Australian Entrepreneurs Secure $300,000 Shark Tank Offer To Help Launch New Recycling Solutions
Retold Recycling receives Mark Cuban’s seal of approval on their #NoLandfill mission
SAN FRANCISCO, Feb. 21, 2023 /PRNewswire/ — Retold Recycling – a convenient and sustainable textile recycling start-up founded by two Aussies – received a $300,000 deal in exchange for a 25% stake in their company from famed Shark, Mark Cuban.
California-based Retold Recycling empowers consumers by making it convenient to responsibly dispose of clothing and other fabrics, diverting that waste from landfill. Customers can purchase ready-to-ship Retold bags to fill with any unwanted household textiles, eliminating the burden of determining the best recycling solution for each submission. Items are sorted and given a second life – clearing to thrift stores, rag companies, downcyclers, and soon, circular fiber producers. Since its 2020 launch, Retold Recycling has diverted over 100,000 pounds (50 tons) of fabric waste from landfill.
The two Australians, Amelia Trumble and Alan Yeoh – who met in NYC as executives at MAC Cosmetics – stood before the Sharks during Friday night’s episode of the American TV show to deliver their pitch, explaining their ‘#NoLandfill’ vision and how the brand is tackling the major issue of textile waste with this first and only solution of its kind in the USA. Cuban saw the opportunity for the business to scale into retail and to truly own the category that Retold has innovated.
Amelia Trumble, CEO of Retold Recycling shares: “Despite playful banter about our accents and plenty of drama in the Tank, Mark was able to cut through the noise and immediately understood our vision and how we could scale. His past history of betting on solutions that help society at large meant that we knew he was the perfect Shark for us!”
Retold is planning to develop new recycling solutions, expand into retail partners, continue to upgrade its technology, and add to its growing list of brand partners which have included Jenni Kayne, Verizon, Boody, and Vitamin A Swim.
About Retold Recycling
Retold Recycling is a convenient service for recycling household textiles, sustainably diverting them from landfills. Items sent in each yellow Retold bag are sorted before going to thrift stores, reuse partners, and upcyclers. With a passion for eradicating landfill at its core, Retold Recycling aims to build a community of subscribers “woke” to the tons of textiles thrown away daily, via its mantra and vision: #nolandfill.
SOURCE Retold Recycling
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