ReSmart raises $1.138M as early backer Antler doubles down on recycling platform nearing breakeven
What's the deal? Sydney-based recycling and reverse logistics platform ReSmartDealroom has a profile for this one. Try Dealroom → has closed a $1.138M equity crowdfunding raise, drawing 783 investors on the OnMarketDealroom has a profile for this one. Try Dealroom → platform. Early-stage global VC firm AntlerDealroom has a profile for this one. Try Dealroom → participated for the fourth consecutive round since backing ReSmart in its very first cohort in Australia in 2019.
The company, formerly known as RecycleSmart, has previously raised $4M. It operates a technology platform connecting households, businesses, and councils with collection and recycling services across seven Australian capital cities.
Why now? ReSmart says it is approaching breakeven, with annual recurring revenue up 44% year on year and B2B revenue more than doubling over the same period. The company has completed over 445,000 collections and diverted more than 2.3 million kilograms of waste from landfill since inception.
"Antler wrote our very first cheque — we were part of cohort one in Australia," chief executive Giorgio Baracchi told Business News Australia. "They've backed us in every single round since. That level of continued conviction from your first investor is rare and speaks to the strength of what we've built."
ReSmart now works with 29 local councils and counts QantasDealroom has a profile for this one. Try Dealroom →, WestpacDealroom has a profile for this one. Try Dealroom →, Canva, Lululemon, and The Iconic among its brand partners.
What could go wrong? Equity crowdfunding carries inherent risks for retail investors, particularly in early-stage companies that have yet to reach profitability. While approaching breakeven is promising, the path from "nearing" to "achieving" sustainable margins can be longer than expected — especially for capital-light platforms that depend on third-party collection and recycling infrastructure.
The signal: Antler's repeated participation highlights a growing trend of early-stage VCs maintaining conviction through multiple rounds rather than handing off to later-stage investors. It also reflects rising investor appetite for waste and circular-economy startups as regulatory pressure and consumer demand for sustainable solutions intensify across Australia. ReSmart's pivot toward B2B revenue — now its fastest-growing segment — mirrors a broader pattern among consumer-facing platforms seeking more predictable, higher-margin enterprise contracts.
Read more: businessnewsaustralia.com
