Cuploop raises half a million euros, will revolutionise the recycling of packaging

Estonia-based green and fintech company Cuploop raised EUR 550 000 from investors.

Solving the global waste problem

Cuploop automates the circulation of reusable packaging and the return of deposit money. The money raised will be used to develop a market-ready hardware and software solution (SaaS). Cuploop will use the investment to solve the problem of packaging waste and create a recycling system for reusable packaging.

The technology used helps to keep detailed records of the packaging in use, its type and quantity, as well as up-to-date information on when and where the respective packaging was returned. When the packaging reaches the end of its use cycle (after approximately 100-300 uses), the material is recycled.

Cuploop’s fully automated solution will help traders to adopt reusable alternatives (without increasing costs), help countries that would otherwise have to pay heavy fines for untreated plastics and combat massive environmental degradation.

Interest from well-known entrepreneurs

In this investment round, the company’s financiers include Pipedrive founders Martin Henk, Martin Tajur and Ragnar Sass, as well as Andrus Purde, Lev Dolgatsjov and others. Cuploop has previously raised funds from the Estonian Environmental Investment Centre and angel investors to the value of EUR 100,000 in order to develop the first product prototypes.

This article originally appeared in Sorainen’s newsroom who advised Cuploop on all legal issues related to the fundraising process.

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