Chilean recycling startup TriCiclos receives US$2.6M investment

TriCiclos is more than just a regional recycling company. With operations in Chile, Peru, Colombia, and Brazil, TriCiclos provides both recycling pickup services as well as industrial services that help companies manage their waste at scale.

TriCiclos has already faced major challenges in its development, receiving investment to build an office in São Paulo in 2014 (right before the Brazilian economic crisis) was a significant one. Nonetheless, they now operate in 14 states in Brazil and with dozens of regional partners.

The company recently received US$2.6M led by FCP Innovación, the Medellin Public Utilities investment, with participation from social investment fund FIS-Ameris in Chile and Small Giants, an Australian impact investment fund. TriCiclos is currently focused on developing their best practices for the circular economy, closing the cycle for some of the most polluting chemicals used in manufacturing today.

Thanks to support from Corfo, TriCiclos has been able to develop a machine that turns plastic residue into children’s toys, an example of where investment in the circular economy can lead.

Most importantly, the new fund is pushing TriCiclos to think international:

“We are receiving pressure from our new board to start expanding internationally in the next three years. In this context, we believe that in five years we might reach another continent,” said founder Gonzalo Muñoz in his interview for El Mercurio.

Read more about TriCiclos here:

El Mercurio article

El Observador coverage

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