- Boston-based Enevo, a sensor technology company, has received $12 million in funding to expand its offerings to full management of waste services for new and current restaurant, retail and commercial property customers, according to a press statement.
- Enevo touts its ability to handle "all waste operations" for its customers including managing alerts, comparing dumpster pickups to collection schedules and working with haulers to adjust service levels to needs.
- Prior to this expansion, Enevo focused solely on providing data from dumpster sensors using analytics software.
"Smart waste" technology has grown exponentially in the last five years across waste and recycling as companies like Enevo, Compology, SmartBin and Bigbelly have made significant developments to increase efficiency in collections and services. According to a report from Navigant Research, the market for smart waste tech is expected to grow to $223.6 million in 2025, marking a 16.3% CAGR.
Enevo is making strong efforts to lead the charge in this market, expanding its network across many major U.S. cities including Washington, D.C. Its most recent development to service restaurant and retail customers will surely increase the company's footprint, however Enevo's shift away from city-focused services goes against the trend of its smart waste competitors.
Just this week, Bigbelly announced how it is leveraging its compactors for smart city solutions. And while Enevo and Bigbelly have vastly different offerings, the concept of utilizing sensors and hardware for services outside of waste data management is one that Enevo shouldn't brush off. Yet as Enevo paves its own path in the smart waste landscape, it will be intriguing to watch how the company best utilizes its technology to simplify customer services.