Sogrape Ventures Announces Its First Investment In The Start-up Candam Tech
Sogrape, a leading family-owned wine company in Portugal, reveals its first investment through the Sogrape Ventures Risk Capital Fund in Candam Tech, a Spanish company pioneering hardware and software solutions for waste management, with a special focus on beverage packaging, particularly glass and aluminum.
This investment round, totalling 1.1 million euros, includes Sogrape and other significant investors such as EIT InnoEnergy, Impact Ventures, Enion Venture Partners, and CDTI Invierte, some of the most important players in the European Venture Capital scene.
Founded in 2019, Candam Tech develops systems that, through an innovative approach, encourage correct recycling practices by enabling reward schemes associated with incentives for those who effectively separate waste. One of the standout products of this Spanish start-up is the RecySmart "Smart ring," a device that uses patented acoustic material recognition technology. This system, powered by a robust Artificial Intelligence model, recognizes the types of packaging material introduced into containers in real-time. Candam Tech's products are already present in the market, with established contracts with waste management companies and participation in pilot projects with various stakeholders in the Iberian Peninsula, including municipalities, retailers, and the industry, such as Sociedade Ponto Verde, Tratolixo, Câmara Municipal de Mafra, Pre Zero, Sotkon, Plataforma Vidro+, and AIVE – Associação dos Industriais do Vidro de Embalagens, among others, reinforcing its credibility, commitment, and total alignment with industry leaders.
“Candam Technologies is pleased to announce the incorporation of Sogrape, through its Sogrape Ventures Investment Fund, as a new strategic investor. This partnership will allow Candam to accelerate its expansion in Portugal and other key markets in Europe, further strengthening its presence on the continent. Through this alliance, both companies join forces to tackle one of today's main environmental challenges: efficient waste management and the promotion of the circular economy in the region. Sogrape and Candam are committed to leading the transition to greater sustainability, not only meeting regulatory requirements but also adopting technological solutions that provide tangible positive impacts, both locally and globally”, says Jordi Berguinzo, CEO of Candam Technologies.
“This investment is a strategic decision for Sogrape, as it aligns with our Sustainability commitments, particularly in terms of recycling the glass from our bottles, and is a real demonstration of our positioning and Iberian focus. Additionally, it positions us alongside solid Venture Capital partners, supporting a company that we believe can revolutionize the waste management industry. We are excited about the potential of this partnership and the positive impact it will have on our environment, our communities, and our industry”, says André Campos, Executive Board Member of Sogrape.
This investment represents a significant step in Sogrape's commitment to innovation and sustainability in the wine sector. Launched at the end of 2023, the Sogrape Ventures Fund aims to invest in and accelerate the ecosystem of disruptive start-ups with innovative solutions within the wine industry's value chain in particular, and the beverage industry in general, favoring early-stage projects with a positive approach to ESG (Environmental, Social, and Corporate Governance) aspects.
The Fund, with capital fully owned by Sogrape, is managed by Beta Capital, a reference entity in the Venture Capital area in Portugal.
For more information, visit Sogrape Ventures.
