MassMutual Ventures backs DePoly

Swiss cleantech company DePoly has raised a $23 million Seed round to launch a 500-tonne-per-year PET recycling plant in Monthey, Switzerland, expected to open in summer 2025.

The round includes a strategic investment from MassMutual Ventures , alongside existing backers BASF Venture Capital, Beiersdorf Venture Capital, and Zürcher Kantonalbank.

DePoly’s technology chemically breaks down PET and polyester plastics into their original monomers without relying on fossil fuels, differentiating it from traditional mechanical recycling methods.

The showcase plant marks a step toward DePoly’s broader goal of building a commercial-scale facility capable of processing larger volumes of plastic waste.

The company has already partnered with Odlo, PTI, and Beiersdorf to demonstrate applications across fashion, consumer goods, and cosmetics.