Vytal, a seller of reusable packaging materials, has raised €6.2 million in a growth funding round, bringing the company’s funded total to over €18 million.
Over 60 billion single-use food and drink containers are discarded in the EU every year, and regulations such as the EU Packaging and Packaging Waste Regulation are calling for a move towards full lifecycle sustainability.
Vytal’s technology platform replaces single-use packaging with innovative, reusable solutions for businesses including corporate and university campuses, business districts, airports, city centers, shopping malls, trade fairs, festivals, events and entertainment venues.
The company also operates an open system for reusable packaging in its restaurants and canteens in 17 countries, allowing consumers to borrow and return high-quality reusable containers free of charge from thousands of participating stores.
Emerald Technology, through its Sustainable Packaging Innovation Fund, led the round with participation from Ventis, with existing investors Kiko Ventures, Grazia Equity and Rubio also participating.
The new funding will enable Vytal to accelerate its efforts to transform the packaging industry by expanding to new marketers and further developing its software and data-driven services.
“We are thrilled to be working with Vytal to bring this technology to market,” said Dr Tim Breker, co-founder and managing director of Vytal.
“Transforming the packaging industry towards a circular society is a huge business opportunity, and Vytal’s technology platform is positioned to win.”
We have established ourselves as a thought leader in this space and look forward to accelerating our collaboration with various industry partners.
We understand the conditions under which reuse is better than single-use, and we are focused on leveraging software and data to maximize the economic benefits of reuse across all our customers and use cases.”
Fredric Petit, Partner at Emerald Technology Ventures said:
“Vytal’s management team has combined great foresight and strategic thinking with strong execution.”
Vytal recently established a wholly owned subsidiary, VyEES (VYTAL Events & Entertainment Solutions GmbH), with the goal of expanding reusable packaging solutions for the events and entertainment industry. VyEES’ clients include the Berlinale Film Festival, Online Marketing Rockstar “OMR” Festival and the Cruja Music Festival in Barcelona.
Main image: Vytal. Photo: Uncredited.
