Funding

[Funding alert] Amsterdam-based Renewaball Secures €3 Million in Funding

Apr 12, 2024 | By Startup Rise EU

Renewaball, the company behind the world’s first circular tennis and padel balls, secures €3 million in funding.

Renewaball, the company behind the world’s first circular tennis and padel balls, secures €3 million in funding.

Rubio effect Ventures led this fundraising round, which will enable Renewaball to fast-track its goal of significantly lowering the environmental effect of tennis and padel balls throughout Europe.

Hoogeboom said: “Every year, more than 350 million tennis balls are used worldwide, not even counting padel balls. With each stroke, countless microplastic particles are released, which we breathe in or end up in the ground when playing outdoors.”

Renewaball felt is manufactured entirely of organic wool and cotton from Europe; it doesn't contain any polyester or nylon, which means that no microplastics are emitted. In the end, 97% of all balls find their way into the garbage.

Read also - London-based Avenir Raises €487k in Pre-Seed Funding

There is a significant impact on the climate. That is being altered by Renewaball. The first round tennis and padel ball in history is constructed entirely of recyclable old or used balls.

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Hoogeboom said, “Now that we’ve secured the backing of impact investor Rubio alongside our existing supporters, it’s a clear validation of trust in our company. With this groundwork laid, we’re eager to expand further, ensuring that everyone in Europe can enjoy tennis and/or padel with confidence in a greener game,”.

Helmer Schukken, managing partner at Rubio, indicated that through their investment in Renewaball, they are significantly reducing the ecological footprint of tennis and padel balls in Europe: “Hélène and her partners Marc Rouffaer and Gunther van de Rijt have impressed us with their dedication to driving positive change in the industry. We believe that by supporting Renewaball, we can contribute to a mindset shift towards sustainability in tennis and padel.”

About Renewaball

Renewaball was the first company to produce tennis balls that had been recycled. The WTT Rotterdam Ahoy event, currently known as the ABN AMRO Open, was where ABN AMRO Bank gave them as a promotional present to business contacts and relationships.

An essential innovation that lay behind that first ball was the way a used tennis ball could be divided into neat, distinct felt and rubber partitions. No one had done this successfully before.

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