A data analytics platform based in Edinburgh, Topolytics, has secured £1.5 million in funding from seven individual investors with experience scaling data analytics and software as a service (SaaS) businesses as well as a grant from UK Research and Innovation (UKRI) (also backed by AGS airport).
The Scottish startup will use the funds to launch its WasteMap solution and support its UK and international expansion plans.
“Topolytics has a growing global reputation for the insights available through our WasteMap platform. It helps waste producers and recyclers to drive resource and cost efficiencies, traces the movement of waste, and measures their impact, whilst validating performance and improving the quality and reliability of ESG and carbon reporting. It is a privilege to be working with some leading players in their sectors, UK and international businesses alike, that see great commercial and environmental benefit from taking a fresh look at waste,” said Michael Groves, CEO of Topolytics.
Machine learning approach for a circular economy
Founded by Michael Groves, Topolytics is a data analytics platform that helps organisations drive value from their waste.
The company’s WasteMap platform enables organisations to track their waste and helps them reduce their carbon footprint and generate new revenue streams by building circular economies.
WasteMap uses mapping and machine learning to make waste and resource management more transparent and efficient. Additionally, these insights enable greater materials recovery, support investment strategies, and reduce carbon emissions through WasteChain.
Topolytics claims that WasteMap is becoming the de facto platform for waste producers and the waste sector to process and analyse complex waste ‘supply chain’ data across multiple sites, regions, and countries.
“Topolytics is delighted to secure investment from high-net-worth investors who bring significant depth of experience in globally scaling data analytics and software businesses. It’s a privilege to get the backing of such high calibre individuals from both sides of the Atlantic to support our international growth,” said Jane Stewart, Director of Topolytics.
The post Scottish waste tech startup collects £1.5M for using machine learning to recycle trash in smart cities appeared first on Tech Funding News.
