Enevo wants to optimize waste management, disrupting the $1 trillion industry

GARBAGE IS SEXY: It’s A $1 Trillion Market That Finnish Startup Enevo Wants To Disrupt

A Finnish startup called Enevo wants to optimize waste management and collection by determining when waste containers in public areas need to be emptied.

Enevo focuses on trash collection in public areas because that’s where the most waste is generated, Enevo co-founder Fredrik Kekalainen says. It’s also a $1 trillion industry.


Enevo Grabs € 2 Million From Lifeline Ventures And Finnish Industry Investment To Improve Waste Management

Garbage might not be the first choice for an industry that young entrepreneurs dream about. However, when you think about the fact that waste management is a $1 Trillion global industry, of which 30-50% is purely logistics it then certainly becomes a much more attractive area to try and disrupt.

Today, Helsinki based, Enevo announced a €2 million investment from Lifeline Ventures and Finnish Industry Investment to do just that. Their idea is fairly simple and has been tested in the local market. The investment will be used to fuel worldwide expansion and deliveries.


Garbage in, data out: Enevo gets funding for its smart waste services

Article Continues Below

Enevo isn’t the only company working on smarter waste management, but rivals (such as BigBelly) are largely trying to sell more intelligent bins. Enevo, on the other hand, is a services firm that provides sensor units to waste management companies for free. The unit (pictured in the hands of CEO Fredrik Kekäläinen) measures variables such as volume and temperature within the bin, then sends the data back to Enevo via GPRS. The company then uses that data to dynamically optimize collection intervals and routes for its customers.

The intended result? Fewer overflowing bins and fewer pointless journeys to empty bins that are barely full. In the trillion-dollar industry that is waste management (according to Lifeline), that adds up to a pretty big deal. According to Kekäläinen, Enevo’s existing 10-or-so customers are already saving 30 percent on direct waste logistics costs.


GARBAGE IS SEXY: It’s A $1 Trillion Market That Finnish Startup Enevo Wants To Disrupt

Trash management companies typically operate with static routes and end up collecting half-empty, and sometimes completely empty, containers. That adds up to a bunch of unnecessary costs, like gas consumption and time spent.

In the future, Enevo envisions its sensors used in things like sludge tanks, and diesel tanks for farms and construction sites.

In April, Enevo raised $2.6 million from Finnish Industry Investment and Lifeline Ventures. Enevo plans to use that money to fuel its worldwide expansion.



Follow IWB on Facebook and Twitter