CupClub Closes $460K+ Pre Seed Round to Tackle the Global Plastics Epidemic
7 February 2019
CupClub, a returnable packaging service for drinks managed through cloud-based IoT software, has closed a $460K (£360K) pre-seed round with Seedcamp, joining previously announced backers R/GA Ventures, Ellen MacArthur Foundation and a number of Angel investors. British tech startup CupClub, a returnable packaging service for drinks provided to brands and retailers to eliminate single-use cups, has raised pre seed funding from institutional investors Seedcamp, R/GA Ventures and a number of Angel investors to tackle the global plastics epidemic.
Over 14 million disposable coffee cups are used every day in the UK, with just 1% being recycled. CupClub is the world's first returnable packaging service for drinks that utilizes RFID technology and cloud-based IoT software to provide complete supply chain traceability to brands and retailers, making drinking coffee on-the-go more sustainable.
Following a successful trial with catering company CH&Co and a pilot with commercial real estate group Cushman & Wakefield to integrate its returnable packaging service for drinks across cafes and canteens in university and HQ offices, CupClub has secured $460K (£360K) in private investment to develop its product and drive expansion across London.
“Our mission is to eliminate single-use packaging to enable brands and retailers to empower their customers to experience takeaway without the throwaway. We are building one of the world's first returnable packaging systems that is optimised using IoT technology, enabling us to distribute, collect and wash packaging designed for multi-use” says Safia Qureshi, Founder & CEO of CupClub. “This funding will help us develop our product and service for brands and retailers and allow consumers to enjoy their everyday on-the-go lifestyle without the landfill. We’re building the future we want to see: one that eliminates plastic waste and reduces our carbon footprint.”
"We're excited to invest in Safia and the brilliant team at CupClub who are attacking the single-use plastic problem head-on." Carlos Espinal, Seedcamp Managing Partner
In addition to this group of institutional investors, CupClub has assembled an advisory team of business leaders and sustainability champions including Gavin Starks as a Non-Executive Director (previously founding CEO of the Open Data Institute), Vivek Syal as CFO (previously Head of Financial Planning and Analysis at Barclays Capital) and Simon Milman as COO (previously Operations Director at Tagra.)
For more information, please see our press pack or contact firstname.lastname@example.org
Safia Qureshi Founder & CEO
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