Sykell Press Release
SYKELL secures EUR 4.5 million in additional growth capital
SYKELL headed for success with its comprehensive “Einfach Mehrweg” (“Simply Reusable”) system for takeaway food and beverage containers
SYKELL’s full service reusable packaging solution ensures food and beverage providers comply with European reusable packaging obligations
Lead investors Collateral Good Ventures and Interzero are investing in SYKELL’s growth – REWE Group commits new capital
Berlin, 03.05.2023 – SYKELL has secured EUR 4.5 million in additional growth capital for its “Einfach Mehrweg” (“Simply Reusable”) packaging system, which offers takeaway food and beverage providers a sustainable alternative to single-use containers. For consumers, the system is designed to be as user-friendly as the tried and tested bottle deposit system. With “Einfach Mehrweg”, no registration, customer account, app downloads or personal data is required. Returning used containers and cups is as easy as returning deposit bottles via the existing nationwide network of reverse vending machines (RVMs).
SYKELL has a nationwide network of system partners, including major food retailers, petrol stations and catering businesses. SYKELL’s one-stop “Einfach Mehrweg” system is a simple, full-service, reusable solution for both large retail companies and individual owner-operated catering businesses, all of which are required to comply with Germany’s reusable packaging regulations since January 1, 2023. SYKELL’s comprehensive solution includes cleaning logistics, inventory management and deposit accounting. In February 2023, SYKELL announced a strategic partnership with Interzero, the international provider of sustainable recycling concepts.
SYKELL’s “Einfach Mehrweg” system has impressed a number of big-name investors, who are providing the company with EUR 4.5 million in growth capital. Alongside the REWE Group, which has confirmed its interest and commitment to SYKELL by upping its investment in the company, Collateral Good Ventures and Interzero are now also participating as main investors.
Collateral Good Ventures is a venture capital platform that uses human and financial capital to support the innovation and technology needed to build more sustainable industrial systems. In doing so, Collateral Good Ventures has committed to aligning its investment strategies with Article 9 of the European Union’s Sustainable Finance Disclosure Regulation (SFDR). The investors have agreed not to disclose their respective stakes.
SYKELL’s management team consists of Davide Mazzanti, CEO, and Michael A. Kappler, both of whom have amassed extensive management experience in the retail, circular economy and consumer goods sectors.
Davide Mazzanti, CEO of SYKELL:
“With SYKELL’s “Einfach Mehrweg” system, we are extending the benefits of a sustainable deposit system for beverages to other product and food categories. Our clear goal is to establish “Einfach Mehrweg” as the dominant reusable system in Germany.” Mazzanti adds: “We will use the additional capital to rapidly scale up the “Einfach Mehrweg” range in Germany."
Michael Kleindl, Managing Partner, Collateral Good Ventures:
“In a challenging market environment, SYKELL’s innovative yet simple solution can be applied across all market sectors during the introduction phase of Germany’s mandatory reusable packaging regulations. SYKELL’s business model offers a convenient, sustainable and comprehensive reusable packaging solution for consumers and retailers large and small.”
Felix Held, Managing Director, Interzero:
“Returnable deposit systems must and will completely replace single-use packaging in many sectors. SYKELL has developed a consumer-friendly solution and has convincingly demonstrated the near-term scalability of its system. We look forward to leveraging our investment and strategic partnership with SYKELL to help consumers and participating businesses become more sustainable – in line with our vision of a world without waste.”
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About SYKELL – Einfach Mehrweg
With its “Einfach Mehrweg” solution, Berlin-based SYKELL is expanding the simple, tried-and-trusted bottle and can return system to include innovative reusable packaging solutions across the entire food and beverage sector.
Sykell’s “Einfach Mehrweg” system is designed to be as simple and convenient as possible and does not require users to register, set up a customer account, download an app or provide any personal data. As with deposit bottles, the return of containers and cups is uncomplicated and works nationwide via the existing nationwide network of reverse vending machines (RVMs).
Sykell has a nationwide network of system partners, including chain food retailers, petrol stations and restaurants. Sykell was founded in Berlin in 2021.
About Collateral Good Ventures
Collateral Good Ventures is a “climate-first” venture capital platform that promotes the transformation toward sustainable industry systems in the food, retail, fashion and packaging sectors – and beyond. Collateral Good believes that supporting technology, innovation and visionary entrepreneurial teams with human and financial capital is a central building block on the pathway to a “net-zero” future. Collateral Good Ventures is based in Zurich, Switzerland and was founded in 2022 by the entrepreneur and investor Michael Kleindl and the molecular biologist Dr. Regina Hecker. The company’s name encapsulates its strategies: “Doing collateral good” is at the heart of its approach to responsible investing.
Interzero is one of the leading service providers in the field of closing product, material and logistics loops and an innovation leader in plastics recycling with the largest sorting capacity in Europe. Under the guiding principle of “zero waste solutions,” the company supports over 50,000 customers throughout Europe on the responsible handling of recyclable materials, helping them to improve their own sustainability balance and conserve primary resources. With about 2,000 employees, the company has a turnover of over of EUR 1 billion (2021). According to Fraunhofer UMSICHT, Interzero’s recycling activities saved one million metric tons of greenhouse gases compared to primary production and more than 12.5 million metric tons of primary raw materials in 2021 alone.