FEMALE-led recycling technology company Polytag has announced that it has completed series A seed funding with two prominent female-led investors.
The news comes as the company looks to accelerate its mission to transform the recycling industry across the UK and Europe and builds on Polytag’s partnerships with the likes of Ocado, Aldi, and Co-op.
Polytag’s technology offers real-time visibility and insights into single-use packaging throughout its lifecycle, optimising recycling processes. Using its QR codes and Invisible UV Tags, the solutions enable leading FMCG brands to track and incentivise plastic packaging recycling.
The new funding is led by Collateral Good, a climate first venture capital firm based in Switzerland, and co-led by Knop Ventures, an early-stage venture capital fund that invests in startups that are building a better world. The combined investment will fund the wider installation of Polytag’s Invisible UV Tag readers in material recovery facilities across the continent, offering a larger range of brands real-time insights on where, when, and how much of its packaging is being recycled.
Alice Rackley, CEO of Polytag, said, “Securing this seed round funding is a testament to the strength of Polytag’s vision and the potential impact that our technology has in revolutionising the recycling sector. We thank our investors who, sharing our commitment to addressing the single-use plastic crisis, believe in our mission. Their support will drive our growth and allow us to provide exceptional value to customers and scale our transformative technology for the betterment of the environment.”
Mariana Gonzalez, co-founder of Collateral Good, added, “We are excited to partner with Polytag as it embarks on this journey to redefine and enhance the recycling sector. Its innovative technology has the potential to disrupt traditional approaches to recycling and unlock new opportunities for businesses to drive growth and competitiveness with connected packaging tools. It has been a pleasure working with Alice and the Polytag team to close this deal and announce our support for this successful, female-led business!”
Valerie van den Brink, MD of Knop Ventures, commented, “Knop Ventures is excited to support Polytag in its mission to enhance the recyclability of the packaging industry. Circularity is a key investment theme for us, and we are convinced that Polytag’s innovative tagging solution provides positive environmental impact. We look forward to collaborating with the team to drive meaningful change for the future.”
