South Korea-based waste management startup Reco has secured KRW 58.5 billion in Series C funding to enhance its technology-driven waste processing solutions. The funding round was led by Ingka Investments, the investment arm of Ingka Group, with additional backing from the Korea Development Bank (KDB) and existing investors GS and D3 Jubilee Partners.
Reco operates UpBox, a B2B waste management platform serving industries such as hospitality, manufacturing, and retail. Its digital infrastructure, UpBox Cloud, integrates with South Korea’s regulatory systems to streamline waste collection, recycling, and data tracking, reducing administrative overhead for businesses.
With the fresh capital, Reco plans to strengthen its waste management services, expand its expertise in food waste nationwide, and explore global market opportunities. The company will also invest in enhancing its data-driven waste management platform and scaling its development team to advance its technological capabilities.
