Local EcoTree innovation designed for the circular economy, to receive 215,000 Euros funding

Aurel Constantin 20/02/2020 | 15:58

EcoTree, an innovative digital platform designed for the field of circular economy, waste recycling and developed by a Romanian start-up, will receive EUR 215,000 for development and implementation. The financing is coordinated by Sparking Capital, as Lead Investor, in partnership with the Seed Blink crowdfunding platform and business angels.

EcoTree is an innovative B2B digital platform that fundamentally accelerates the way waste collection and recycling are carried out, regardless of typology, quantity or provenance and is due to be launched in the coming months. This will bring real benefits to the waste recycling industry by digitizing the processes and the necessary legal documentation, ensuring transparency and traceability, analyzing data through business intelligence modules, special auction modules and thus, not only contributing to the increased degree of recycling of waste but also to a cleaner and more sustainable environment.

“We mainly approach companies that would like to digitise the management of operations in the area of ​​waste and recycling. We are bringing in a simple to use software service, its implementation standing for both minimal effort and affordable price on the part of our customers. In this financing round we aim to complete the service by 100 percent with all the functionalities required by the beneficiaries, so that in the next period we will implement some pilot projects with relevant organizations that are of major interest for the waste management area. Our collaboration with Sparking Capital and Seed Blink means that in addition to the financial resources component, we have also found a professional team of mentors, business consultants and passionate recycling people. Therefore, in this formula we set out to bring recycling to another level and thus become an important partner in our aim for developing a sustainable future”, say the founders of EcoTree, Bogdan Andronache and Alexandru Petrescu.

Sparking Capital is the venture capital fund that coordinated the financing process, being a fund consisting of private sources. The company makes pre-seed and seed investments in innovative companies in the consumer-tech, fine-tech, supply-chain, property-tech, marketing-tech, digital transformation and sustainability sectors.

 “Investing in EcoTree confirms our strategic interest in the vertical circular economy. We are pleased to announce a new investment in an ambitious team, which has the potential to create an innovative product that caters for the real society need, namely the low degree of waste recycling, thus contributing to the significant efficiency of the recycling process and implicitly to a cleaner, healthier and sustainable environment for all of us. Along with the financial investment, Sparking Capital contributes through expertise, mentoring and networking, to the accelerated development and international scaling of the companies in which it invests. This is our second investment in partnership with Seed Blink and together with all our partners, we are contributing to the development of the Romanian business ecosystem which is making visible progress from year to another”, says Vlad Panait, Co-Founder & General Partner Sparking Capital.

Together with Sparking Capital, the investment in EcoTree is made by Seed Blink, the largest equity crowdfunding platform in Romania, which democratizes the entry of private investors into the ecosystem of innovative startups, while also facilitating their access to capital.

“EcoTree, apart from bringing innovation to the waste recycling industry, also generates social impact, including helping to solve an ecological problem. These arguments, together with Sparking Capital’s involvement as a lead investor, have led SeedBlink to respond positively to listing this startup on our equity crowd-funding platform.”, says Andrei Dudoiu, Co-Founder and CEO Seed Blink.

The legal assistance of the transaction was provided by the law firm Boanta, Gidei and Associates.

Last year, the EcoTree won the 3rd prize of the accelerator ReUse Hub, an event supported by PepsiCo Romania in collaboration with Impact Hub.

On the concept of “circular economy”

The circular economy is based on an economic model that involves sharing, reusing, repairing, renovating and recycling the outgoing materials and products, as much as possible, contributing to the increase of the product life cycle. When the products reach the end of their life, the materials from which they are made are kept in the economic circuit, whenever possible, thus reducing waste and creating added value. The circular economy has gone beyond the concept stage, the concrete actions taken in various industries speaking volumes, including the European strategy for the coming years.

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