London-based Greyparrot, which automates the measurement of waste streams using AI-powered computer vision software, announced that it has secured £1.825 million (~$2.2M) in its latest round of seed funding.
The startup was founded in 2019 with a vision to “create a world where waste is treated as a resource [and] monitored, captured and reused in the most effective way.” It has trained a series of machine learning models to recognize different types of waste, including glass, paper, cardboard, newspapers, cans and different types of plastics, “in order to make sorting recycling more efficient, applying digitization and automation to the waste management industry.”
And, by embedding their software into industrial recycling processes, Greyparrot says it can offer “real-time analysis on all waste flows, thereby increasing efficiency while enabling a facility to provide quality guarantee to buyers, mitigating against risk.”
“We see increasing demand from consumers, brands, governments and waste managers for better insights to transition to a more circular economy. There is an urgent opportunity to optimize waste management…using deep learning,” noted Mikela Druckman, co-founder & CEO of Greyparrot.