The digital waste management startup from Helsingborg called Bintel announced they have raised funding, their first round with institutional investors. The round is a total of € 750.000, from Almi Invest and from private investors Erik Urnes and Philip Abdon.
“We are very pleased to have received Almi Invest as a new investor. With their capital and expertise in the back, we can now take the next step in our development”, says Bintel’s CEO Tom Johansen.
Bintel develops sensor-based systems and cloud services for on-demand waste management services. The garbage bins are connected with sensors that detect when it is time to empty the bins. In this way the emptying takes place when needed and not according to scheduled fixed times. This results in both economic and environmental benefits, as fewer discharges require fewer trucks.
The company focuses on the customers living in detached houses. The customers can, with Bintel’s smart controls on the garbage bin, themselves indicate when it is time to empty the bin. The information is then sent to Bintel’s server, which can plan which bins need to be emptied. The test project, that was carried out together with the City of Helsingborg, shows that there will be fewer emptying processes and more satisfied customers.
“Bintel is quite right in time with its system, which fits the connected smart cities of the future”, says Ann-Sofie Hörlin, investment manager at Almi Invest, “It is an excellent way to help companies and municipalities reduce their environmental impact. The company is early on with a completely new technology in a global technology shift and we believe that they have good opportunities to succeed.”
Bintel has a number of customers in the Swedish market and the successful test project with Helsingborg’s city has attracted great interest throughout the Nordic region. The company now focuses on reaching municipal cleaning companies as first customers. Bintel plans on spending the newly-acquired money on marketing and sales, with the initial focus on the Nordic region.