Amsterdam-based Oscar Circulair, a company that specializes in area-oriented waste collection, announced that it has received €1.5M in funding from a consortium of investors.
The investors include DOEN Participaties, Social Impact Fund Rotterdam (SIF-R), and the Rabo Foundation.
With this investment, Oscar Circulair says it is set to expand its operations to more cities and areas.
Founders Remco Wagemakers and Jan Willem van Bokhorst say, “We are very happy that we agree 100 percent with the consortium of investors on our mission, which means that we can take the next growth step with the Oscar Circular team.”
Founded by Remco Wagemakers and Jan Willem van Bokhorst, Oscar Circulair is a startup driven by social and circular goals with an aim to revolutionize the commercial waste market and save valuable raw materials.
On average, 60 percent of industrial waste ends up being incinerated, while only 40 percent is recycled.
The Dutch company aims to reduce the residual waste from 60 percent to just 10 percent.
The Dutch company’s solution to this problem involves the central collection of (separated) industrial waste in urban areas close to the companies generating them.
As a result, it ensures that high-quality raw materials are extracted from the waste, less residual waste remains, and fewer (polluting) transport movements are required to collect the waste.
Oscar Circulair claims that residual waste has been reduced to 30 percent in just three months at the Westergasterrein and the Olympic Stadium in Amsterdam.
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