Slovakia-based green tech scale-up Sensoneo announced on Thursday that it has secured €6.2M in a Series A round of funding led by Taiwania Capital.
The round also saw participation from existing investors Crowdberry, EIC Fund, and Venture to Future Fund.
The investment was announced on Thursday June 8, 2023 in Taipei during the Slovak business delegation’s visit to Taiwan.
The company says it will use the funds to expand into other regions and strengthen its position on global markets.
Sensoneo: Provider of waste management solutions
Founded in 2017, Sensoneo is a global provider of innovative waste management solutions.
By leveraging robust software and a data-driven approach, Sensoneo helps cities, businesses, and countries optimise waste collection processes, improve sustainability performance, and create more efficient and cleaner public spaces.
Customers can achieve a 30-63% reduction in waste collection routes and 97% accuracy in actual waste production, claims the company.
Sensoneo’s smart waste management solution has garnered attention from cities and businesses worldwide with installations in over 80 countries across five continents.
The Slovakian company is poised to contribute to the largest smart waste installation in Europe, comprising 11,100 sensors in Madrid.
Martin Basila, CEO and Co-Founder of Sensoneo, says, “Taiwania is an internationally recognised investment company with a proven IPO track record and know-how. We are delighted that, thanks to this investment, we will receive growth capital that will help us strengthen our position as the global leader in the smart waste market.”
“Additionally, we are planning to open a branch in Taiwan this year. This will enable us to be near to our customers and bring our smart waste management solutions to Asian countries,” adds Basila.
Currently, the company earns revenue from three separate divisions:
- Smart waste collection solutions that include the company’s own sensors
- Optimisation of waste collection logistics in factories
- Deposit refund system solution Deposit Refund System (DRS)
Intelligent waste monitoring is used by cities such as Buenos Aires, Reykjavik, Trieste, and Prague.
Sensoneo is also involved in the largest smart waste installation in Europe, which was launched this year in Madrid.