Circular economy platform Loopfront raises $6m USD

Loopfront – the digital circular management platform for business and government – announces an investment of $6 million USD in a late Seed round led by ProVenture. The funding will be used to strengthen Loopfront’s ability to help customers reuse building materials, fixtures, and office furniture.

Trondheim, December 20, 2021 - Loopfront AS is a circular economy focused, cloud based IT-start up focused on solving the global environmental challenges real estate and construction sectors have with circularity. The Loopfront platform is a Circular Management System which enables business and government to increase reuse of building materials, fixtures, and office furniture. Loopfront simplifies and facilitates cooperation between many stakeholders with varying roles.

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Loopfront secured a late Seed funding round of 6 million US dollars over two rounds, led by ProVenture; Wiski Capital and Aidiom participated in the round.

“With this round we are set for further growth and continued expansion of our great team. We will start the new year by onboarding two new senior executives and I’m very pleased to have the toolbox ready before they join us.” says Michael Anthony Curtis, Founder and CEO of Loopfront.

Loopfront’s is gearing up to become the leading European digital platform for reuse and contribute significantly to the success of the new EU Circular Action Plan. Over 30 large commercial real estate owners, medical hospitals, educational institutions and central and local government in Norway, Sweden and Germany are already active users of the Loopfront platform.

We are impressed by the momentum Loopfront have gained in such a short timeframe, and their ability to attract top talent. The company is a forefront runner in a fast-growing market, helping companies and organizations to materially reduce their costs and carbon footprint in a seamless way. Resource efficiency and circular economy is one of our focus areas and we’re thrilled to add Loopfront to the ProVenture portfolio - says Tom Arnøy, Senior Partner in ProVenture.

"Our sweet spot is finding companies that have achieved a proper product market fit. Loopfront has the combination of an already strong client base and products that solve key problems within the circular economy. Undoubtedly, they are well positioned to become the market leader, says Øystein R. Skiri, Partner at Wiski Capital."

“Loopfront addresses is a billion-dollar market opportunity,” says Jon Øyvind Eriksen of Aidiom, a specialist investor in artificial intelligence (AI) software. “Loopfront’s circular economy management platform helps large organizations like government and enterprises realize the gains of the circular economy, which represents an additional value creation of $4.5 trillion USD by 2030, according to market analysts.”

“We are very glad to welcome ProVenture Seed and Wiski Capital as new investors. Loopfront has a very strong investor base and is well funded for international expansion,” says Thor Egil Five, Chair of Loopfront.

Loopfront - Advantages for building owners and tenants:

• Building owners and tenants use Loopfront to easily register furniture, fixtures, equipment, and materials in existing buildings and premises planned for rehabilitation or demolishing, seeing savings instantly.
• Logistical processes including demounting, storage, transport, and other circular activities can be planned in cooperation with service providers.
• Materials can be reserved for re-use internally or sold.
• All circular activities can be followed live in reports gathered which show how much building waste, carbon emissions, circularity in accordance with EU requirements, as well as economic savings.

About Loopfront

Loopfront AS (loopfront.com) provides a circular management platform, which enables business and government to reuse building materials, fixtures and furniture. The company was founded in 2018, and has offices in Norway, Sweden and Germany. More info: www.loopfront.com

Contact info:

Loopfront AS:

Chairman Thor Egil Five +47 907 51 038 thoregilfive@ficas.no

CEO Michael Curtis +47 456 83 625 michael@loopfront.com

Thor Egil Five, Chair of Loopfront.

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