Greyparrot secures £10.2m Series B funding from Bollegraaf to advance waste intelligence.
Bollegraaf backed the round with a strategic cash investment and intellectual property transfer.
£10.2MSeed
Greyparrot provides artificial intelligence waste analytics to monitor and classify waste streams in recycling plants.
Greyparrot has secured £10.2m in Series B funding from Bollegraaf. The transaction includes Bollegraaf making a cash investment and transferring its AI vision business and intellectual property to Greyparrot. The capital will support the integration of AI capabilities into recycling facilities globally.
From the founder
"In a world drowning in waste, a large percentage of which is recoverable, the urgency for action has never been greater. It’s time for a revolutionary leap in how we value, capture, and manage our waste. We’re excited to partner with Bollegraaf, and add to our team of experts in artificial intelligence and deep learning, to address this challenge and pave the way for the waste industry’s largest rollout of AI to date. Getting AI waste analytics in the hands of more plant managers, more quickly, will provide the industry the data-driven insights needed to build and operate smart MRFs that unlock new value from recovered materials and decrease the environmental impact of waste. Collaboration with plant builders and other key players is critical to making this happen, and it’s a major reason why Greyparrot is hardware agnostic, making it possible to integrate our platform with all types of systems. Progress in addressing the waste crisis can only happen if we work together and commit to systemic change driven by waste intelligence."
MD
Mikela Druckman
CEO of Greyparrot at Greyparrot
Investor perspective
"With 63 years of industry experience, Bollegraaf continues to be a global leader in fully automated innovative turnkey recycling systems. The future is clear: to further increase recycling rates we need more insight and collaboration across the value chain. We have been looking to implement AI that can power fact-based and automated decision making to provide our clients with a much more accurate overview of their waste composition and ultimately maximise their ROI. We are thrilled to make this strategic investment and partner with Greyparrot to bring waste intelligence to both upcoming recycling infrastructure deployments and existing facilities worldwide. We believe that Bollegraaf’s comprehensive knowledge of automation of recycling MRF operations, premium equipment quality, and unique engineering expertise empowered with Greyparrot AI systems represent the one-of-a kind synergy that is destined for success."
ET
Edmund Tenfelde
CEO of Bollegraaf Recycling Solutions, Bollegraaf
Investors
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About the company
Greyparrot
Greyparrot develops artificial intelligence systems for waste analytics in recycling plants.
£19.0MRaised