2 billion people in coastal regions worldwide do not have access to proper waste management. CleanHub, a German company stopping plastic from entering our oceans, addresses this waste management gap in developing countries and the funding shortfalls for efficient waste infrastructure.
It establishes waste management connections in coastal regions previously underserved and offers plastic credits to eco-conscious businesses in alignment with the growing consumer demand for sustainable products and practices. In the process, this offers brands an opportunity to enhance their sustainability credentials and gain a competitive edge in the market.
CleanHub today announced it has raised €6.4 million in funding led by Integra Partners and Lakestar. The round also saw participation from prominent new and existing investors, Silence VC, 468 Capital and Übermorgen Ventures, and sustainability thought leaders including Dan Bartus, and Stefan Gross-Selbeck. CleanHub will use the funds to accelerate its mission to eliminate plastic waste entering oceans and drive systemic change in the waste management industry, enabling the circular economy of plastic.
“The continuous backing from our existing investors 468 Capital and Übermorgen is a great vote of confidence for the work of the entire team. We are truly delighted to have Lakestar and Integra Partners lead this funding round, empowering us to expand our operations and accelerate the transition to a circular economy,” said Joel Tasche, founder and co-CEO of CleanHub. “With this support, we’re excited to further develop our vision to become the digital infrastructure for the emerging waste management industry in South-East Asia. Having Integra Partners and Lakestar by our side is expected to enhance our access to the markets where we’re operating. Additionally, we look forward to evolving our proposition of becoming a provider of recycled feedstock for industrial supply chains.”
With heightened scrutiny on greenwashing, brands are increasingly seeking transparency in their climate initiatives. CleanHub has developed a track and trace system, with each bag of waste weighed, photographed, and monitored through AI and manual checks, ensuring accountability. CleanHub became the first plastic credit system verified by TÜV SÜD under the ISO 14064-3 standard, adapted for plastic credit verification, setting a new benchmark for transparency and rigor within the plastic credit market.
Founded in 2020, CleanHub collaborates with partners to drive the circular economy, assuring the efficient collection, processing, and reintroduction of plastic waste. As recycling rates are expected to rise from 9% to 30% by 2030, the market for recycled material feedstock is projected to increase more than fivefold to $170 billion during the same period. This growth emphasizes the sizable potential and importance of CleanHub’s work in this sector.
“In a time where our oceans face significant environmental challenges, we are investing in people with the vision and courage necessary to face them,” said Mathias Haniel, Partner at Lakestar. “With CleanHub we’re not just investing in the future, together we’re shaping the present. By bridging waste management gaps in developing countries and empowering businesses with plastic credits, CleanHub aligns with the necessary demands of the growing eco-conscious consumer. We are thrilled to be a part of this journey, accelerating CleanHub’s mission for a cleaner, healthier world.”
“We see climate tech as a key contributor to sustainable, equitable and thriving economies in emerging markets, and we’re proud to start this journey with CleanHub,” said Jennifer Ho, Partner at Integra Partners. “Their innovative approach to waste management, coupled with our experience in fintech, creates some really compelling opportunities to tackle the plastic pollution problem in a different way. Their strong presence in Southeast Asia aligns perfectly with our investment strategy. We’re excited to be joining forces with the CleanHub team, who are not just addressing sustainability today but are also setting the pace for its future.”
In addition to the funding announcement, CleanHub announced the appointment of Louis Pfitzner as Co-CEO, effective immediately. Pfitzner will serve as Co-CEO alongside Joel Tasche. Pfitzner, a serial entrepreneur and co-founder of Salonmeister (acquired by Treatwell) and Caya, brings extensive experience in developing scalable business models and leveraging innovative technologies. As Co-CEO, Pfitzner will guide all commercial aspects of the business, including growth strategies and revenue generation efforts.
Read the orginal article: https://www.eu-startups.com/2023/06/berlin-based-cleanhub-secures-e6-4-million-to-become-the-digital-infrastructure-of-the-futures-waste-management/
