Enevo, an Espoo, Finland- and Boston, MA-based provider of trash bin sensors, raised $8m in funding.
Backers included Earlybird, Lifeline Ventures, Finnish Industry Investment and Draper Associates and Risto Siilasmaa, among others.
The company intends to use the funds to further develop their service offering and expand its presence in both existing markets in North America and Europe as well as expanding into new markets in the Middle East and Asia.
Led by Fredrik Kekalainen, founder and CEO, Enevo provides the Enevo ONE service that optimizes waste collection by analyzing fill-level and operations data from its network of small wireless sensors in waste containers and recycling sites. The sensor network sends data to Enevo servers for advanced analysis, fill level modeling and predictions for waste management companies and municipalities to optimize their fleet utilization, service costs and fuel consumption.
It has thousands of sensors deployed in already 25 countries.
FinSMEs
28/08/2014