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Resourcify<\/a>, a waste management and recycling platform, today announced that it raised \u20ac14 million ~($14.94 million) in a Series A round led by Vorwerk Ventures with participation from Revent, Ananda Impact Ventures, Speedinvest, BonVenture and WEPA Ventures.<\/p>\n It\u2019s a win for Gary Lewis, Resourcify\u2019s CEO, who joined forces with Felix Heinricy in 2018 to launch the startup with the goal of providing \u201cdigital solutions\u201d to the problem of recycling and waste management. Together, Lewis and Heinricy aimed to foster the recycling, remanufacturing and re-use of products and materials by helping companies connect with local recyclers.<\/p>\n \u201cResourcify is a cloud-based recycling platform that identifies valuable materials and fosters connections between global corporations and local recyclers,\u201d Lewis said via email. \u201cOur mission is to combat waste, eliminate harmful practices like burning and empower companies to effectively manage waste on a large scale.\u201d<\/p>\n What Resourcify<\/span> attempts to do, at a high level, is analyze the different ways companies can recycle the materials that they use rather than dispose of them as waste. For example, the platform might look at local recycling routes that\u2019d make sense for a particular customer, while at the same time supporting the customer\u2019s efforts to improve their recycling reporting and invoice management practices.<\/p>\n Resourcify helps to manage recycle pickup locations, on-site handling of recyclable materials, materials transport and more from a central customer-accessible dashboard. Leveraging a database of materials, recyclers and recycling routes, Resourcify applies machine learning to highlight opportunities for cost savings.<\/p>\n \u201cOne of the key challenges we all face is the transition from traditional waste management to a comprehensive circular economy,\u201d Lewis said. \u201cIt\u2019s important to note that much of the waste industry still operates in a non-digital and non-automated manner, and in many cases, waste is even incinerated rather than recycled. This underscores the urgency of modernizing these processes to minimise environmental impact.\u201d<\/p>\n Image Credits:<\/strong> Resourcify<\/p>\n<\/div>\n Lewis acknowledges that Resourcify isn\u2019t alone in the market for digitizing recycling orchestration, which is projected to grow 11.6% from $3.28 billion in 2020 to 2030, according<\/a> to Research and Markets.<\/p>\n