To digitise, plan, improve waste collection processes using AI, seed funding raised by Waste Labs

Waste Labs, a Singapore-based AI firm that assists garbage management corporations and cities in developing and operating sustainable waste collection and recycling systems, has received US $500,000 in pre-seed investment.

This round was funded by Entrepreneur First, Fund4SE, a Singapore VC firm, and strategic angels.

Trash Labs, which was founded in May 2020, has created an AI platform that allows producers to boost the supply of items made from recycled materials by digitising, planning, and improving waste-collecting procedures.

To map trash flows and build and run sustainable waste collection systems, waste managers are given data-driven insights and prescriptive advice.

Waste Labs claims to have completed 10 projects with premier waste management businesses, consumer companies, and sustainable manufacturers in Singapore, Hong Kong, Australia, and the United Kingdom since its start. Food, plastics, cardboard, and technological trash were among the items addressed in the programmes.

“We will now be working to grow our product capabilities and build a globally scalable tech platform and drive its commercial adoption across the Asia Pacific and Europe,” said Waste Labs CEO and co-founder Vladimir Chuchkin.

Companies, towns, and regulators are discussing the circular economy, climate change, and environmental, social, and corporate governance (ESG). Consumers are looking for items and companies that correspond with their beliefs as they get more involved in social problems.

The total addressable market (TAM) for waste management is valued at US $4.7 billion globally. It is estimated to be worth $2 billion in Southeast Asia.

“There is a global imperative to move towards environmental sustainability, responsible consumption, and recycling and upcycling practices. This shift is driven by government agencies, industrial companies, consumer brands, and of course, consumers themselves. Waste Labs helps to get closer to this sustainable vision by bridging supply and demand for recyclable materials through the power of data and technology,” said Denis Muratov, managing partner at Fund4SE.