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Safi is on a mission to improve recycling efficiency by trading recyclables globally, utilizing AI for quality control and deal management.
Safi has raised $26.0M in total across 2 funding rounds.
Safi's investors include Lowercarbon Capital.
Safi is a London-based technology company that operates an online platform facilitating the global trade of recyclable materials in the recycling and waste management sector.[1][2][5] It provides AI-powered quality control for recyclables via Safi AI, enabling sellers to verify material quality for better pricing and buyers to ensure product consistency, alongside Safi Ship for automated deal management, transport, and procurement optimization.[1][2] Formerly TrueCircle, founded in 2021, Safi serves businesses buying or selling recyclables worldwide, addressing recycling inefficiency by reducing reliance on virgin materials and expanding market access.[1][2][3]
The platform tackles core pain points like opaque pricing, quality assurance, and logistics in fragmented recycling markets, driving efficiency through technology.[1][2] Backed by prominent investors including funds, the Tetrapak and Henkel families, and founders of Revolut and Monzo, Safi demonstrates strong growth momentum with plans for market expansion, localized operations, and enhanced financing integrations like partnerships with finmid for B2B payments.[1][3]
Safi originated as TrueCircle Technologies Ltd, incorporated on July 12, 2021, in London, UK, initially focused on revolutionizing recyclable trade.[1][5] The company rebranded to Safi in October 2023, evolving from its mission to combat recycling inefficiency launched under the TrueCircle name.[1][2][5] Founders assembled an ambitious team blending deep technology and industry expertise, driven by passion for sustainability challenges, though specific founder names are not detailed in available records.[3]
Early traction stemmed from addressing global trade barriers in recyclables, with the platform quickly gaining backing from high-profile investors like the Tetrapak and Henkel families and fintech founders from Revolut and Monzo.[3] Pivotal moments include developing Safi AI for quality proofing and Safi Ship for streamlined logistics, positioning it amid rising demand for circular economy solutions.[2]
Safi rides the circular economy trend, leveraging AI and digital marketplaces to transform the $500B+ global recycling industry amid regulatory pressures like EU plastic directives and corporate net-zero goals.[1][2] Timing aligns with post-2021 sustainability tech boom, where waste analytics firms like Greyparrot and Sorted proliferate in London, but Safi stands out by focusing on trade enablement rather than just sorting.[1]
Market forces favoring Safi include rising recyclable demand, supply chain disruptions, and AI adoption in waste management, enabling granular material matching and reduced landfill waste.[1][2] It influences the ecosystem by fostering B2B payments innovation and global liquidity for recyclers, accelerating decarbonization in packaging and manufacturing.[1][3]
Safi is poised for accelerated growth through core market expansions, product innovations like advanced financing, and deeper AI integrations for predictive pricing.[1] Trends like AI-driven sustainability and regulatory tailwinds will shape its path, potentially capturing larger shares in plastics and metals trade. Its influence may evolve by setting standards for digital recycling marketplaces, bridging global facilities and amplifying circular impacts—reinforcing its role as a tech linchpin in efficient, virgin-material-free recycling.[2][3]
Safi has raised $26.0M across 2 funding rounds. Most recently, it raised $20.0M Series A in November 2023.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Nov 1, 2023 | $20.0M Series A | Lowercarbon Capital | |
| Mar 1, 2022 | $6.0M Seed | Lowercarbon Capital |
