Greyparrot has raised $27 million in a Series B funding round led by technology investor Omar Mir. This is a major milestone for Greyparrot's AI, which has detected over one trillion waste objects. This new funding will help Greyparrot scale its technology, helping abate over one million tonnes of waste by 2030.
Greyparrot
Greyparrot secures $27M in Series B funding round
The waste and packaging sectors are facing growing pressure to improve recovery, demonstrate compliance, and provide more reliable information on material flows. Greyparrot's AI camera systems, known as Analysers, can aid with these challenges. The camera systems are installed above sorting belts in recycling facilities, and they identify materials, products, and brands in real time. This provides operators with continuous data on the composition and movement of waste through their facilities. Companies including WM, Circular Services, Veolia, Biffa and FCC use Greyparrot’s technology to improve recovery rates, monitor material quality, and boost profits.
“Waste is one of the planet’s largest untapped resources, and data is the infrastructure that unlocks it. This funding lets us scale rapidly across North America and Europe and grow our AI, data science and product teams,” said Mikela Druckman, Co-Founder and CEO of Greyparrot. “The technology, market demand, urgency and momentum are all here, and we are ready to scale our impact.”
Continuous, shift-by-shift visibility replaces occasional manual sampling, helping operators improve yield, strengthen audits and compliance reporting, and plan for waste-stream changes that occur due to regulation changes. Greyparrot’s data also allows users to understand how packaging performs after disposal. Consumer goods companies including Unilever, L’Oréal and Kenvue use Greyparrot’s Deepnest platform to inform redesign, compliance and exposure to fees under Extended Producer Responsibility (EPR) schemes and the EU Packaging and Packaging Waste Regulation (PPWR).
Less than 0.1% of the world’s estimated 2.3 billion tonnes of annual solid waste is currently audited. Pew and Systemiq estimate that between $80 billion and $120 billion of plastic value is annually lost through linear systems.
“Waste intelligence will do for materials what satellite data did for navigation. For decades, waste has been a blind spot. Nations compete for resources while burying and burning existing resources. What's been missing is the ability to measure what they’re losing. Once you can measure a material, you can trade it and invest in it. That is when the circular economy stops being an ambition and becomes infrastructure,” concluded Ambarish Mitra, Co-Founder of Greyparrot.