Metaloop Raises $17M Series A Led By FirstMark For Metal Recycling Marketplace
FirstMark is thrilled to announce our Series A investment in Metaloop, a groundbreaking marketplace for metal recycling based in Austria, a manufacturing hub for the $4 trillion metal industry (which is accountable for 7% of global carbon emissions).
We’re proud to partner with Co-Founders Jan Pannenbäcker and Alexander Schlick, who have built an all-in-one managed marketplace for businesses to buy and sell scrap metal, thereby improving both bottom lines and dramatically reducing carbon emissions.
The global secondary metal industry is currently a $58B market (growing 8% annually), which enables manufacturers around the globe to build everything from cars to buildings. To meet this growing demand, millions of tons of frequently used metals like steel, aluminum, or copper are mined from the ground (primary) or recycled (secondary).
Scrap metal (the metal waste from manufacturing processes or post-consumer) can be recycled endlessly, while conserving natural resources, reducing energy consumption, minimizing pollution from mining virgin metals, and reducing production costs.
Metaloop powers the recycling of scrap metal via its two-sided marketplace, providing a full-service solution for sellers, ensuring pricing and operational excellence, verifying, aggregating, and listing inventory, matching them with qualifying bids, and organizing delivery, financing, and payments through their platform and logistics network.