What RECO does

RECO (리코) is a South Korean waste and resource management company founded in 2018, operating a B2B platform branded UpBox (업박스) that serves business facilities generating industrial or commercial waste. The company delivers an integrated one-stop service across four modules: on-site waste emission environment improvement (including installation of customized sorting facilities), GPS-tracked dedicated-vehicle collection and transportation, management-work automation via a dedicated web and mobile software platform, and resource circulation/upcycling of materials such as food waste and plastics. Its proprietary technology stack combines a fleet of GPS-equipped trucks, measurement-capable dedicated containers (open, enclosed, multi, and food-waste variants), and a web/app software layer that automates discharge monitoring, real-time billing, and regulatory reporting documentation, including integration with Korea's 올바로 (Allbaro) system.

The company's business model is recurring, volume-based service fees charged to business customers for waste handled through the UpBox platform, with revenue derived from the full lifecycle of waste — from on-site discharge through final processing. RECO monetizes an ESG-data layer through UBIS (UpBox Impact Score), an environmental-impact index calculated against Korea Environmental Industry and Technology Institute (KEITI) standards that quantifies resource recovery, water savings, and greenhouse gas reduction for customer ESG reporting. Distribution is direct B2B sales with dedicated account management targeting enterprise facility operators, supported by a website (recokr.com) and Naver blog for mid-funnel engagement and PR coverage for top-of-funnel awareness. The company employs 51-100 staff, is privately held, and operates from a Seoul office and a Chungcheongnam-do headquarters, having raised approximately $64.7M cumulatively across seven funding rounds through a March 2025 Series C led by Ingka Investments with participation from GS Holdings and Korea Development Bank.

Name

RECO

Legal name

RECO (리코)

Website

https://recokr.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

51–100 employees

Short description

RECO (리코) is a South Korean B2B waste and resource management platform, operating the UpBox (업박스) integrated service — GPS-tracked collection, on-site sorting infrastructure, management software, and upcycling — for business facilities generating industrial and commercial waste.

Ownership category

akta.pro rank

Product category

Waste Management Services

NAICS

Waste Collection (56211), Solid Waste Collection (562111), Materials Recovery Facilities (562920), Waste Management and Remediation Services (562)

SIC

Refuse Systems (4953), Sanitary Services (4950)

akta.pro primary industry

Recyclables Transfer & Consolidation (Single/Source-Separated) (BPALABAD)

akta.pro secondary industries

Recycling Transfer & Consolidation (Single-Stream, Dual-Stream, Source-Separated) (EUAIABAC), Recycling & E-Waste Collection/Hauling (HSAKALAJ)

Keywords

• Waste management services
• Resource circulation
• Waste collection transport
• Industrial waste handling
• ESG waste solutions

Headquarters

HQ city

Yeoksamdong

HQ country

South Korea

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Supply Chain, Marketing or Sales, Infrastructure

Revenue model

1. Waste Management Services: RECO provides comprehensive waste management solutions to business facilities, including waste discharge environment improvement, collection and transportation, management task automation, and resource circulation services. Revenue is generated through service fees based on waste volume measured and managed through their platform.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

RECO delivers an integrated B2B waste management platform, UpBox, that manages the full lifecycle of waste from business facility emission through collection, transport, processing, and resource upcycling. Services include on-site emission environment improvement, GPS-tracked dedicated-vehicle collection and transport, dedicated web/app software for automating administrative tasks (discharge monitoring, real-time billing, reporting), and resource circulation campaigns that upcycle waste into new materials.

Product overview

RECO operates a single unified waste management platform called UpBox (업박스), which consists of four integrated service modules: (1) Waste Emission Environment Improvement, (2) Waste Collection and Transport with GPS tracking, (3) Management Work Automation via dedicated web/app software, and (4) Resource Circulation/upcycling services. The platform also includes UpBox Impact Score (UBIS) as an add-on feature for environmental impact tracking.

Differentiator

Problem solved

Functional benefit

Brands

• UBIS (UpBox Impact Score): UpBox Impact Score is an index that evaluates environmental impact during the integrated waste resource management process at RECO. The eco-friendly value created through the UpBox resource process is calculated based on Korea Environmental Industry and Technology Institute (KEITI) standards.

Products and services

• UpBox (업박스) Integrated waste management platform for business facilities that manages the full lifecycle from waste emission at the site through collection, transport, and final processing, combining dedicated physical infrastructure with proprietary web/app software and resource upcycling services.

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• InnoVus (이노버스)coreStrategic or Co-development Partner · 30 May 2024RECO and InnoVus signed an MOU for improving the efficiency of collecting and transporting high-quality PET raw materials. This partnership focuses on optimizing the PET material collection process to support resource circulation efforts.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Rubicon Technologies: US-based waste and recycling technology platform offering software, hardware (cameras/sensors), and routing optimization to commercial haulers and enterprises — directly analogous to RECO's UpBox platform in combining software with physical waste logistics for B2B customers.
• Sensoneo: Slovak waste management technology company providing smart sensors, route optimization, and enterprise waste-management software — comparable to RECO in using IoT/GPS and software to digitize commercial waste collection.
• Evreka: Turkey-based waste management platform offering smart bins, route optimization, and ESG/compliance reporting for municipalities and enterprises — comparable to RECO's UpBox in delivering an integrated software-plus-hardware stack for regulated waste streams.

Broad incumbents

• Waste Management, Inc. Largest North American waste services provider with collection, transfer, recycling, and disposal plus a growing digital/ESG reporting layer — competes broadly with RECO's enterprise waste collection and recycling services, though at vastly larger scale and without a comparable integrated B2B SaaS overlay.
• Republic Services: Major US solid waste and recycling hauler with enterprise recycling, organics, and sustainability reporting services — overlaps with RECO on commercial collection and ESG-focused service offerings but operates at incumbent scale without RECO's dedicated GPS/software stack.
• Clean Harbors: North American provider of environmental and waste services including industrial waste, recycling, and compliance support — comparable to RECO's enterprise waste management and resource circulation offering, though focused on hazardous/industrial streams.
• Stericycle: US-based regulated waste and compliance services company serving healthcare and enterprise customers — comparable to RECO's compliance-oriented waste service model for enterprises, though focused on regulated medical/waste streams.

Emerging players

• Bigbelly: US smart-waste company providing sensor-equipped bins and cloud software for waste collection and recycling — comparable to RECO's GPS/container/instrumentation approach for commercial facilities, but at the bin rather than truck level.
• Compology: US waste-tech startup offering camera-based container monitoring and routing software to commercial haulers — comparable to RECO's AI volume measurement feature and waste-management software, though targeted at haulers rather than waste generators.

Regional players

• Koentec: Korean waste management and recycling services provider serving enterprise and municipal customers in South Korea — a domestic peer with overlapping B2B collection and recycling offerings though without RECO's integrated software/AI platform layer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds7 records

Investors12 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about RECO