Austrian Gateway Ventures joins €2.3M round for Positive Carbon
Positive Carbon, an Irish startup that supplies commercial kitchens, has secured fresh funding of €2.3 million led by the EIIS Fund managed by Dublin-based Business Venture Partners. The round also saw the participation of HEARTFELT, Gateway Ventures, and Enterprise Ireland.
- The company develops fully automated food-waste monitoring sensors. The sensors provide complete visibility into food waste, enabling businesses to make data-driven decisions that help to reduce a significant amount of waste and save costs. Positive Carbon also provides reporting dashboards where kitchen staff, operation teams, and management can review daily, weekly, and monthly waste reports.
- Positive Carbon claims the deployment of its system has led to a 50% reduction in food waste, amounting to over 4,000 tonnes of potential waste diverted from landfills.
- Irish BVP Investments led this round. Since 2007, BVP has raised and managed 16 BES and EIIS scheme investment funds. Berlin-based HEARTFELT, Gateway Ventures from Vienna, and Dublin-based Enterprise Ireland also participated in the investment. In addition, last year, Positive Carbon raised €277,000 from Gateway Ventures.
- Positive Carbon said it will use the fresh funds raised for research and development and scale operations across the UK and the EU.