Swiss cleantech startup DePoly has raised $23 million in seed funding to tackle the global plastic waste crisis with a game-changing recycling solution. The round was led by MassMutual Ventures, with participation from Founderful, ACE & Company, Angel Invest, Zürcher Kantonalbank, BASF Venture Capital, Beiersdorf Venture Capital, and Syensqo.
This new investment will fund the launch of a 500-tonne-per-year showcase plant in Monthey, Switzerland, this summer—marking a crucial step toward industrial-scale operations. DePoly previously raised $13.8 million in 2023, and this new funding positions it among Europe’s top recycling tech innovators.
A New Way to Recycle Polyester and PET Waste
DePoly’s founders—Dr. Samantha Anderson (CEO), Dr. Christopher Ireland (CSO), and Dr. Bardiya Valizadeh (CTO)—bring deep expertise in chemistry, materials science, and engineering. Together, they have developed a proprietary recycling process that breaks down PET and polyester waste into virgin-quality monomers—without using fossil fuels.
Unlike traditional methods, DePoly’s tech works with complex, contaminated plastics, including polyester clothing and plastic bottles, without degrading the quality of the output. This breakthrough paves the way for a truly circular plastics economy, where materials can be reused over and over again without compromise.
DePoly’s recycled monomers have already passed rigorous testing by global brands in fashion, cosmetics, and consumer goods. The company’s partnerships with Odlo and PTI demonstrate that its recycled materials can be used to produce high-performance textile fibres, cosmetic packaging, and new bottles—all meeting or exceeding industry standards.
This validation supports DePoly’s vision: turning waste into high-quality raw materials that match or outperform virgin alternatives.
Scaling for Global Impact
Looking ahead, DePoly plans to open a commercial-scale plant by 2027, capable of processing significantly higher volumes of PET and polyester. This plant will build on the success of the upcoming Monthey facility and marks a bold step toward DePoly’s goal of becoming a global leader in circular plastics.
By delivering oil-equivalent monomers, DePoly offers a cost-effective and sustainable alternative to fossil-based plastics—helping reduce carbon emissions and landfill waste.
Recognized by the World Economic Forum as a Technology Pioneer and a winner of the 2024 Top 100 Swiss Startup Award, DePoly is already proving that sustainable innovation is not just possible—it’s scalable.
“The showcase plant validates our roadmap to a truly circular plastics market,” said Samantha Anderson, Co-founder & CEO. “Our next goal is to scale to commercial size with a first-of-its-kind plant using our core technology.”
Alix Brunet, Europe Lead at MassMutual Ventures, added, “DePoly’s technology is a game changer addressing a major environmental challenge. This raise and the showcase plant strengthen its leadership in plastic recycling.”
Leadership and Global Expansion
Joining the executive team in 2024, David Hanf brings experience from European scale-ups like Smava and Thermondo, Germany’s largest B2C heat service provider. As DePoly’s new CFO, Hanf is confident in the scalability of the company’s solution.
“Our technology is fast to scale and can compete with virgin pricing—crucial for long-term success,” Hanf noted. “With new US investors like MassMutual Ventures, we’re ready to become a global recycling champion.”
