Wasteless News
20 articles
growth-positive
Dutch retail chain buys Israeli software linking food prices to expiration dates
Wasteless, an Israeli company that uses Machine Learning to reduce food waste in the retail sector, has announced its entry into a large Dutch supermarket chain. Wasteless has developed a dynamic pricing mechanism based on expiration dates and sales pace. The algorithm gradually lowers the price of a product as the expiry date approaches, aiming to maximize earnings for the retailer while remaining attractive to customers. Wasteless has already been implemented in stores in Germany and Slovakia. The companys algorithm has led to a 50% to 90% reduction in discarded food for retailers in Europe. Wasteless is now partnering with the Dutch Hoogvliet chain and two other retailers in the Netherlands to implement its technology. The company aims to address the significant food waste issue in the developed world, which dumps around a third of the food it produces.
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growth-positive
La app israelí que hará que los precios en el supermercado cambien según la fecha de vencimiento
Israeli company Wasteless Ltd. has developed an application that allows retailers to dynamically manage prices based on the expiration dates of products. The app aims to reduce waste and increase profits by offering customers discounts based on the remaining shelf life of a product. Wasteless promises a reduction in merchandise waste of 20% to 33% and at least a 6% increase in profits. The system can be adapted to any type of store, whether online or physical, and can be managed by employees using a smartphone. Wasteless has already implemented its system successfully in a major Spanish retail chain.
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On Food Waste: Smart Discounts on a Deadline
Waste less, sell more - how one startup is using AI to transform food retail
growth-positive
Wasteless Grabs $2 Million, Dynamic Food Pricing Algorithm Combats Food Waste
Israeli startup Wasteless has raised $2 million in a Series A funding round led by Slingshot Ventures. Wasteless fights food waste by using a dynamic pricing algorithm to adjust prices of products in real time based on variables such as expiration date and popularity. The companys technology allows grocery stores to optimize sales and reduce food waste. Wasteless has piloted its technology at one location in Madrid and plans to establish a headquarters in New York with the new funding.
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growth-positive
CC4Skype presenteert nieuwe contact center functionaliteiten en connectiviteit met Microsoft CloudPBX™ - Emerce
CC4Skype announces the release of its new omnichannel solution, aimed at improving customer service. The new version offers users new and improved functionalities, including connectivity with Microsoft Office 365, operator attendant functionalities, wrap-up code management, call recording and reporting, and queue voicemail. CC4Skype is present at CeBIT to showcase the new features. The company specializes in customer care software for Skype for Business and has developed its solution to be integrated with Microsoft Skype for Business. The new release also allows connectivity with Microsoft CloudPBX. CC4Skypes customer contact functionalities are now available for contact center agents worldwide.
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growth-positive
FoodBytes! NYC Winning Food Tech Startups Tackle Food Waste and Milk Quality
FoodBytes! NYC showcased innovative food and agriculture startups focused on reducing food waste and improving milk quality. SomaDetect, Winnow, and Wasteless were the top award winners. SomaDetect, a deep learning AI dairy company, won the Judges Choice Award for their technology that provides real-time analysis of milk quality. Winnow, a developer of real-time data monitoring technology for commercial kitchens, won the Peoples Choice Award. Wasteless, a dynamic pricing system for supermarkets based on expiration dates, received the Highly Commended Award. The event was organized by FoodBytes! by Rabobank, a global platform connecting corporates, investors, and startups in the food and agriculture industry.
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Reuters Breaking International News & Views
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growth-positive
A Milano nasce il primo FoodTech Accelerator globale; scelte sette start up
The first FoodTech Accelerator has been launched in Milan, with the aim of making the city a global hub for food and retail innovation. The accelerator, coordinated by Deloittes innovative startup Officine Innovazione, has selected its first seven international startups from over 300 applicants. The selected startups, from Italy, Israel and the US, will undergo a 15-week acceleration program, culminating in a DemoDay at the fifth edition of Seeds&Chips - The Global Food Innovation Summit in May 2019. The startups will receive an initial equity investment of €150,000, with the projects partners already confirming their intention to make further investments of up to €1 million at the end of the acceleration program.
