Lixo, a Paris, France-based SAAS developer of analytics tools for the waste management and recycling industries, announced closing a seed funding round at €3.5 million ($4M).
The money was raised locally from France from investors including Demeter Partners, Raise Seed For Good and 50 Partners, joined by angel investor Amaury Bierent (Ovive and Optyma).
Lixo, founded in 2019 by CEO Marjorie Darcet, developed technological solutions for the waste management industry, helping with waste tracing and recovering it. The tools uses computer-vision and sensors in order to sort the waste and analyze its quality composition in real time. The company says it works with french partners, including waste collectors such as Veolia and Brangeon, sorting centers such as Tiru, Sotraval, Kerval, recyclers Norske Skog , Freudenberg, Wellman and cross-functional and national players such as Citeo or Valorplast.
