Enevo Grabs € 2 Million From Lifeline Ventures And Finnish Industry Investment To Improve Waste Management

    Garbage might not be the first choice for an industry that young entrepreneurs dream about. However, when you think about the fact that waste management is a $1 Trillion global industry, of which 30-50% is purely logistics it then certainly becomes a much more attractive area to try and disrupt.

    Today, Helsinki based, Enevo announced a €2 million investment from Lifeline Ventures and Finnish Industry Investment to do just that. Their idea is fairly simple and has been tested in the local market. The investment will be used to fuel worldwide expansion and deliveries.

    The company basically installs wireless sensors into garbage containers, which monitor the fill levels in real time. This data is then gathered and analyzed in order to optimize collection schedules. Enevo claims 30% direct cost savings and an improved quality of service. Think of it as a just in time service for garbage disposal.

    Sticking to the startup roots, the company provides “a pay-as-you-go model and does not require an upfront investment from customers. Sensor data can be easily integrated into existing fleet management systems to provide a fully-automated and optimal waste collection scheduling and routing solution”, comments Fredrik Kekäläinen, Chief Executive Officer and Co-founder of Enevo Ltd.

    Perhaps one could treat this story as food for thought when trying to come up with the next business idea. Too many startups go after what is popular and trendy as opposed to less “lucrative” industries. However at a closer glance, you can find a lot of hidden gems and opportunities simply where others do not care to look.

    Startups have the disruptive power to come up with creative and often crazy ideas, however too often these are directed at problems that do not really need solving. Can you think of often neglected industries and problems that they might have that the startup community can solve? Let us know in the comments.

    Top Image Courtesy of Charles Harker / Shutterstock.com