- Sensoneo, a Bratislava-based smart waste management startup, secures €6.2M Series A funding to expand its solution to other regions, including APAC, and strengthen its global position.
- The investment was announced in Taipei, Taiwan, during the visit of the Slovak business delegation.
- The round was led by Taiwania Capital and supported by Czech-Slovak Crowdberry, EIC Fund, and Slovak Venture to Future Fund.
“Taiwania is an internationally recognized investment company with a proven IPO track record and know-how. We are delighted that, thanks to this investment, we will receive growth capital that will help us strengthen our position as the global leader in the smart waste market. Furthermore, it confirms our growth in the APAC region, and it opens new business opportunities in Asia, which is one of the core markets for us. Additionally, we are planning to open a branch in Taiwan this year, enabling us to be near to our customers and bring our smart waste management solutions to Asian countries,” says Martin Basila, the CEO and co-founder of Sensoneo.
Increasing need for intelligent waste management
According to a recent report by Grand View Research, the global waste management market experienced significant growth in 2022. Increased global consciousness about the importance of appropriate waste disposal to safeguard health has led to the development of diverse methods and techniques for waste management.
Founded in 2017, Sensoneo is one of the notable Slovak startups included in our recent article. The startup focuses on three divisions of smart waste collection solutions, including its own sensors, factory optimization of waste collection logistics, and a Deposit Refund System (DRS). The startup developed innovative DRS software that can be adapted to the specific needs of different countries.
Prior to the Series A investment, Sensoneo raised €2.2M in pre-seed and seed funding, allowing the startup to secure a notable position in the waste management market.
Sensoneo’s expansion to global markets
Sensoneo’s intelligent waste solutions currently assist companies and cities in over 80 countries globally, including Buenos Aires, Reykjavik, Trieste, and Prague. The startup is also involved in Europe’s largest smart waste installation, launching in Madrid later this year.
Moreover, the startup is currently the sole DRS integrator in three countries, namely Slovakia, Malta, and the initial phase of DRS in Romania. Additionally, Sensoneo is in the process of implementing DRS in another Central European country and its first Western European country.
“Sensoneo is an excellent example of how a company based in the CEE region can attract international customers and compete globally by consistently prioritizing innovation. As a global leader, Sensoneo holds a unique position that allows the company to effectively target the rapidly growing smart waste management market. We believe that Sensoneo’s technology is setting the standard in smart waste management, and we are excited to be part of the story,” says Mitch Yang, Taiwania Capital CEE Fund’s Managing Partner.
The Taiwan-based lead investor specializes in investing in global technology companies during their Series A funding stage. Since 2022, their government-funded Central and Eastern Europe Fund (CEE Fund) of $200M targets high-growth startups and scale-ups in the CEE region.