What has sparked the foundation of the company?
Before founding Greyparrot, the co-founders had built some of the most cutting edge deep-learning computer vision systems in the world at a company called Blippar, which raised $150M in funding to date. In 2019, they decided that they wanted to make a difference with AI-technology and use it for an environmental cause with high impact. Greyparrot was therefore founded with a mission to increase transparency and automation for better and more efficient recycling and to contribute to our transition to a circular economy.
Which customer problem is solved by your products?
Greyparrot is committed to tackle the mounting waste crisis by unlocking the financial value of waste to support our transition to a circular economy, where waste is recycled and reused in the most effective way. The company is digitising and automating an industry which is heavily relying on manual processes. This makes it impossible for waste managers to take informed actions to manage and optimise operational processes and for producers to track their products once they become waste. This is why Greyparrot is using AI-based computer vision systems deployed globally on moving conveyor belts in sorting facilities to automate waste composition analysis and monitor, audit, and sort large waste flows at scale. Our solution provides waste analytics and increases recovery rates, reduce the cost of manual sampling, enhance product quality, and inform on the waste being generated end-to-end.
What characterizes the company’s uniqueness?
Greyparrot is digitising a sector that is working in the dark by providing composition data that was previously unavailable. The company moves from a world where 1% of waste is sampled inaccurately to 24/7 monitoring of 100% of waste flows and provide live data down to granular composition information at product, material, and brand level, with >95% accuracy.