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growth-positive
Wasteless Raises $2m Series A for In-Store Retail Tech Reducing Food Waste - AFN
Israeli food waste reduction start-up Wasteless has raised $2m in a series A funding round led by Slingshot Ventures. The company, which was founded in 2016, has developed a dynamic pricing algorithm for products with a limited expiration date, allowing retailers to create and display discount prices across the demand curve. The new funding will be used to expand the companys team, further develop its pricing algorithm and manage its rollouts with additional food retailers. The company also has a new VP of sales and a team in the Netherlands that is focusing on its European sales market.
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These electronic price tags lower the cost of groceries as they get older
BBC Radio 4: Wasteless wins Positive Idea 2020
growth-positive
Grocery stores in Poland will trial an AI pricing system for reducing food waste Engadget
Wasteless, a startup, has developed an AI-powered system to reduce food waste in grocery stores by automatically reducing the price of perishable food items as they approach their best before date. Wasteless is about to trial its software with Metro, a company that operates wholesale grocery stores globally. The system is expected to initially roll out in Metros Makro stores in Poland before expanding to other markets. Wasteless claims its technology can reduce food waste by at least 40 percent and aims to increase that number to 80 percent in the future. Alphabets Project Delta is also working on addressing food waste with a prototype computer vision system for commercial kitchens.
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Distrifood
growth-positive
Cutting food waste with dynamic supermarket pricing
Israeli tech entrepreneur Oded Omers startup, Wasteless, aims to reduce food waste by using state-of-the-art artificial intelligence and dynamic pricing. Wasteless software updates electronic shelf labels (ESLs) so that the price changes based on a products expiration date, encouraging customers to purchase products before they expire. Tests with a retailer in Spain resulted in a 32.75% decrease in waste and a boost in revenue of 6.3%. Wasteless has raised $7 million in funding and has signed customers including the METRO chain in Europe. The company is working with NX-Food and EIT Food to bring its platform to retailers across Europe.
Customers
growth-positive
Wasteless deploys its pricing solution at METRO to help with food reduction
Wasteless, an Israeli AI-based pricing engine for supermarkets, has partnered with NX-Food to reduce waste in supermarkets. The companys technology automatically adjusts the prices of perishable items based on their expiration dates, helping consumers make greener choices and reducing food waste. The partnership will initially focus on makro stores in Poland, with plans to expand across METROs wholesale stores. Wasteless claims it can reduce food waste by 40% and aims to reach 80% waste reduction as its AI engine continues to learn. The company has raised $7 million in funding from investors including Slingshot Ventures and SOSV.
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growth-positive
Food expiration dates are about to undergo a revolution
Israeli startup Wasteless has developed an AI system that uses variable pricing based on food expiration dates to reduce food waste in supermarkets. The technology employs reinforcement learning to map inventory stock and time of day into optimal prices. Wasteless recently completed a $2 million Series A funding round led by Slingshot Ventures and plans to expand its team and develop its pricing algorithm. A pilot project with a Spanish retailer showed that the technology reduced food waste by one-third and increased revenue by 6.3 percent. Wasteless aims to inspire others in the food chain to reduce their carbon footprint and address inefficiencies in the food chain.
CustomersInvestment
growth-positive
Israeli dynamic pricing co Wasteless raises $2m
Israeli dynamic pricing startup Wasteless has closed a $2 million financing round led by Dutch venture capital fund Slingshot Ventures. Wasteless has developed dynamic pricing technology that automatically cuts the price of products on the shelf when their expiry date is approaching. The company recently completed a pilot project at a supermarket chain in Spain, which increased the chains revenue by 6.3% and reduced the amount of trash produced by a third. Wasteless is now about to begin a project for installing its system at 900 branches of the Island UK supermarket chain. Wasteless is attracting interest in Europe and plans to submit applications for global grants amounting to tens of millions of dollars.
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growth-positive
Internet of Groceries Startup Wasteless Raises $400k in Seed Funding - FinSMEs
Wasteless, an Internet of Groceries startup based in Tel Aviv, has raised $400k in seed funding. The funding will be used to complete the platform and create prototypes for field trials. Wasteless offers a machine learning powered tracking solution for grocery stores, allowing them to offer dynamic pricing based on product expiration date. The solution combines RFID sensing, a dynamic pricing engine, and Electronic Shelf Labeling. Wasteless is currently in trial with several retailers and has offices in New York.
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