In response to the escalating climate change and plastic pollution crises, Edinburgh-based Reath creates a digital infrastructure for reusable packaging. Now, the company has secured €365K (nearly £312K) in a pre-seed funding round.
Intends to strengthen its position
The investment round was led by early stage VC firm Techstart and CVC Philanthropy, the impact investment arm of CVC Private Equity. Backed by Innovate UK, Tech Nation and other leading startup funds, Reath will use the funds to develop the resue.id product and features, expand its team of talented developers and data scientists to accelerate its market position.
Claire Rampen, the Co-founder of Reath, said: “We are so pleased to be partnering with Techstart and CVC Philanthropy on our Pre-Seed round. Our ambition was to find world-leading partners with expertise in early-stage companies, and connections to retailers globally. Together, Techstart and CVC cover both of those bases. We look forward to their support propelling us towards our goal of reducing waste and increasing the lifespan of items.”
Emily Rogers, the Co-founder of Reath said: “Reath was founded in response to the urgent need for waste reduction at an international, national and local level. The power of individual choice is immense, but as a consumer, there is only so much you can do when your choice is between something bad or something worse. Raising this current round of funding means Reath can continue to power the businesses who are giving consumers a better choice: to reuse instead of throwing away. TechStart and CVC understand this urgency and the need for innovation, so we are thrilled to have them as partners as we continue to develop our market leading product.”
Achieves circular economy
Reath was founded in 2019 by Claire Rampen and Emily Rogers on a mission to build the digital infrastructure required for businesses to shift to the circular economy. It has designed a pioneering Open Data Standard intending to bring a circular economy. The female-founded startup helps such businesses achieve sustainable models and zero-waste using data provided by unique ‘digital passports’ assigned to individual products.
These ‘digital passports’ transform the way companies monitor as well as store data required for adopting compliant, safe, and reusable packaging systems. This is possible by collecting and tracking the location data of individual pieces of packaging as these go through the distribution chain, thereby enabling them to create a circular economy. Eventually, it lets companies proactively manage how the packaging can be reused.