An Atlanta startup focused on making industrial waste more efficient has raised more than $3 million, according to a filing with the U.S. Securities and Exchange Commission.
WasteWizer Inc. plans to raise about $3.5 million and still has about half a million dollars left in the round. WasteWizer produces industrial scales for waste containers that weigh its contents and send that information into a cloud server. That technology, called the "BinBar System," allows companies to know in real time when the container is full, meaning they can more efficiently schedule when to pick up the containers from places such as construction sites.
WasteWizer lists Atlanta Technology Angels, Dipalo Ventures, Greentown Labs, Venture South Fusen World and Kenzie Lane as investors on its website. The SEC filing says the company has 15 investors.
The company says it has "several paying pilot customers," according to its website. WasteWizer was founded in 2019.
CEO and co-founder Thomas Spencer created the first prototype for the company in a Georgia Tech lab, but testing was moved to co-founder and president Jay Brenner's backyard at the start of the pandemic. The company came out of Georgia Tech’s CREATE-X incubator and is an ATDC Accelerate company.
WasteWizer Chief Technology Officer Patrick Doyle said the product could help reduce operating costs for companies and help companies track their waste and carbon footprint for environmental, social and governance initiatives, according to a blog post on the company website.
Spencer did not respond to request for comment on the funding. Both Spencer and Doyle are Georgia Tech graduates.
