Alice Rackley, Polytag

Alice Rackley, CEO of Polytag

Recycling technology company Polytag announced it has completed Series A seed funding with two female-led investors as part of its aim to transform the recycling industry across the UK and Europe.

The investment builds on the company’s momentum gained through the firm’s partnerships with major UK retailers, including Ocado Retail, Aldi, and Co-op

Polytag’s technology gives real-time visibility and insights into single-use packaging throughout its lifecycle, optimising recycling processes. Using its QR codes and Invisible UV Tags, the solutions enable FMCG brands to track and incentivise plastic packaging recycling, aiming towards sustainability goals, revenue growth, and customer loyalty through connected packaging tools. 

The funding is led by Collateral Good, a venture capital firm based in Switzerland, and co-led by early-stage venture capital fund Knop Ventures. The combined investment will fund the wider installation of Polytag’s Invisible UV Tag readers in Material Recovery Facilities (MRFs) across the continent, offering a larger range of brands real-time insights on where, when, and how much of its packaging is being recycled. 

Alice Rackley, CEO of Polytag, said: “Securing this seed round funding is a testament to the strength of Polytag’s vision and the potential impact that our technology has in revolutionising the recycling sector. We thank our investors who, sharing our commitment to addressing the single-use plastic crisis, believe in our mission.” 

Mariana Gonzalez, co-founder of Collateral Good, commented: “We are excited to partner with Polytag as it embarks on this journey to redefine and enhance the recycling sector. Its innovative technology has the potential to disrupt traditional approaches to recycling and unlock new opportunities for businesses to drive growth and competitiveness with connected packaging tools.” 

In similar news, Penny Black received £1.5 million in additional seed funding from AGFA and ninepointfive for its e-commerce marketing SaaS tool – a solution currently utilised by a range of brands for personalisation campaigns in product deliveries. Launched in the UK and Europe in April 2022, Penny Black received an initial investment of £1.3 from AGFA and ninepointfive in October 2022; the further £1.5 million intends to help accelerate growth. 

More recently, Woola raised €2.5 million in a funding round and is expanding its wool-based alternative to protective plastic packaging into the luxury goods market. Woola is converting wool into protective packaging intended to phase out plastic equivalents. It is broadening its original focus on bubble wrap replacements in e-commerce to packaging for the luxury goods market, with the new funds set to help grow the company’s sales and marketing team. 

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