Excess Materials Exchange funding news – Amsterdam-based Excess Materials Exchange has Raised $5Million in  Series A Round Funding

Wa’ed Ventures is a $500M venture capital fund backed by Aramco, focused on supporting local tech startups and encouraging global entrepreneurs to bring their innovations to Saudi Arabia.

Anas Al-Qahtani, CEO of Wa’ed Ventures said, “We believe in supporting startups that provide effective solutions to shape the future of sustainable infrastructure, and EME’s solutions are a powerful catalyst for promoting sustainable practices among businesses, and we look forward to working with the founding team to localise these solutions in the Kingdom,”.

Utilisation of fund

The Dutch company will use the funds to adapt its technologies for Saudi Arabia through its partnership with Wa’ed Ventures and grow into new markets in the region.

Excess Materials Exchange (EME) was founded in 2017 by Christian van Maren to help companies track and exchange surplus materials, reducing waste and focusing on valuable reuse and recycling.

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The company uses its own technology that combines the Internet of Things (IoT) and artificial intelligence (AI) to improve material flows, lower carbon emissions, and boost recycling efficiency.

EME's platform matches available materials with demand and finds the best reuse opportunities. It also uses AI and blockchain to securely share data, encouraging innovation in material reuse.

This approach helps companies become more resourceful, lower their environmental impact, and increase profits by turning waste into valuable resources.

Christian van Maren says, “Our mission is to help companies launch high-value solutions for their waste and integrate sustainability principles directly into the fabric of their operations. The support from Wa’ed Fund will be of intrinsic value to us as we localise our technologies in the Kingdom, paving the way to create a new era of smart and sustainable systems across the Middle East and beyond.”

About Excess Materials Exchange

The Excess Materials Exchange (EME) is an online platform where businesses can exchange excess materials. We match available materials with the best reuse opportunities, similar to how a dating site matches people.