital and the other investors are convinced that Recyda can play a central role in the transformation towards a circular economy.

Further plans

Recyda plans to invest the new funds in international expansion and the further development of its software. The aim is to strengthen its market presence in new regions and support the packaging industry on its way to a circular economy. With its solution, the company wants to set standards in the field of sustainable packaging management and support global companies in developing sustainable packaging solutions.