EcoTree, a digital platform that provides businesses with an all-in-one cloud software solution for waste management, closes a 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.