Through its seed fund, SDTC invested $100,000 into the Vancouver-based zero-waste platform to enhance its tracking technology
Reusables is backed by Ryan Holmes and Manny Padda through LOI Venture. (Credit: Hans from Pixabay)
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.
“SDTC invests in clean technology trailblazers with the potential to transform the environmental and economic prosperity of Canada,” said Jason Hawkins, the CEO and Co-Founder of Reusables. “We are honoured to receive their backing and look forward to a long-term partnership focused on impact.”
“To seize the opportunities of the Net Zero economy in Canada, we need to be supporting all stages of innovation. Seed companies like Reusables represent the next generation of sustainable solutions paving the way to a greener future. SDTC is proud to support innovative young companies get their ideas off the ground.”
– Leah Lawrence, President, and CEO of SDTC
Reusables was also recently accepted into the Canadian Technology Accelerator (CTA) for climate-tech companies looking to expand into the U.S. and raise capital.
Source: Company Press Release