RecycleBank on Tuesday said that it has raised $30 million to increase its operations in the U.S. and expand into Europe.
The series B round came from Kleiner Perkins Caufield & Byers, RRE Ventures, Sigma Partners, and The Westly Group.
The company has developed a novel business model to incentivize consumers to recycle more.
It gives households points based on the total weight of what they recycle rather than throw away. Those points can be redeemed to purchase more consumer goods, like food and coffee.
So far, RecycleBank has gotten 40 municipalities in the northeastern United States to sign … Read more