Slashing CO2Recycled plastics are big business.
Big Picture
Over 90% of plastic never gets recycled because it just isn’t profitable. Virgin plastics are dirt cheap while recovering high-quality stuff from waste is costly and complex. But change is coming. A raft of new mandates across the EU and UK is aimed at boosting the utilization of recycled plastics, starting in 2022. The challenge now is creating a ready and reliable supply of high-quality plastic recyclates.
How it Works
Safi is taking the market for recyclables like plastics, paper, and scrap metal from the pen-and-paper era into the digital one. They’re building the first global b2b online marketplace that matches buyers and sellers in the recycling industry and powers high-trust transactions. Their platform simplifies every step of the material trading experience from discovery, materials inspection, payments, and logistics.
Unfair Advantage
Today, most materials recovery facilities, or MRFs, still rely on slow, manual, capex-intensive operations. Safi’s platform enables existing workflows to easily move online, connecting recyclers with global customers. In the process, they bring transparency to the supply and quality of recycled materials, relaxing two of the key bottlenecks to growing the international market for high-quality waste products.
1.5
Tons of CO2e
avoided per ton of plastic recycled
RISHI STOCKER CEO & CO-FOUNDER
Rishi was one of the earliest employees at UK neo-bank Revolut, where he led global partnerships. He holds a BA in Classics from Oxford.
EAMON JUBBAWY CO-FOUNDER
Eamon was previously co-founder and COO of Onfido, an AI-based identity and verification provider. He holds a BA in economics from Oxford.
TrueCircle scoops $5.5M to use AI to drive recycling efficiency
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