Edinburgh-based circular economy startup, Reath, has been awarded a coveted spot in Elemental Excelerator’s portfolio - the global non-profit accelerator for climate technologies.
Based in the U.S., Elemental operates globally and is led by CEO Dawn Lippert. This year, just 19 companies were selected for Cohort X, including Reath, which has developed the world's first Open Data Standard (reuse.id) to help companies adopt reusable/refillable packaging systems.
Recognising the cutting-edge research Reath has conducted to date on the urgent need for standardisation in creating scalable reusable packaging systems, Elemental will invest $300,000 to help Reath deploy and scale its pioneering technology.
The investment comes as Reath continues to gain traction among reuse brands like Bower Collective and international retailers such as Marks & Spencers, which it is currently helping to transition its zero-waste grocery system from paper-based to fully-digital systems - saving time and increasing accuracy.
Backed by Innovate UK, Tech Nation and Founders Factory, Reath recently raised a pre-seed funding round from Techstart VC and CVC Philanthropy.
Co-Founder of Reath, Claire Rampen, said:
“We are delighted to have received this backing from Elemental, and to have our work recognised as a leading global solution. We are looking forward to being part of the Elemental Cohort X, and leveraging Elemental’s support to help more businesses transition from linear to circular economy systems.”