Recycling startup Cirplus receives millions in funding

Feb 09, 2024•almost 2 years ago

HamburgInformation Technology

Investors

Wepa VenturesIgus

Description

Recycling startup Cirplus has received a seven-figure amount in a financing round led by Igus, a leading manufacturer of energy chain systems and plain bearings made of high-performance plastics, with involvement from venture capital company Wepa Ventures. The funding will be used to further expand into other countries and to optimize the procurement of recycled plastics to reduce processes and costs for companies.

Company Information

Company

Cirplus

Location

Hamburg, Hamburg, Germany

About

Cirplus is Europe's largest digital procurement platform for circular plastics. The Hamburg-based company already brings together more than 3,000 plastics converters, product manufacturers, recyclers and waste management companies from over 100 countries. The aim is to create reliable, cost-effective and scalable supply chains for high quality recycled plastics using digital technologies to reduce - and ideally eliminate - plastic in the environment. Cirplus is also the initiator of DIN SPEC 91446 - the world's first standard for high quality plastics recycling and digitisation. The company has received several awards for its commitment to greater digitalisation, standardisation and sustainability in the plastics market, including the GreenTech Award 2022 and the German Standardisation Award 2022 in the categories of Innovation and Sustainability. Founder and CEO Christian Schiller has also been appointed as one of 20 members of the German government's expert council to support the development of the National Circular Economy Strategy (NKWS) in the field of plastics.

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