CleanHub, a Berlin-based CleanTech startup raises €6.4M to prevent plastic from entering the oceans

The waste management gap in underdeveloped nations and the lack of funding for effective trash infrastructure are addressed by CleanHub, a German-based CleanTech startup that works to prevent plastic from entering our oceans. In coastal areas around the world, 2 billion people lack access to effective waste management.

It creates waste management ties in underdeveloped coastal areas and provides plastic credits to eco-conscious companies in line with rising customer demand for sustainable goods and behaviors. Brands have the chance to strengthen their sustainable credentials and achieve a competitive advantage through this process.

Integra Partners and Lakestar led a fundraising round of €6.4 million for CleanHub. Sustainability thought leaders Dan Bartus and Stefan Gross-Selbeck, as well as notable new and old investors, Silence VC, 468 Capital, and Übermorgen Ventures, participated in the round. With the money, CleanHub will advance its goal of stopping plastic trash from entering the oceans and influencing systemic change in the waste management sector, paving the way for the circular economy of plastic.

Related Content: The Ocean Cleanup received a private donation of $25M

Joel Tasche, the founder, and co-CEO of CleanHub, said:

“Our current investors 468 Capital and Übermorgen’s continued support shows a lot of faith in the efforts of the entire team. We are very thrilled to have Lakestar and Integra Partners lead this fundraising round, empowering us to grow our operations and accelerate the shift to a circular economy. We’re eager to further our goal of becoming the digital infrastructure for South-East Asia’s developing waste management sector using these funds. It is anticipated that having Integra Partners and Lakestar on our side will improve our access to the markets in which we are active. We also anticipate developing our idea of becoming a supplier of recycled feedstock for industrial supply chains.”

As greenwashing comes under closer scrutiny, businesses are looking for more openness in their climate activities. Each bag of trash is weighed, photographed, and monitored by AI and human inspectors as part of CleanHub’s track-and-trace system, which ensures accountability. Setting a new bar for transparency and rigor in the plastic credit market, CleanHub became the first plastic credit system to be confirmed by TÜV SÜD under the ISO 14064-3 standard, which was modified for plastic credit verification.

CleanHub, a CleanTech startup founded in 2020, works with partners to advance the circular economy while ensuring the effective collection, processing, and reintroduction of plastic trash. Recycling rates are anticipated to climb from 9% to 30%, and during that time, the market for recycled material feedstock is anticipated to grow by more than five times, to $170 billion, by 2030. This expansion highlights the substantial potential and significance of CleanHub’s work in this industry.

“We are investing in people with the vision and courage necessary to face them at a time when our oceans face significant environmental challenges,” said Mathias Haniel, Partner at Lakestar. “With CleanHub, we’re influencing the present while also making investments in the future. CleanHub satisfies the requirements of the expanding eco-conscious customer by bridging the waste management gaps in developing nations and empowering businesses with plastic credits. We are excited to participate in this endeavor and help CleanHub’s aim for a cleaner, healthier planet advance.”

“We see climate tech as a key contributor to sustainable, equitable, and thriving economies in emerging markets, and we’re proud to start this journey with CleanHub,” said Jennifer Ho, Partner at Integra Partners. “Their creative waste management strategy combined with our finance expertise gives some pretty compelling chances to handle the plastic pollution issue differently. Their substantial footprint in Southeast Asia nicely complements our investment approach. It’s thrilled to be collaborating with the CleanHub team since they’re not just tackling sustainability now but also establishing the standard for it going forward.”

In addition to the investment news, CleanHub also revealed Louis Pfitzner’s immediate appointment as Co-CEO. Pfitzner will also work with Joel Tasche as Co-CEO. A seasoned businessman and co-founder of Caya and Salonmeister, Pfitzner, has a wealth of knowledge in creating scalable business models and utilizing cutting-edge technologies. Pfitzner will lead the company’s commercial operations, including growth plans and revenue generation initiatives, in his capacity as Co-CEO.