The deal will also see Bollegraaf serve as a worldwide distributor for Greyparrot’s AI camera system hardware. Greyparrot's technology is currently deployed in waste streams and recycling plants across 14 countries. The partnership is expected to help Greyparrot expand its reach in the US market. Greyparrot will continue to sell its AI-powered waste analytics to other Material Recovery Facilities (MRFs) makers, while also benefiting from Bollegraaf’s global scale.
Key takeaways:
- Dutch recycling giant Bollegraaf Group is investing in UK AI startup Greyparrot, which uses computer vision for waste analytics. The partnership aims to accelerate the integration of AI analytics with recycling machinery.
- As part of the deal, Bollegraaf is transferring its AI vision business to Greyparrot, including a team of six people and all related AI models. The total value of the investment is reported to be $12.8M.
- Greyparrot's technology is currently used in waste streams and recycling plants across 14 countries. The partnership with Bollegraaf is expected to help the startup expand its reach, particularly in the US market.
- Greyparrot's AI-powered waste analytics can be used by recycling professionals, plant builders, packaging producers, and FMCG brands to boost recycling efficiency, comply with recycling regulations, and improve recyclable packaging design.