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EcoTree startup, the first digital platform for waste management in Romania, receives a second round of funding of USD 500,000
This infusion of new funds is led by Sparking Capital and SeedBlink investors
Bucharest, November 4, 2021: EcoTree, a digital platform that provides businesses with an all-in-one cloud software solution for waste management, closes new funding round and raises USD 500,000, bringing its investment pool to USD 0.75 million.
This infusion of new funds is led by Sparking Capital, as lead investor, and SeedBlink, the crowdinvesting platform, both involved in the project since the first round of funding. They are joined by new business angels, including Cosmin Manea, founding partner of InstaShop, once again confirming the growing focus on the circular economy and recycling, but also the fact that green tech companies that develop innovative solutions for the market vulnerabilities, can be profitable.
"The results we are seeing from our customers' intense activity on the platform is, undoubtedly, a validation that EcoTree is responding to the needs of the market by providing businesses with a modern and scalable digital solution for the waste management process. The fresh capital will help us achieve our ambitious goals for 2022, i.e. 100% digitalization of bureaucratic processes, through the digital signature, but also in planning the internalization of the business model in other European countries'', declares Bogdan Andronache, CEO and Co-founder of EcoTree.
''We are bullish on the development prospects of EcoTree, which managed to intermediate more than 1000 tons of waste in the platform, between January and October 2021. The recycling in Romania and Europe is still at very low levels and has a significant impact on greenhouse gas emissions generated by different companies and industries. The European Commission ''Fit for 55'' sets the foundation for 0 net emissions and EcoTree is well-positioned to offer a B2B SaaS platform for waste management transactions and tracking as well for the greenhouse gas emission calculation and monitoring resulting from waste management activities'', states Vlad Panait, Managing Partner at Sparking Capital.
"We are excited about EcoTree's development and the team's ambitious goal to digitize the waste and recycling industry, as it was one of the first companies to use SeedBlink to raise capital. Through the agreed terms, we were able to offer EcoTree investors the opportunity to step up and continue to support the team," said Ionuț Pătrăhău, SeedBlink Managing Partner and Corporate Development.
For the smooth running of the financing process, the transaction was legally advised by CEE Attorneys at Law / Boantă, Gîdei and Associates for the investors and by Andreea Ion & Roman HAMED Law Firm for EcoTree.
EcoTree - the first digital platform for waste management in Romania
EcoTree is the first digital platform in Romania that provides real and measurable benefits to the waste management industry by digitizing operational processes and legal documentation through business intelligence modules for data analysis and reporting, dedicated tendering modules and more, ensuring full transparency and traceability.
In this way, the company actively contributes to a clean and sustainable environment.
The company was founded in 2017 by Bogdan Andronache, Alexandru Petrescu, Marius Cîrstea and Dan Simota with the aim of digitizing the specific processes of waste collection and recycling, positioning itself as a player in the circular economy.
Currently, the company has active contracts with multinational clients from the beverage, food and retail industries. More than 60 users, representatives of waste producers, manage all their waste operations directly through the EcoTree digital platform.
In addition, more than 40 nationwide waste collection companies approved for all waste types are registered on the platform and fully operational.
Companies interested in digitizing their internal recycling process can find more information about the EcoTree platform at www.ecotree.ro.
About Sparking Capital
Sparking Capital is an early-stage venture capital fund based in Bucharest, Romania. Sparking Capital makes pre-seed and seed investments in innovative companies in consumer tech, fintech, supply chain, property tech, marketing tech, digital transformation and sustainability.
About SeedBlink
SeedBlink is the fastest growing investment platform for tech startups in Europe, measured by amounts traded and number of investors. The company aims to democratize the investment process by combining the awareness achieved through crowdinvesting, the flexibility of business angels and the expertise of VC in one online platform.
PublishedNovember 04, 2021
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