Waste management & recycling

The startups taking out the trash

Last updated: 16 Dec 2021

Market 101

We are – quite literally – in a toxic relationship with plastic. Cheap, versatile and durable, it’s been the bedrock of sectors ranging from packaging and electronics to construction and transport. But over the decades, industry’s production of it has outpaced our ability to handle the waste. As our landfills and oceans fill up, consumers are taking notice and regulators are doubling down, with the EU, for example, introducing the world’s toughest rules against plastic pollution in January 2021.

There’s just one problem: waste management is a fragmented sector that, in many ways, is still figuring out the basics. Startups are sorting out the logistics of ensuring that enough high-quality waste is recovered, as well as the hard science of how to recycle some materials in the first place — or create entirely new ones. If not fully weaning us off plastic, they’re reimagining our dependence on it to make a world that’s less destructive and more regenerative.

Early stage market map

Early stage market map

Key facts

41.5

% of plastic packaging in the EU that is recycled (compared with a global average of 16%)1

€0.80

levy per kilogram of nonrecycled plastic packaging waste faced by plastic producers in the EU since January 1 20212

€364bn

global waste management market size in 20213

Startups tracked by Sifted

Sifted take

New laws have been effective in getting the chemical and waste management industries to take action on recycling. The larger challenge will be solving the sector’s muddled economics, strained by low revenues from recyclables and their lack of price competitiveness compared with virgin materials.

Rising stars

cirplus

Recycling

Total funding

€4.5m

Hamburg, Germany
2018

Offers an online marketplace for selling and procuring recycled plastic, both for short and long-term business needs.

Round

Seed


Date

2021

Size

€3.3m

Xampla

Alternative materials

Total funding

€10.2m

Cambridge, United Kingdom
2018

Developed a plant-based substitute for single-use plastics, which decomposes naturally but performs like traditional synthetic polymers.

Round

Seed

Valuation

€35m


Date

2021

Size

€7.2m

Greyparrot

Waste sorting

Total funding

€4.5m

London, United Kingdom
2019

Developed a computer vision software that automates waste composition analyses by monitoring waste flows and distinguishing between different waste categories.

Round

Seed

Valuation

€11m


Date

2020

Size

€3.4m

Early stage startups to watch

&Repeat

Stockholm, Sweden
2020
Seed

1.8m

1.5m

-

CELLUGY

Aarhus V, Denmark
2018
Seed

4.9m

2.4m

-

cirplus

Hamburg, Germany
2018
Seed

4.5m

3.3m

15m

Cycled Technologies

Skien, Norway
2016
Seed

950k

150k

8m

DePoly

Sion, Switzerland
2020
Pre-seed

2.9m

1.2m

4.2m

Ecotree Romania

Bucharest, Romania
2017
Seed

650k

430k

2m

Greyparrot

London, United Kingdom
2019
Seed

4.5m

3.4m

11m

Healix BV

Maastricht, Netherlands
2018
Seed

10m

10.5m

-

Lasso Loop Recycling Ltd. (formerly ReCircle Recycling Ltd.)

London, United Kingdom
2017
Pre-seed

2.3m

433k

6.2m

Naturbeads

Bath, United Kingdom
2019
Pre-seed

1.2m

150k

2.8m

NOOSA

Brussels, Belgium
2019
Seed

500k

500k

1m

Poliloop

Budapest, Hungary
2019
Seed

1.8m

1.7m

-

Pyxo

Paris, France
2018
Seed

7m

7m

-

Reath Technology Ltd T/A Reath

Edinburgh, United Kingdom
2019
Seed

370k

370k

3m

RECYCLEYE

London, United Kingdom
2019
Seed

5.6m

4.2m

-

ROSI

Grenoble, France
2017
Seed

1.3m

1.3m

4m

Seenons

Amsterdam, Netherlands
2019
Seed

7.8m

6m

-

Votechnik

Limerick, Ireland
2011
Grant

6m

2.1m

-

Xampla

Cambridge, United Kingdom
2018
Seed

10.2m

7.2m

35m

Europe’s success stories

Who early stage startups are up against

(Pre-)Seed

SeriesA

SeriesB

SeriesC

SeriesD+

IPO/Exit

→ Market cap €426m [as of Dec 14]

→ Developed an alternative to traditional recycling by using enzymes to both recycle all types of PET waste and produce new materials with minimal quality loss

(Pre-)Seed

SeriesA

SeriesB

SeriesC

SeriesD+

IPO/Exit

→ Market cap 7.1bn SEK (€689m) [as of Dec 14]

→ Developed a dissolving pulp made from textile waste to make regenerated fibres for the fashion industry, including H&M with which it has a longterm partnership

Sources

Data sources

Sifted.eu Proprietary data

Dealroom.co Data

Research reports

The case for increasing recycling: Estimating the potential for recycling in Europe June 2020 | European Environment Agency

Market research

3 Waste Management Market - Global Forecast to 2026 July 2021 | ReportLinker

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