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Scottish data analytics startup Topolytics has secured a £1.5m funding boost as it prepares to launch its waste management product and expand the business.
The Edinburgh-based company was founded in 2013 to use data analytics to monitor and reduce the amount of waste produced by organisations. Topolytics provides clients with insights into the handling and impact of their waste.
It is targeting clients such as manufacturers, waste brokers, and government agencies responsible for the regulation of waste.
“Topolytics has a growing global reputation for the insights available through our WasteMap platform. It helps waste producers and recyclers to drive resource and cost efficiencies, to trace the movement of waste and measure their impact, whilst validating performance and improving the quality and reliability of ESG and carbon reporting, said Michael Groves, CEO of Topolytics.
“It is a privilege to be working with some leading players in their sectors, UK and international businesses alike, that see great commercial and environmental benefit from taking a fresh look at waste.”
The funding came in part from a UK Research and Innovation (UKRI) grant, along with backing from seven individual investors based in the UK and the US with experience in scaling data analytics and software as a service (SaaS) businesses.
The company first received support from UKRI in October 2022 when the public body announced the 12 recipients that would share a £13.7m funding pot.