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Smart City waste logistics system provider receives funding 30 June 2015

Bringing direct cost savings up to 50.0% and higher service quality

Enevo, a provider of waste logistics solutions for Smart Cities, has announced a US$15.8 million funding round led by Foxconn, Ginko Ventures and Mistletoe, with Earlybird, Lifeline Ventures, Finnish Industry Investment and private individuals joining as existing investors. Enevo has earlier secured US$10.3 million funding in 2012 and 2013.

Operational efficiencies due to Enevo ONe are transformational to city waste management operations. Robust and care-free sensors, predictive analytics and automatically generated dynamic schedules and routes are how waste collection in cities will be managed in the future.

Enevo's ONe waste logistics operations management solution uses smart fill-level sensors, advanced analytics and a cloud based dynamic scheduling and routing engine to provide the most efficient waste collection operations for entire cities.

The ONe solution is being deployed in 35 countries by 145 customers, bringing direct cost savings up to 50.0%, together with higher service quality as overflowing bins and unnecessary fleet utilisation are eliminated.

Enevo's team has made its global vision a reality with focused execution and smart waste logistics systems already running from the US to Japan. IoT will transform many industries, and Enevo's plug-and-play solution and frictionless business model are truly changing the waste management industry.

With Foxconn as a strategic partner, the Company can make a paradigm shift in its wireless sensor hardware development and to expand solutions to additional verticals globally. Mistletoe opens up a broad network in Japan, one of the Company’s focus markets, as well as globally in the IoT, smart city and telecoms industries.