Vytal, a leading provider of software-enabled reusable packaging solutions, has raised €6.2 million in a growth financing round led by Emerald Technology, through its Sustainable Packaging Innovation Fund, with participation from Ventis. Existing investors Kiko Ventures, Grazia Equity and Rubio also contributed, reinforcing their commitment to Vytal’s mission to foster the circular economy by using technology and data to maximize the value of reusables.
The new funding enables Vytal to accelerate its efforts in transforming the packaging industry, by expanding into new marketers and further developing its software and data-driven offerings. Over 60 billion single-use food and drink containers are wasted annually in the EU and regulations such as the Packaging and Packaging Waste Regulation (PPWR) are pushing the industry towards a Circular Economy. Vytal’s technology platform is replacing single-use packaging with innovative reusable solutions for businesses including corporate and university campuses, business districts, airports, city centers, shopping malls, trade fairs, festivals, events and entertainment venues.
Dr. Tim Breker, Co-Founder & Managing Director of Vytal, said: “We’re thrilled to take on board Emerald, a very experienced investor with a phenomenal network of corporate partners. Transforming the packaging industry towards circularity is a massive business opportunity and Vytal’s technology platform is positioned to win. We have established ourselves as thought leaders in the field and are looking forward to accelerating our collaboration with various industry partners. We understand the conditions under which reuse outperforms single-use and focus on leveraging software and data to maximize the economic benefits of reusables for all our customers and across use cases.”
Vytal-powered reusable packaging is saving valuable resources while decreasing costs and creating value for all stakeholders along the circular value chain of reusables – including raw material suppliers, consumers and professional cleaning hubs.
In a large-scale pilot of Vytal’s subsidiary, Vytal Events & Entertainment Solutions GmbH, at this year’s OMR Festival in Hamburg, 70,000 event participants enjoyed all their ready-to-consume food and drinks from Vytal’s smart reusables. Thanks to Vytal’s individually traceable cups and food containers, handling reusables becomes highly efficient, saving considerable time during checkout and returns, cutting down on staff needs for organizers and waiting times for consumers. Professional washing centers equally benefit from Vytal’s RFID-equipped reusable containers, enabling automated instead of manual container counting.
Additionally, Vytal operates an open system of reusable packaging across restaurants and canteens in 17 countries, allowing consumers to borrow and return high-quality reusable containers from and to thousands of partner locations for free.
“Unmanned checkout and return handling as well as transparent data collection and automated processes along the circular value chain are key to completely eliminating single-use packaging from the life of our B2B customers and end consumers. We foresee a future, in which reuse is the default food and drink packaging on campuses, inside the Quick Service Restaurant industry and across the event & entertainment industry,” highlighted Dr. Josephine Kreische, Managing Director of VYTAL Events & Entertainment Solutions and VYTAL Global responsible for the Tech, Product and Marketing teams.
Fredric Petit, Partner at Emerald Technology Ventures, added: “The Vytal management team has combined great visionary and strategic thinking with strong execution power. Vytal’s solution perfectly aligns with our conviction regarding reusable packaging. In a recent Emerald Packaging Sprint with our corporate partners, we concluded that software and data are the key value drivers of reuse, so we’re very excited to join the Vytal team on their mission to scale the adoption of reuse by leveraging technology to unlock its economic and ecological benefits.”
Read the orginal article: https://www.eu-startups.com/2024/07/cologne-based-vytal-secures-e6-2-million-to-expand-its-tech-platform-for-circular-reusable-packaging/
