The Netherlands-based Chainable, a circular kitchen company, announced that it has raised €1.4M from impact investors Fair Capital Impact Fund and ifund.
Chainable says it will use the investment for further business growth and automation.
The idea of a circular kitchen has become popular in recent years, considering the unsustainable nature of traditional kitchens. Traditional kitchen utensils, in particular, become untenable since they leave large amounts of chipboard or medium-density fibreboard (MDF) waste.
To mitigate unmanageable kitchen waste from scrapped utensils and other waste, Chainable has developed a circular kitchen concept with minimal environmental impact.
Enthusiastic expectations from impact investors
Fair Capital Impact Fund and ifund have expressed their pleasure and enthusiasm in their investment in Chainable.
Stefan van Eijk, fund manager at ifund, says, “The material streams in the built environment are large and the opportunities to make them circular are even greater. In Chainable, we found a team that has already made one of those material streams largely circular with kitchens.”
“We are impressed with the team and what Chainable has already achieved three years after it was founded. We expect Chainable to be able to sustain growth for a long time to come, which makes this a very attractive investment for us,” adds van Eijk.
Michelle de Rijk, Impact investor at Fair Capital Impact Fund, says, “Fair Capital is accelerating the transition to a circular economy where raw materials are not consumed and thrown away but can be used again and again. Chainable is a good example of a circular company that, with its modular and reusable kitchens in the traditional kitchen market, in which today most of it ends up on the scrapheap, wants to make it more sustainable”.
Company profile
Cees van Nispen, Simon Rombouts and Jordy van Osch founded Chainable in 2020.
Nispen had the inspiration for circular kitchens after witnessing a lack of sustainable industry practices in the kitchen business during his 50 years of career in the industry.
To popularise circular kitchens, Chainable prioritises business with clients from housing associations, investors, offices, and healthcare, and educational institutions.
Chainable utilises the “Kitchen-as-a-service” (KaaS) business model. Unlike permanent traditional kitchens, Chainable “rents” its circular kitchen services or sells them with a mandatory buy-back guarantee to clients.
The startup claims it has seen 200 per cent annual growth with over 20 housing associations and dozens of other clients in its client portfolio. In the future, Chainable aims to turn the circular kitchen concept into the new standard of modern kitchens.
“With this growth capital, we are entering the next phase with Chainable; we are investing in further professionalisation and automation. This will help us to take out over a thousand kitchens annually and grow further to make circular kitchens the standard in this traditional market,” says Simon Rombouts, CEO of Chainable.
Read the orginal article: https://siliconcanals.com/news/startups/chainable-bags-1-4m/
