Greyparrot, a London-based startup set on managing and reducing waste through AI, has closed an $11 million Series A funding round led by newly launched ESG-focused firm Una Terra. The capital is slated to help the startup focus on increasing its product offer, expand further afield, and continue to grow the size of the team. Since March 2019, Greyparrot has raised a total of $15.9 million.
The AI startup provides waste recognition software to monitor and sort waste at scale, with the goal of increasing recycling rates. According to the company, over the past two years, they've tracked more than ten billion packaging items in waste facilities, allowing for the construction of highly accurate recognition models across some 50+ waste categories.
The firm's customer list accounts for more than 60% of the European waste management market, including industry leaders such as Suez, Biffa, A2A, Digido Ara and Veolia.
Greyparrot's $11 million Series A round was led by Una Terra with Closed Loop Partners, Speedinvest, Unreasonable Collective, 360 Capital, Archipelago Eco Investors, Accelerating Growth Fund Ltd, and TI Capital all participating.