Greyparrot - AI waste analytics for the circular economy
by Startacus Admin
London-based startup Greyparrot is on a mission to increase transparency and automation in recycling to unlock the financial value of waste.
The waste management industry is worth $1.6 trillion every year, although people don’t tend to think of it in monetary terms. But, as we have written before, putting things in monetary terms is sometimes the best or only way to get people to actually care about a topic, so perhaps doing so will help increase effort when it comes to reducing waste and its impact on the environment.
We've previously highlighted London-based startup Greyparrot and its innovative AI waste analytics platform for the circular economy, aimed at increasing transparency and automation in recycling to, as they put it, ‘unlock the financial value of waste’. At its core, it is technology that is deployed on conveyor belts within waste facilities and monitors, analyses, and correctly sorts waste at scale. It provides waste managers, regulators, and producers with data and analytics, allowing for every stage of a product’s life to see improvements.
For the facilities’ managers, it lets them see in real-time what they need to change and improve, and allows them to make proactive decisions that will lead to higher product quality and less money lost. The technology allows waste management facilities to have a higher degree of confidence in the recycled material they ship back out, and to receive fewer returns for low quality. Not only does this mean higher profits, but the fact that Greyparrot takes care of the need for spot checking samples - a requirement for recycling facilities - with its continuous monitoring means that the facilities save on manual labour too.
Greyparrot is being trialled at Biffa’s Plastics Recovery Facility in Wigan, as well as being used by other businesses such as Suez and Veolia, and they say that it has already analysed more than 10 billion waste items. In May, the startup announced that they had raised £8.9 million in a Series A round led by Una Terra. This funding comes 2 years on from a £1.8m seed funding round led by Speedinvest, and will go towards R&D to improve their technology and add new types of waste, to grow their team, and to expand globally.
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Published on: 9th June 2022
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