Freiburg, 29 October 2024 – Recyda enables multinational companies to digitally manage their packaging portfolios and comply with international sustainability requirements. Now the company  has successfully secured €6.3 million in funding from Cusp Capital as lead investor, a prominent venture capital firm focused on early-stage investments in European technology companies.

Pressured by new legislative mandates, such as the Packaging and Packaging Waste Regulation (PPWR), the packaging industry faces significant challenges as they are bound to comply with ambitious targets concerning all packaging entering the EU market. Recyda offers a Software as a Service (SaaS) platform for sustainable packaging management which helps internationally positioned packaging manufacturers, brand owners, and retailers manage packaging data effectively and adhere to the complex international landscape of sustainability requirements. The team is already working with leading brands in the FMCG sector such as Beiersdorf, Kao, Trolli and more and plans to drive their expansion forward with the new capital.

The Series A round was led by Cusp Capital, a leading early-stage technology investor from Essen, Germany. Existing investors also participated, building on their previous investment in 2023, which included contributions from a consortium featuring Speedinvest, Futury Capital, the Auxxo Female Catalyst Fund, and notable business angels such as Dr. Stephan Rohr (TWAICE), Benedikt Franke (Planetly / Helpling), and Martin Weber (one • five).

Recyda's solution has not only gained the confidence of investors but also attracted an impressive lineup of well-known enterprise customers. Kao, one of Japan’s leading consumer goods manufacturers well known for brands such as Goldwell, Guhl and John Frieda, has been working with Recyda from early on. Kao stresses the importance of working with digital solutions to transition to a circular economy. Recyda's software supports the company in assessing the recyclability of packaging and optimising it internationally for all packaging types and brands. Daniel Nebe, Senior Manager Package Development, Consumer Care Business, AEMEA, explains: "Recyda's solution offers key insights early in the packaging development process, helping us identify the most recyclable options. Recyda’s solution is a great contribution to the industry’s joint efforts to reduce our environmental footprint."

Recyda, founded by Christian Knobloch (CEO), Vivian Loftin (CMO), and Anna Zießow (CPO), plans to use the new funds to expand into international markets, acquire new customers, and accelerate product development. "This funding round empowers us to further build on our current growth," says Christian Knobloch, Co-Founder and CEO of Recyda. "Cusp Capital’s investment thesis about funding a new generation of tools at the intersection of digitization and sustainability perfectly aligns with our mission. With the team’s impressive track record, they are a strong partner on our side and we are excited to be working together to accelerate our expansion internationally, both in terms of customers as well as the regional coverage in our software."

„We strongly believe that packaging will move from a ‘use and dispose’ regime to circularity. Recyda has built the data foundation to manage sustainable packaging portfolios across functions (like Sustainability & Finance) and the entire packaging value chain. Given Recyda’s deep solution that is already trusted by leading brands, Recyda has the potential to become the leading operating system for sustainable packaging globally.” says Dr. Maximilian Rowoldt, Investor & General Partner at Cusp Capital.

Recyda: Transforming Packaging Sustainability

Recyda’s SaaS solution is designed to digitally manage packaging data along the packaging value chain and conduct thorough evaluations. At the heart of the platform is the digital assessment of packaging recyclability, Extended Producer Responsibility (EPR) Fees and other sustainability aspects, adhering to stringent international standards. 

Recyda's solution is designed for the entire value chain to be the operating system for the packaging industry. The solution supports companies in packaging R&D, master data management, and financial reporting and forecasting. With the Series A investment, the company is set to rapidly expand its market presence and further develop its product. By extending its reach into new markets and refining its product offerings, Recyda aims to set new standards in packaging sustainability management and support global companies in their journey towards a circular economy.

"We are acutely aware of the current challenges faced by the packaging industry and the difficulties companies encounter. With this understanding, we have developed a comprehensive software solution that supports the implementation of sustainable packaging requirements across different markets and significantly optimises reporting obligations," says Anna Zießow, Co-Founder and CPO of Recyda.

Advancing Global Reach: Internationalisation and Product Development

Recyda's solution is designed for internationally positioned packaging manufacturers, brand owners, and retailers, specifically supporting them in packaging R&D, master data management, and financial forecasting. With the Series A investment, the company is set to rapidly expand its market presence and further develop its product.

"Behind our company are not only renowned 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," says Vivian Loftin, Co-Founder and CMO of Recyda. "You shouldn't lose sight of Recyda, because we will be introducing exciting innovations to our software in the coming months."

Images can be found here.

About Recyda:

Recyda is a climate tech startup from Freiburg founded in 2020 offering the leading software for sustainable packaging management. Their all-encompassing SaaS solution targets international brand owners, retailers and packaging producers, offering them a solution to navigate the complexities of international packaging sustainability.

Find out more at recyda.com.

About Cusp Capital:

Cusp Capital is a venture capital firm focused on European software and technology. The fund invests in early-stage companies on the cusp of redefining their industries by channeling new socioeconomic and technological paradigms. The Cusp Capital team members are long-time contributors to the technology ecosystem. Over the last fifteen years, they have invested more than € 600m in companies such as Zalando, Delivery Hero, Klarna, Scalable Capital, data Artisans, Personio and SoSafe.

 Learn more about Cusp Capital and its current focus themes at cuspcapital.com and connect with the team on LinkedIn.