Enevo Attract $8M Series A Funding From Earlybird And Draper Associates
You’ve heard of the Internet of Things. Well how about the Internet of Shit? Enevo is a startup which has created a ‘sensor-based’ waste collection system to track… yes, you get the idea. It’s today announced $8 million of funding from Earlybird, Lifeline Ventures, Finnish Industry Investment, Draper Associates and Risto Siilasmaa, among others.
Enevo has a service called ONE which optimises waste collection by analysing data from its network of small wireless sensors inside waste containers and recycling sites. The sensor network sends data to Enevo servers to work out if the containers are full or not, and when they should be emptied. And other, messy things.
The means that recycling trucks only pick up recycling bins which are full, not empty, thus saving a lot of time and money.
Fredrik Kekalainen, founder and CEO of Enevo says this changes waste collection logistics from a “static and hugely inefficient way of operating to a completely dynamic and demand-based model.” And there’s a lot of waste in the world ready to be tracked.
It currently has sensors deployed in 25 countries across North America and Europe and is expanding into new markets in the Middle East and Asia.
Enovo’s main competitor is a smaller company from Ireland: SmartBin.