Why we backed Banqloop 💚

We’re tremendously excited to announce our PreSeed investment in Banqloop: a SustainableTech startup HQ’d in San Francisco, with ambitious goals and a solid vision for global expansion in waste management. They have scaled rapidly from a team of 6 to over 25 (and growing), while facing the challenges brought on by a global pandemic.

Vision

Waste will no longer be contaminated, but perfectly organized, broken down, and sent to manufacturers to once again enter the consumer cycle.

Built on Three Pillars

• Restoring and protecting the environment
• Empowering people to supercharge the economy
• Transforming our relationship with waste

The company is addressing a massive market, and plans to transform your relationship with waste. They have major inroads already, to roll out strategically via municipal, commercial, and lifestyle partnerships. Their beachhead products are in ZeroWaste, BanqOne, BanqCore, and LoopIQ.

Their solutions can reduce 55% of municipal costs (according to their research), while improving safety to users and the environment. BANQ X1 will issue you a Carbon Point Score, based on your carbon reduction savings, that you can either bank or sell on an open market. You’ll be able to quantify exactly how you’re achieving your mandate.

Value Chains:

• material analysis
• auto-sort
• grinds material
• vacuum packs raw material
• live data collection
• pick-up notification
• green score
• deposit refund
• gamified experience

Why Now?

The world generates 2.01 billion tonnes of municipal solid waste annually, with at least 33% of that — extremely conservatively, is not managed in an environmentally safe manner. Worldwide, waste generated per person per day averages 0.74 kilogram but ranges widely, from 0.11 to 4.54 kilograms.

In the US, the federal government’s diversion rates are around 70% (‘recycling’) and have leveled off for the past 10 years — according the the EPA. Across the US, municipal diversion rates are much less — at around 30% noted by the EPA in 2018.

Source: US EPA

Banqloop believes they can radically improve diversion rates, by greatly improving economics in the process, through patented products along the supply chain.

Who Are They?

What’s Next?

They were recently invited to COP26, and aim to address climate, water, and waste challenges globally, in support of the UNs Sustainable Development Goals (SDGs).

We are proud of their progress, and excited to be one of their early backers!

Media:

Banqloop: https://banqloop.com/

CEOs Story: https://www.podbean.com/media/share/pb-r8taz-e1a34e?utm_campaign=w_share_ep&utm_medium=dlink&utm_source=w_share

Times of San Diego: https://timesofsandiego.com/business/2021/02/09/companies-to-test-covid-19-health-safety-concepts-at-sd-airports-innovation-lab/

WBOC: https://www.wboc.com/story/42888656/banqloop-release-set-to-change-the-face-of-waste-management-ecosystems