Recycler Droppie raises €4.2 million
Droppie raises €4.2 million from the Amsterdam Climate and Energy Fund (AKEF), ROM InWest, Social Impact Fund Rotterdam and Amsterdam (SIF), Start Foundation, and Dutch Dragons crowdfunders and existing investors.
Droppie is developing a circular retail concept in which consumers are rewarded for handing in waste. The company combines physical recycling stores with technology such as the Dropbot. This AI machine automatically recognizes and sorts submitted materials. Users receive immediate compensation for their waste via an app. Droppie focuses on high-quality and clean waste streams. This enables recycling into new, high-quality raw materials. The solution helps producers comply with European regulations regarding the use of recycled materials. Additionally, it reduces dependence on primary raw materials. The company also contributes to social employment.
The investment will be used to expand the network from 13 to 70 recycle shops in the Netherlands and to further scale up the technology.
