The garbage bin sensor firm Enevo, an exemplar of the efficiency potential of the internet of things, has raised a healthy chunk of money from investors including Earlybird, Lifeline Ventures, Finnish Industry Investment, Draper Associates and Risto Siilasmaa.
The $8 million investment follows $2 million from [company]Finnish Industry Investment[/company] a year and a half ago, along with smaller seed and angel investments — the total now is around $11 million.
As I explained then, [company]Enevo[/company] gives away connected “ONe” sensor units to waste management firms, so they can measure volume, temperature and so on. Enevo then manages the resulting data for them, so they can optimize waste collection routes and intervals.
Just to drill the point home, Enevo-equipped trashcans are even tweeting these days:
Hello, this is container 1001017500004277 in Ilola, Finland. I am 25% full.
— Trashcan Life (@trashcanlife) August 21, 2014
The Finnish company is now also touting its sensors and algorithms as logistical aids for the delivery of heating oil, diesel, pellet fuels and other bulk materials. As CEO Fredrik Kekalainen explained to me via email, “the logistical problem is exactly the same, but in reverse.”
Enevo says it now has thousands of sensors deployed in 25 countries. It will use the fresh funding to expand in its existing North American and European markets, and to enter new markets in the Middle East and Asia.