Purpose
The opportunity
LabCycle is the first company on the market to create a circular economy for single-use plastic waste from Safety Level 1 & 2 labs and healthcare settings..
5.5M tonnes of lab plastics annually in the biomedical sector alone is incinerated. LabCycle decontaminates and sells the high-grade plastic waste to create the world’s first 100% recycled lab products.
Rationale
Why We Invested
A combination of team credibility, sustainable purpose and market opportunity led AIB to support LabCycle. The company has won a number of awards and is now accelerating their scalability.
We’re proud to be co-investing along side QantX, Angel Academe and a number of other private angels. LabCycle is also part of the NHS Accelerator (NHS England Health Innovation Network), which gives companies access into the NHS network.
Future
Use of Funds
With a huge prospect pipeline opportunity, the investment will support plans to move to a larger facility and grow the team allowing LabCycle to service the growing customer base.
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