# Safi

> Safi is a climate-tech company building software for the recycling industry. It launched in 2021 as TrueCircle and first operated the recycling sector's first digital B2B marketplace, matching international buyers and sellers of recyclable plastics, paper and metals with quality verification, logistics and embedded financing. The company reached more than $40M in annualized GMV within its first year. It has since sharpened its focus on AI-powered quality control - a computer-vision product that turns a phone photo of a bale into instant composition data for PET, HDPE and aluminium cans, helping recyclers price and plan material more accurately. Led by CEO Rishi Stocker, Safi raised a $19.5M Series A in 2023 and works with recyclers across dozens of countries.

- **Founded:** 2021
- **Headquarters:** London, United Kingdom
- **Founders:** Rishi Stocker (Co-Founder & CEO), Eamon Jubbawy (Co-Founder), Chris Charles (Co-Founder / Operations)
- **Team size:** Approximately 90 employees (estimates range 50-91)
- **Products:** Recyclables Marketplace, AI Quality Control, Site Quality Control, Production Planning, Procurement Analytics
- **Notable:** Grew from $0 to $40M+ in annualized GMV within roughly one year of launching its marketplace, Traded tens of thousands of tonnes of recyclables, cited at 79,000+ tonnes and 160,000+ tonnes CO2e prevented, Raised a $19.5M Series A in November 2023, reportedly closing in about four weeks

## Products & services

- **Recyclables Marketplace** — The recycling industry's first digital B2B marketplace, matching international buyers and sellers of recyclable plastics, paper and metals with AI-assisted quality verification, logistics and deal management. Now framed as the company's founding chapter.
- **AI Quality Control** — Computer-vision product that analyzes material composition from a phone photo in about 3 seconds at roughly 95% accuracy, purpose-built for PET, HDPE and used beverage cans - no bale-breaking required.
- **Site Quality Control** — Checks composition and contamination across incoming and outgoing loads so recyclers can act on quality issues immediately.
- **Production Planning** — Uses composition data to guide bale selection and predict yield for production runs.
- **Procurement Analytics** — Benchmarks suppliers on quality to inform buying decisions.
- **Embedded Financing** — Early payouts for sellers and extended terms for buyers, delivered via a partnership with finmid.

## Achievements

- Grew from $0 to $40M+ in annualized GMV within roughly one year of launching its marketplace
- Traded tens of thousands of tonnes of recyclables, cited at 79,000+ tonnes and 160,000+ tonnes CO2e prevented
- Raised a $19.5M Series A in November 2023, reportedly closing in about four weeks
- Named a 'Challenger' in CB Insights' recycling robots market analysis
- Reports AI quality control in use across 80+ recycling sites in 25+ countries

## Latest updates

- **2023-05** — TrueCircle rebrands to Safi.
- **2023-11** — Raises $19.5M Series A led by Nosara Capital and enters the US market.
- **2023-12** — Announces embedded-financing partnership with finmid.
- **2024-03** — Publishes Ecoiberia case study on saving on the price of PET with Safi AI.
- **2025-01** — Repositions around 'Safi AI' - AI quality control for PET, HDPE and used beverage cans, cited across 80+ sites in 25+ countries.

## Links

- Website: https://safi.co
- LinkedIn: https://www.linkedin.com/company/safi-co

---

Profile page: https://yespress.io/safi
Published by YesPress — https://yespress.io
Last updated: 2026-07-25