The startup that created the first circular padel and tennis balls in history, Renewaball, has successfully raised over €3 million in funding.
Rubio Impact Ventures led this fundraising round, which will enable Renewaball to fast-track its goal of significantly lowering the environmental effect of tennis and padel balls throughout Europe. This is in line with Hélène Hoogeboom, the CEO and co-founder of the company, who has stressed the urgent need for sustainable solutions in the sports industry.
Not even including padel balls, Hoogeboom stated that around 350 million tennis balls are used annually throughout the globe. Every stroke during outdoor play releases countless microplastic particles, which we either inhale or accumulate in the ground.
Renewaball manufactures its felt exclusively from organic wool and cotton sourced from Europe, completely devoid of polyester or nylon, thus eliminating the emission of microplastics. In the end, 97% of all balls find their way into the garbage. With a significant impact on the climate, Renewaball is revolutionizing the industry by introducing the first-ever circular tennis and padel ball, crafted entirely from recyclable old or used balls.
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Hélène Hoogeboom stated:
“Having gained impact investor Rubio’s support in addition to that of our current supporters, this is a resounding endorsement of faith in our business. After laying the foundation, we’re excited to grow even more so that everyone in Europe may confidently play tennis and/or padel in a more environmentally friendly manner.”
According to Rubio’s managing partner, Helmer Schukken, the company is considerably lowering the ecological impact of tennis and padel balls in Europe by investing in Renewaball:
“Hélène and her partners Marc Rouffaer and Gunther van de Rijt have impressed us with their dedication to driving positive change in the industry. We think that by backing Renewaball, we can help change tennis and padel players’ perspectives toward sustainability.”
