Renewaball, the company behind the world’s first circular tennis and padel balls, announced that it has successfully secured an investment of over €3 million. This funding round was led by Rubio Impact Ventures and will empower Renewaball to accelerate its mission of substantially reducing the environmental impact of tennis and padel balls across Europe. This aligns with the urgent need for sustainable solutions in the sports industry, as emphasized by Hélène Hoogeboom, the company’s co-founder and CEO.
Hoogeboom said: “Every year, more than 350 million tennis balls are used worldwide, not even counting padel balls. With each stroke, countless microplastic particles are released, which we breathe in or end up in the ground when playing outdoors.”
The felt of a Renewaball is made from 100% organic wool and cotton from Europe, and contains no polyester and nylon, so no microplastics are released. Ultimately, 97% of all balls end up in the trash. The impact on the climate is enormous. Renewaball is changing that. This world’s first circular tennis and padel ball is made from old/used balls and is 100% recyclable.
“Now that we’ve secured the backing of impact investor Rubio alongside our existing supporters, it’s a clear validation of trust in our company. With this groundwork laid, we’re eager to expand further, ensuring that everyone in Europe can enjoy tennis and/or padel with confidence in a greener game,” added Hoogeboom.
Helmer Schukken, managing partner at Rubio, indicated that through their investment in Renewaball, they are significantly reducing the ecological footprint of tennis and padel balls in Europe: “Hélène and her partners Marc Rouffaer and Gunther van de Rijt have impressed us with their dedication to driving positive change in the industry. We believe that by supporting Renewaball, we can contribute to a mindset shift towards sustainability in tennis and padel.”
Read the orginal article: https://www.eu-startups.com/2024/04/amsterdam-based-renewaball-gets-e3-million-to-reduce-environmental-impact-of-tennis-and-padel-balls/
