Leonardo DiCaprio's Regeneration VC fills $1.6 million funding gap in AI recycling startup Greyparrot after key investor falls short on commitment
The London-based recycling startup had announced an $11 million Series A round last year.
London-based Greyparrot announced an $11 million Series A investment round in May 2022 but the company sought out further funding after lead investor Una Terra could only fulfill part of its initial commitment.fund for ESG investments. Regeneration VC's check replaces the missing part of Una Terra's investment.
Luca Serbini, founding partner and CEO of Una Terra, had taken a Greyparrot board seat in April last year but was removed in October and later replaced by Regeneration VC partner Michael Smith, according to Companies House filings. "We were speaking to them for a while and we were very keen to get them on the cap table, so it was in the end very good timing," Druckman said.
Having another US investor on board is an advantage to Greyparrot as it expands geographically and eyes the US market, Druckman said. Regeneration VC joins New York firm Closed Loop Ventures as Greyparrot's stateside backers.
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