ETF Partners et al. back Phenix

ETF Partners, BPI France, Sofiouest and Arkea took part in the round.

BPI France used its €50m Ville de Demain fund for the transaction. The vehicle invests €500,000-2m in companies in four segments: urban design and environment, building usage, energy and networks, and mobility and innovative urban services.

The startup plans to use the new funding to accelerate its international development and is currently developing its presence in Spain and Portugal. The round of funding will also help the business invest in the development of new digital services and expand its activity towards the management of new waste streams.

Company
Founded in 2014 with a focus on food recycling, Phenix finds a use for unsold food and non-food products, offering an alternative to landfills and incineration.

The company manages activities including donations to charity, selling as animal feed and recycling. The startup works in close collaboration with around 950 associations. 

With facilities in France, Denmark, the US, Spain and Portugal, Phenix claims to save 50 tons of waste every day.

People
Phenix - Jean Moreau (co-founder, president).

Advisers
Equity - Grant Thornton (financial due diligence); Gide (legal).
Company - Alpha Capital Partners (corporate finance); D'Alverny Avocats (legal).  

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