The investment was led by ESG-focused VC fund Una Terra. Also participating in this round are Closed Loop Partners, Speedinvest, Unreasonable Collective, 360 Capital, Archipelago Eco Investors, Accelerating Growth Fund Ltd and TI Capital.

”Globally, we are in a race to meet ambitious recycling targets and clean up our planet. This investment comes as mounting regulation fuelled by consumer demand continues to put pressure on the waste management industry to transition to circularity. We are deeply passionate about delivering solutions to address the growing waste crisis”, state the founders of Greyparrot in a press release posted on their website.

Over the past two years, using computer vision, the startup has tracked more than ten billion packaging items in waste facilities which allowed them to build highly accurate recognition models across 50+ waste categories including plastics, fibre and metals.

”We will keep expanding our taxonomy to 200+ categories to cover more waste streams including some of the world’s heaviest polluting industries”, said the team.

”We’ve had a global mindset from day one, with customers across Europe and Asia and the pandemic accelerating our ability to ship Greyparrot systems and operate them remotely. Our customers cover 60% of the European waste management market and include industry leaders such as Suez, Biffa, A2A, Digido Ara and Veolia. We will continue to deepen our partnerships with key industry players, expand our presence in Europe and enter the US market. With this, we are on track to divert 30,000 tonnes of waste from landfill by 2023, a stepping stone to our ambitious goal of reducing emissions by 119 MTCO2e per year by 2030”, it is also stated in the press release.