Finland based garbage sensor startup Enevo picked up another $8 million in funding recently. I’ve been following the company’s trajectory because its simple solution exemplifies the ability of IoT to drive operational efficiencies in certain sectors, provided a smart startup can execute and prove to entrenched industries not known for innovation (like waste management) that the solution has a clear ROI.
Enevo’s sensors measure volume and temperature of a garbage can. This is valuable for a waste management company eager to optimize routes and only deploy pickups to where they’re needed. We’re seeing this theme in other sectors like oil and gas where remote assets (oil rigs, natural gas drilling sites) require maintenance but where there’s a limited number of qualified technicians and where optimizing the use of their time is critical.
Sensoring technology should allow these industries to only deploy resources to where they’re needed as well as prevent future problems by knowing exactly when a pump is about to fail (in the case of a sector like oil and gas). Preventative maintenance is a big theme in looking at the value of sensor technology. It’s sometimes a tough sell on the consumer level where consumers aren’t eager to pay for preventative maintenance, but corporations tend to take this data more seriously because any down time has quantifiable costs.
Not surprisingly Enevo believes its cloud based system will have other applications like in industries involved in the delivery of fuels and bulk materials. Trackability of assets is the name of the game and companies that have excellent visualization tools that can help established industries serve their distribution channels in an efficient way that better serves customers and saves money, will find their audience.
Enevo will use its new capital to expand throughout North America and Europe while it eyes Asia/Middle East. Stay tuned.