Skåne-based SaaS startup Bintel’s ambition is to digitize waste management to reduce environmental impact, while also reducing costs and improving service.
The company has now reported to have raised over € 1.8 million (SEK 18.5 million). Among the new investors are Almi Invest GreenTech, Gramtec Co-Invest, I Love Lund and business angels. The existing investors Almi Invest, Philip Abdon and Erik Urnes have chosen to increase their investments.
“It is fantastic that we have managed to get so many competent new owners into this round. The fact that Almi GreenTech also chooses to invest confirms our possibility to minimize CO2 levels and to truly be part of a global sustainable solution,” says Chairman of the Board Erik Urnes.
The startups combines machine learning with the latest sensor and data transfer technology to optimize collection, increase transparency and contribute to business development that leads to less environmental impact. By providing smart data and analysis, the company can help customers in their continuous optimization work. Bintel’s goal is to build the world’s largest IoT network in waste management.
The startup currently has customers in the Nordic region and has the opportunity to connect all types of waste containers and containers, and reports that it is currently experiencing a very large demand for its services.
“In the last six months, we have seen a large increase in the number of sensors sold with associated platform subscriptions. The fact that our sensors can be applied to all types of vessels and that our software portfolio and our apps can be easily integrated into existing IT systems means that we can deliver to all types of customers and in all types of installations. We also see that we can create a high ROI, which makes us an attractive partner and now we have the financial means to act on this even more clearly and increase our growth rate,” says CEO Michael Wictor.
In the past year, Bintel has expanded and started many new installations, which has provided even better data.
“Not least, we see clear signs that we can influence the sorting so that we get less plastic in the residual waste and this ultimately means that less amount of plastic is burned and thus less CO2 is emitted. In this way, we can help our customers achieve sustainability goals and a zero vision of plastic in residual waste,” says Michael Wictor.
The startup started out with the city of Helsingborg as first bigger test-bed, where it is now part of the H22 initiative as well. Bintel is truly a ‘Skåne startup’, combining the innovation openess from Helsingborg with the technological skills within IoT and sensors found in Lund.