Collateral Good was selected to lead Series A financing round in Polytag –Transforming the recycling industry
This investment represents an expansion of Polytag’s ongoing efforts, which have been bolstered by successful partnerships with major UK retailers such as Ocado Retail, Aldi, and Co-op.
Zurich, Switzerland – May 13, 2024 – Collateral Good leads Series A funding in collaboration with Knop Ventures, an early-stage venture capital fund. Polytag, founded in 2018 by Alice Rackley, Philip Sutton and Brendan O’Neill is a recycling technology company that aims to transform the recycling industry in UK and Europe. Polytag’s technology tags and traces packaging from the moment it’s labelled to the moment it’s scanned at recycling centers.
The combined investment will support the broader deployment of Polytag’s Invisible UV Tag readers in Material Recovery Facilities (MRFs) across the continent, providing a wider array of brands with real-time insights into the location, timing, and volume of their packaging recycling activities.
This investment represents an expansion of Polytag’s ongoing efforts, which have been bolstered by successful partnerships with major UK retailers such as Ocado Retail, Aldi, and Co-op.
Polytag’s technology offers immediate visibility and analysis of single-use packaging throughout its lifecycle, streamlining recycling processes. Through its QR codes and Invisible UV Tags, the company’s solutions empower FMCG brands to monitor and incentivize the recycling of plastic packaging, supporting sustainability objectives, revenue growth, and customer loyalty through integrated packaging solutions.
Alice Rackley, Co-founder and CEO of Polytag, remarked:
«Securing this seed round funding underscores the strength of Polytag’s vision and the potential impact of our technology on transforming the recycling industry. We extend our gratitude to our investors who share our dedication to addressing the challenges of single-use plastics and believe in our mission.»
Mariana Gonzalez, Co-founder of Collateral Good, added:
«We are enthusiastic about partnering with Polytag as it enters this phase of reshaping and enhancing the recycling sector. Its innovative technology has the capacity to disrupt conventional recycling methods and open up new avenues for businesses to enhance growth and competitiveness through integrated packaging solutions.»