Berlin-based CleanHub, a company dedicated to preventing plastics from entering oceans, has raised €6.4 million in funding to help solve the waste management issues of developing countries. The funding round was led by Integra Partners and Lakestar, and had participation from 468 Capital, Übermorgen Ventures, Dan Bartus, and Stefan Gross-Selbeck. CleanHub’s primary focus is to provide waste management connections in coastal regions with an absence of such services. The company also offers plastic credits to eco-conscious businesses, giving them an opportunity to improve their sustainability credentials and gain a competitive edge in the market. The funding will enable CleanHub to accelerate its mission to eliminate plastic waste and bring systemic change to the waste management industry.
The company has developed a track and trace system that monitors each bag of waste collected through AI and manual checks, ensuring accountability and transparency. The plastic credit system used by CleanHub was the first to be verified by TÜV SÜD under the ISO 14064-3 standard, which set a new benchmark for rigor and transparency in the plastic credit market. CleanHub collaborates with partners to enable the efficient collection, processing, and reintroduction of plastic waste into the circular economy. The recycling rates are expected to rise from 9% to 30% by 2030, increasing the market size for recycled material feedstock, projected to reach $170 billion in the same period.
The appointment of Louis Pfitzner as Co-CEO was also announced by CleanHub, effective immediately. Joel Tasche will serve as the other Co-CEO. Pfitzner, a serial entrepreneur and co-founder of Salonmeister and Caya, will guide all commercial aspects of the business, including revenue generation and growth strategies. CleanHub is excited to have Pfitzner on board, providing a unique perspective and experience in developing scalable business models and leveraging innovative technologies.
