TLDR:
- Polytag secures female-led funding to transform the recycling industry
- Polytag’s technology provides real-time visibility and insights into single-use packaging
Alice Rackley, CEO of Polytag, announced that the company has completed Series A seed funding with two female-led investors to revolutionize the recycling industry in the UK and Europe. The investment, led by Collateral Good and co-led by Knop Ventures, will enable the wider installation of Polytag’s technology in Material Recovery Facilities (MRFs) to provide brands with real-time insights on packaging recycling. The technology, utilizing QR codes and Invisible UV Tags, aims to track and incentivize plastic packaging recycling to meet sustainability goals and enhance customer loyalty. The funding will support Polytag’s mission to address the single-use plastic crisis and drive growth in connected packaging tools.
In other funding news, Penny Black received additional seed funding of £1.5 million for its e-commerce marketing SaaS tool, while Woola raised €2.5 million to expand its wool-based alternative to plastic packaging into the luxury goods market. These investments highlight the growing focus on sustainable packaging solutions and the potential for innovation to drive positive change in the industry.
