Limetrack secures £1.3m in debt and equity to expand smart bin manufacturing
The company raised capital from Innovate UK and private backers to scale production and meet growing demand.
Limetrack develops patented IoT-enabled smart bins and cloud analytics software that automatically weigh and report commercial food waste and carbon emissions. The company provides compliance ready data solutions to help organisations cut costs and meet regulatory requirements.
Limetrack has raised £1.3m in a combined debt and equity funding round to scale its manufacturing operations across the UK and Europe. The capital comprises a £1m loan from Innovate UK alongside £320k in equity contributed by waste industry corporates, angel investors and an impact venture capital fund.
The company will direct the proceeds toward increasing its production output and fulfilling a growing order pipeline ahead of upcoming regulatory changes. The funding follows the implementation of new UK recycling legislation and will support platform enhancements and team expansion.
Founded in 2021, Limetrack provides automated food waste tracking hardware and software to commercial clients, including NHS trusts and multinational hospitality brands. The latest investment aims to boost manufacturing capacity significantly over the coming year.
From the founder
"We are delighted to have secured the funding to scale Limetrack up to meet the needs of UK organisations facing multiple pressures to reduce cost and measure food waste. A big thank you to all our investors. Their backing will allow us to move much faster – manufacturing at scale, deepening integration and delivering the frictionless, trustworthy data our rapidly growing customer base requires. We aim to make food waste measurement effortless so that businesses can report with confidence, while cutting costs and carbon emissions. With 10.7 million tonnes of food wasted each year in the UK there is a huge opportunity, and the recent introduction of Simpler Recycling legislation means there is a legal necessity for most businesses, as well as an economic incentive. DEFRA projects 2.2 million UK sites will be affected in 2025, growing to 6.2 million by 2027. It’s been a brilliant journey so far, but we’re only just getting started. Of the 1.7 million UK and 10.3 million European commercial sites suitable for Limetrack’s SMART Bins, fewer than 40% currently use any form of food waste bin, providing a significant further market. Our immediate focus is on scaling across the UK before expanding into Europe in 2027."
Andy King
Co-founder and CEO at Limetrack
Use of funds
- 01Grow the team
- 02Continue product development
- 03Fund research and development
- 04Expand into international markets
