Sogrape Ventures has made its inaugural investment in the Spanish startup Candam Tech, which specializes in developing hardware and software solutions for waste management. This investment marks a significant step for Sogrape Ventures, managed by Beta Capital, with an initial fund allocation of five million euros.
The decision to invest in Candam Tech is seen as a strategic move for Sogrape, aligning with their sustainability goals, especially regarding the recycling of glass from their bottles.
Candam Tech, founded in 2019, focuses on incentivizing proper recycling practices through reward schemes for individuals who separate their waste correctly. This partnership is expected to accelerate Candam’s expansion into Portugal and other key European markets, addressing the pressing challenge of efficient waste management and promoting a circular economy.
Candam Tech has already established contracts with waste management companies and is involved in pilot projects across the Iberian Peninsula, collaborating with organizations such as Sociedade Ponto Verde and Tratolixo.