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 €433k, bringing its investment pool to €650k.
This new funding round has been 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.
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 startup 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 EcoTree 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 licensed for all waste types are registered on the platform and fully operational.
Bogdan Andronache, the CEO and Co-founder of EcoTree stated: “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.”
Vlad Panait, Managing Partner at Sparking Capital, commented: ”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.”