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This infusion of new funds is led by Sparking Capital and SeedBlink investors
Bucharest, November 4, 2021: EcoTree, a digital platform that provides businesses with an all-in-one cloud software solution for waste management, closes new funding round and raises USD 500,000, bringing its investment pool to USD 0.75 million.
This infusion of new funds is led by Sparking Capital, as lead investor, and SeedBlink, the crowdinvesting platform, both involved in the project since the first round of funding. They are joined by new business angels, including Cosmin Manea, founding partner of InstaShop, once again confirming the growing focus on the circular economy and recycling, but also the fact that green tech companies that develop innovative solutions for the market vulnerabilities, can be profitable.
"The results we are seeing from our customers' intense activity on the platform is, undoubtedly, a validation that EcoTree is responding to the needs of the market by providing businesses with a modern and scalable digital solution for the waste management process. The fresh capital will help us achieve our ambitious goals for 2022, i.e. 100% digitalization of bureaucratic processes, through the digital signature, but also in planning the internalization of the business model in other European countries'', declares Bogdan Andronache, CEO and Co-founder of EcoTree.
''We are bullish on the development prospects of EcoTree, which managed to intermediate more than 1000 tons of waste in the platform, between January and October 2021. The recycling in Romania and Europe is still at very low levels and has a significant impact on greenhouse gas emissions generated by different companies and industries. The European Commission ''Fit for 55'' sets the foundation for 0 net emissions and EcoTree is well-positioned to offer a B2B SaaS platform for waste management transactions and tracking as well for the greenhouse gas emission calculation and monitoring resulting from waste management activities'', states Vlad Panait, Managing Partner at Sparking Capital.
"We are excited about EcoTree's development and the team's ambitious goal to digitize the waste and recycling industry, as it was one of the first companies to use SeedBlink to raise capital. Through the agreed terms, we were able to offer EcoTree investors the opportunity to step up and continue to support the team," said Ionuț Pătrăhău, SeedBlink Managing Partner and Corporate Development.
For the smooth running of the financing process, the transaction was legally advised by CEE Attorneys at Law / Boantă, Gîdei and Associates for the investors and by Andreea Ion & Roman HAMED Law Firm for EcoTree.
EcoTree - the first digital platform for waste management in Romania
EcoTree is the first digital platform in Romania that provides real and measurable benefits to the waste management industry by digitizing operational processes and legal documentation through business intelligence modules for data analysis and reporting, dedicated tendering modules and more, ensuring full transparency and traceability.
In this way, the company actively contributes to a clean and sustainable environment.
The company was founded in 2017 by Bogdan Andronache, Alexandru Petrescu, Marius Cîrstea and Dan Simota with the aim of digitizing the specific processes of waste collection and recycling, positioning itself as a player in the circular economy.
Currently, the company has active contracts with multinational clients from the beverage, food and retail industries. More than 60 users, representatives of waste producers, manage all their waste operations directly through the EcoTree digital platform.
In addition, more than 40 nationwide waste collection companies approved for all waste types are registered on the platform and fully operational.
Companies interested in digitizing their internal recycling process can find more information about the EcoTree platform at www.ecotree.ro.
About Sparking Capital
Sparking Capital is an early-stage venture capital fund based in Bucharest, Romania. Sparking Capital makes pre-seed and seed investments in innovative companies in consumer tech, fintech, supply chain, property tech, marketing tech, digital transformation and sustainability.
SeedBlink is the fastest growing investment platform for tech startups in Europe, measured by amounts traded and number of investors. The company aims to democratize the investment process by combining the awareness achieved through crowdinvesting, the flexibility of business angels and the expertise of VC in one online platform.
PublishedNovember 04, 2021
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SeedBlink is a transparent solution that connects entrepreneurs with great business plans, with investors, at different stages in their development. It is a great tool for us, a democratization of access to funding, I would say.
We really loved the SeedBlink journey. We reached our fundraising goal within hours of launching. About 100 investors joined our vision and invested almost $2 million in FLOWX.AI through the Private Deal Room. At the same time, working with SeedBlink to prepare for the funding round was an excellent exercise for our entire team, and we received and felt the support from the SeedBlink team members who took on an advisory role.
SeedBlink made the (investment) process run smoothly. We appreciate all the support SeedBlink's professional team has provided.
Founder and CEO
It's important to look for and choose a platform that you resonate with, that shares your mission with, a platform & its people with which you feel you can have good working relationships. we got an excellent relationship going forward; we talked a lot and we were in touch on a lot of matters and I think this was important. Having people who believe in your idea is of great help.
Founder and CEO
Running the financing round was like any other fundraising; we had to be active in our community as well as in SeedBlink's investor community. After the launch, everything happened very quickly, and SeedBlink organized several pitch events for investors, which we found very useful for the round momentum.
Founder and CEO
We immediately clicked with the SeedBlink team as their fundraising expertise was immediately obvious and their no-nonsense approach really appealed to us. After all, fundraising is only a means to an end, and we liked how the SeedBlink team was really focusing on supporting us and on getting things done.
Our main expectation has been to raise the amount we were aiming for, and both rounds launched on Seedblink exceeded our targets, so we’re very happy with that! Even though the launched funding campaigns have been purely crowdfunding rounds, we are thrilled to actually receive extra support from some of the investors, who have chosen to get involved and help us generate product awareness, whenever they can.
I am recommending SeedBlink without hesitation, to every founder that raises capital, especially early-stage tech startups. SeedBlink is a crowd investment platform that will also provide their startup with visibility, for Angels and VCs.
Founder and CEO
In the early stages, we have been funded by several early (angel) investors, and one and a half year ago through an equity crowdfunding campaign on SeedBlink. Of course, this impacted our growth in many positive ways, partly due to the cash influx that, evidently, was sorely needed, but in a larger part due to the fact that our responsibility towards our shareholders has become more stringent and explicit, becoming embodied in our market approach.
Co-founder and CEO
Given the accelerated growth we observed at the end of last year and the beginning of 2021, we want a new capitalization, quickly. This is a bridge round that we will use for one year, and the advantages that SeedBlink offers are the speed at which we were able to list for financing and the experience that we gain as a result of this public listing, similar to a listing on the stock exchange.
Co-Founder & CEO
As a platform that only serves technology ventures, SeedBlink can connect the start-up with more than just money. SeedBlink investors are primarily technocrats who understand the objectives of the fundraising company and are also able to post-funding contribute with business opportunities. The minimum investment threshold, and technology focus, differentiates SeedBlink from other fundraising platforms. A perfect fit for a technology start-up seeking intelligent funding.
Co-Founder & CEO
SeedBlink boosted our brand exposure and facilitated the financial support we were seeking. Having a campaign on the platform allowed us not only to meet a team of professionals - that guided and helped us prepare the necessary materials - but also opened doors for increasing our brand awareness and have discussions with VCs & angel investors we have never reached before. This campaign gave us the encouragement we needed to push the product further, while the record-breaking fundraising (only 2 hours from the launch of the campaign!) was a great confirmation that our product is needed in this market and that we should continue innovating.
CEO & Co-founder
SeedBlink has created a vital ecosystem for startups at the beginning of their journey by equipping entrepreneurs with expertise, encouraging honest and sometimes uncomfortable but necessary discussions about risks and vulnerabilities through a suite of tools, and facilitating connections with investors who share the founders' vision and can contribute to their success. I have greatly appreciated the constant support of Eric and the entire team at all stages of the campaign. Thank you so much!
SeedBlink Crowd SA (registration number PJR28FSFPR/400001 from 3rd of November, 2022) is authorised and supervised by the Romanian Financial Supervisory Authority (ASF).