CleanHub, a German company dedicated to preventing plastic pollution in oceans, has recently secured $7 million in funding, with Integra Partners and Lakestar leading the investment round.
The funds will be utilized by CleanHub to further its mission of halting the flow of plastic waste into oceans and driving systemic change in the waste management sector, thereby promoting the transition to a circular economy for plastic.
Jennifer Ho, a Partner at Integra Partners, expressed enthusiasm for the partnership with CleanHub, emphasizing the role of climate tech in fostering sustainable and thriving economies in emerging markets. She highlighted the potential of combining Integra Partners’ expertise in fintech with CleanHub’s innovative waste management approach to address plastic pollution in a unique manner.
Ho further commented on the alignment between CleanHub’s strong presence in Southeast Asia and their investment strategy, stating their excitement to collaborate with CleanHub in shaping sustainability both in the present and the future.
CleanHub’s analysis reveals that approximately 2 billion people residing in coastal areas lack proper waste management access. The company aims to bridge this gap in developing nations while also addressing the funding requirements for efficient waste infrastructure.
CleanHub establishes waste management partnerships in underserved coastal regions and offers plastic credits to environmentally conscious companies, catering to the growing consumer demand for sustainable products and practices. Through this process, brands have the opportunity to enhance their sustainability credentials and gain a competitive edge.
Additionally, CleanHub has developed a track and trace system that utilizes artificial intelligence (AI) and manual checks to monitor each bag of waste, including weighing and photographing, ensuring accountability. With increasing scrutiny on greenwashing, brands seek transparency in their climate initiatives.
CleanHub has set a new standard for transparency and rigor in the plastic credit market by becoming the first plastic credit system verified by TÜV SÜD under the ISO 14064-3 standard, specifically adapted for plastic credit verification.
In its pursuit of advancing the circular economy and ensuring the effective collection, processing, and reintroduction of plastic waste, CleanHub collaborates with partners.
- Press release
