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Spotted: In the US, an estimated 2.6 million tonnes of returned products end up in landfills every year due to inefficiencies and costs associated with reverse logistics. At the same time, nonprofits spend nearly $1 billion yearly on essential goods and often face challenges finding exactly what they need.

LiquiDonate is tackling both of these problems – with a solution that uses an API called Magic Match. This proprietary software can be integrated into all returns management software and retail website backends to instantly match all unsellable returns to a nonprofit with a matching need. Customers receive a shipping label to send returns directly to nonprofits, simplifying reverse logistics for retailers.

Businesses can also use LiquiDonate’s self-serve tool to liquidate their excess inventory quickly and sustainably by donating it to the most suitable nonprofit from a network of more than 3,500 partners. Businesses can donate individual items, boxes, or entire pallets. The platform makes it easy to keep items out of landfill, and circulate them back into the economy, helping retailers meet their ESG goals at the same time as reducing costs.

As Renee Barker, LiquiDonate’s Director of Circular Economy Partnerships, explained to Springwise: “Much of the team has roots in nonprofit and sustainability work, and our culture is very centred on giving back. Our guiding mission is to accelerate the world’s transition to a circular economy, and we put that into practice every day because we are inspired by a future without waste.”

The company recently raised a $3.75 million seed funding round, led by Laconia Capital Group, which highlights the interest in using this technology to save businesses money and improve sustainability. LiquiDonate currently has more than 100 retailers onboard, with plans to grow that network of donation partners and increase the variety and volume of donations it can make available to nonprofits.

Written By: Lisa Magloff