Smart City Waste Logistics System Provider Enevo Receives $ 15.8 Million Funding led by Foxconn, Ginko Ventures and Mistletoe from Japan

PR61016

ESPOO, Finland, 30 June, 2015 /PRN=KYODO JBN/ --

    - Enevo provides a fully automated waste logistics operations management

solution that creates and forecasts optimal waste collection schedules and

routes that save up to 50% in costs and increases service quality by avoiding

waste bin overflows and excess fleet utilization

   Enevo [ http://www.enevo.com/ ], the leading provider of waste logistics

solutions for Smart Cities, today announced a $ 15.8 million funding round led

by Foxconn, Ginko Ventures and Mistletoe, with Earlybird, Lifeline Ventures,

Finnish Industry Investment and private individuals joining as existing

investors. Enevo has earlier secured $ 10.3 million funding in 2012 and 2013.

   Enevo's ONe waste logistics operations management solution uses smart

fill-level sensors, advanced analytics and a cloud based dynamic scheduling and

routing engine to provide the most efficient waste collection operations for

entire cities. The ONe solution is being deployed in 35 countries by 145

customers, bringing direct cost savings up to 50% together with higher service

quality as overflowing bins and unnecessary fleet utilization are eliminated.

   "Operational efficiencies due to Enevo ONe are transformational to city

waste management operations. Robust and care-free sensors, predictive analytics

and automatically generated dynamic schedules and routes are how waste

collection in cities will be managed in the future," comments Fredrik

Kekalainen, Founder and Chief Executive Officer of Enevo.

   "Enevo's team has made its global vision a reality with focused execution

and smart waste logistics systems already running from the US to Japan. This is

in full alignment with the type of company that Ginko is passionately seeking

to back. IoT will transform many industries, and Enevo's plug-and-play solution

and frictionless business model are truly changing the waste management

industry," said Jean-Francois 'Janne' Baril, Founder and Managing Partner at

Ginko Ventures.

   "With Foxconn as a strategic partner, we can make a paradigm shift in our

wireless sensor hardware development and to expand solution to additional

verticals globally. Mistletoe opens up a broad network in Japan, one of our

focus markets, as well as globally in the IoT, smart city and telecoms

industries," adds Mr.Kekalainen.

   For media enquiries, please contact:

   Lina Hermans

   +358-50-570-1456

   press@enevo.com

   SOURCE: Enevo