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Reusables.com Receives Investment from Sustainable Development Technology Canada
Reusables.com, a leader in sustainable packaging, has been given $100,000 to scale its technology platform and work with food businesses.
The federal foundation Sustainable Development Technology Canada (SDTC) provided the seed funding.
VANCOUVER, BC – Reusables.com, a leading zero-waste packaging platform, secured a $100,000 seed investment from Sustainable Development Technology Canada (SDTC), an independent federal foundation that funds Canadian companies developing new climate technologies. This investment from SDTC will enable Reusables to scale its IoT-enabled technology platform and help more food business transition towards a circular economy for packaging.
Reusables’ tech-enabled platform for zero-waste packaging has emerged as an innovative solution to single-use plastic waste since its 2021 launch and has built a large pipeline of opportunities with food retailers and packaging distributors throughout North America. Reusables is backed by Ryan Holmes and Manny Padda through LOI Venture and is currently raising a seed round to expand its network in the U.S. and Canada.
Governments around the world are demanding food businesses shift away from single-use plastics towards a more circular economy for packaging. In the U.S., the Wall Street Journal reports that only 5% of plastic actually gets recycled, and alternatives like biodegradeable or compostable plastics are also coming under scrutiny. Large food businesses like Starbucks, Loblaw and Walmart have made ambitious sustainability commitments and Reusables has created a turn-key solution to help them achieve these goals.
Preview text: Press release via Waste360, August 11, 2022.