2022 Cohort > Bennu.ai Limited
Bennu.ai Limited
Business Proposition
Most of the waste of companies ends up in the general waste, even though it is recyclable. 50% of trash in the general waste could be recycled, while 25% of trash in the recycling bins is contaminated with unrecyclable waste. This contamination leads to whole bags of mainly recyclable waste being treated as
general waste. General waste cost on average 4-5x more than recyclable waste. Companies spend thousands if not millions on waste management every year, which if treated correctly could easily be reduced by over 40%.
We are developing the smartest bin in the world to increase the recycling rates by over 40%, and estimate that each bin could save companies, such as airports and train stations, over £30,000 over its lifetime (15 years). At the same time, we improve their public image by reducing their carbon footprint.
Our competition is limited in many aspects:
– Bin-e smart bins can only sort trash of which they already know that it is recyclable and only handle one item at a time expecting the user to have patience, which travellers in airports and train stations do not have.
– Cleanrobotics separate only between general waste and dry mixed recycling and also only handle one item at a time.
– Intuitive AI on the other hand uses visual recognition and a screen to identify the trash in the user’s hand to tell them how to separate it. This approach is dependent on the user’s willingness to sort the trash correctly, which cannot be expected.
All the approaches named above only use visual recognition, while we are developing a new sensory system (details can be discussed if needed, but an NDA needs to be signed ahead of time). The advantage is that our approach identifies the material independent of its form leading to higher accuracy. In addition, the mechanics that we develop allows users to throw away their trash without having to wait, and sort it into many different compartments dependent on the customers waste system.
IP: we are aiming to patenting our product in the next six months, which covers claims for the sensor system, the sorting system and potentially the AI model and a waste compression system. In addition, we are filing an application for design rights as well as trademarks.
Investment Ask
£2m-£3m