Green tech scale-up Sensoneo, headquartered in Slovakia, revealed the successful completion of a Series A funding round. Led by Taiwania Capital, the funding round secured an impressive €6.2M investment for the company.
The funding round also saw participation from current investors Crowdberry, EIC Fund, and Venture to Future Fund.
Sensoneo plans to utilize the funds to drive expansion into new regions and enhance its presence in global markets, further strengthening its position.
Sensoneo: Revolutionizing Waste Management Solutions
Established in 2017, Sensoneo is a leading global provider of cutting-edge waste management solutions. Through the utilization of robust software and a data-driven approach, Sensoneo empowers cities, businesses, and countries to optimize waste collection processes, enhance sustainability performance, and foster cleaner and more efficient public spaces.
The company boasts impressive claims, stating that its customers can achieve a substantial reduction of 30-63% in waste collection routes and attain an exceptional 97% accuracy in actual waste production.
Sensoneo‘s smart waste management solution has garnered significant attention from municipalities and businesses worldwide, with installations spanning over 80 countries across five continents. Notably, the company is poised to contribute to the largest smart waste installation in Europe, which encompasses an impressive 11,100 sensors in Madrid.
Expressing enthusiasm about the recent investment, Martin Basila, CEO and Co-Founder of Sensoneo, states, “Taiwania is a globally recognized investment company with a proven track record and expertise in IPOs. We are thrilled that this investment will provide us with the growth capital needed to solidify our position as the global leader in the smart waste market.”
Basila further adds, “Moreover, we have plans to establish a branch in Taiwan this year. This strategic move will enable us to be in closer proximity to our customers and bring our innovative smart waste management solutions to Asian countries.”
At present, the company generates revenue through three distinct divisions:
- Smart waste collection solutions featuring the company’s proprietary sensors
- Optimization of waste collection logistics in factories
- Deposit refund system solution (DRS)
Sensoneo’s intelligent waste monitoring technology is implemented in various cities worldwide, including Buenos Aires, Reykjavik, Trieste, and Prague. Additionally, the company is actively engaged in the largest smart waste installation project in Europe, initiated in Madrid this year.
About the Investor
Taiwania Capital, a venture capital firm headquartered in Taiwan, specializes in Series A investments in technology companies worldwide. In 2022, the government-backed $200M Central and Eastern Europe Fund (CEE Fund) began investing in high-growth startups and scale-ups located in the CEE region.
According to Mitch Yang, Managing Partner of CEE Fund, “Sensoneo exemplifies how a company in the CEE region can attract global customers and compete on a global scale through consistent innovation.”
“With its position as a global leader, Sensoneo has the advantage of targeting the fast-growing market of smart waste management. We believe that Sensoneo’s technology sets the benchmark for smart waste management, and we are thrilled to be part of this journey.”