USEFULL Announces $1.7 Million Pre-Seed Round to Scale Tech-Enabled Returnable Packaging Solution
USEFULL, Inc. is pleased to announce a successful Pre-Seed Investment round of $1.7M with UBMB, LLC. With this investment, Spencer Gaffney of UBMB will be joining the Board.
USEFULL is a tech-enabled circular economy solution designed to eliminate single-use food/beverage products. USEFULL enables organizations and communities to meet their zero waste goals by providing proprietary technology and patent pending inventory of vacuum insulated stainless steel to-go cups and containers. Via the USEFULL app, users can checkout and return the to-go food/drink packaging anywhere within the network.
Today, 99% of single use food/drink packaging waste ends up in the landfill, incinerator, or as litter. That paper, plastic, styrofoam, or compostable packaging can’t be recycled – it’s simply “wishcycling”. Compostable packaging is also expensive and difficult to properly sort – and some packaging contains the chemical PFAS to help waterproof, which is now banned in VT, MN, CA, CT, the EU, etc. Many compost companies no longer accept compostable packaging.
Organizations have made failed attempts to adopt zero waste solutions due to poor quality reusable containers (plastic) and lack of technology-based inventory control. With USEFULL, organizations save money, meet their sustainability goals, and market their zero waste initiatives.
“Organizations are increasingly looking for ways to transition towards zero waste, and it was clear to us that USEFULL has a powerful solution to that challenge,” Spencer Gaffney said. “We are so excited to partner with Alison to help her build out the company and bring that solution to market.”
USEFULL is led by Founder & CEO Alison Rogers and a team that includes Olivia Kelly, Director of Strategic Growth, Igor Belagorudsky, Chief Technology Officer, Derek Neilson, Impact Consultant, and Advisor Jack Kutner.
This pre-seed investment enables Alison to build the team and scale the USEFULL offering. The team’s focus in the near-term will be ensuring their early customers have tremendous success with their USEFULL implementations. These clients include Mount Holyoke College, Carleton College, CommUnity Reusables, Lexington Zero Waste, and the community on Block Island (supported by an EPA SBIR Grant). USEFULL’s most immediate next hires are Head of Customer Engagement and Head of Operations & Product Management.
“This investment is transformational for USEFULL. We are excited about the partnership with Spencer and the UBMB team to scale our impact and continue to revolutionize on-the-go consumption,” said Alison Rogers. “When I reflect on my life, I want to be able to say that I helped to catapult the reuse revolution; this investment gets us a step closer.”