Result description
The issue of food waste is out of hand, with 1/3 of all food produced for human consumption lost or wasted every year, resulting in significant economic, social and environmental costs. In the EU alone, around 88 million tons of food are wasted every year, equivalent to >170 million tons of CO2. The food industry is responsible for 26% of global greenhouse emissions, 6% as a result of food that is never eaten and ends as waste.
With artificial intelligence at its foundation, KITRO offers an automated food waste data collection and analysis solution that can be adopted by food and beverage outlets worldwide. Contrary to existing solutions on the market, KITRO’s customers benefit from a fully automated ‘plug and play’ solution, which is easy to implement and yields higher savings. Canteens, hotel groups and restaurant chains are initially being targeted, as they all face high costs and struggle to stay competitive in the market. Reducing food waste will help them save up to 8% of their food costs, making them more competitive while having data to prove their positive impact on the environment.
Addressing target audiences and expressing needs
- Grants and Subsidies
- Loans
- Venture Capital
We are looking for funding and a distribution partner in France.
- Public or private funding institutions
- Academia/ Universities
- Private Investors
R&D, Technology and Innovation aspects
KITRO started running first pilots with customers early-2017. Since then, the technology and product-market fit has been demonstrated in over 120 properties. On average, customers measure for a period of 12 months (trend increasing) and 89% of all customers have renewed their contracts in the past 12 months.
Currently there are >70 devices active, mostly in Switzerland but also with presence in Germany, Italy, Greece and Australia. The goal is to focus on start expansion this year with an emphasis on Germany and France. For Germany, KITRO has already signed a trial distribution partnership with a global company.
The longest contract signed is for 8 years with EPFL (Swiss tech university) and trials as well as roll outs with other bigger customers such as Hapimag, Nestlé, Marriott Hotels and Four Seasons are on-going.
Depending on their segment, customers were able to achieve an ROI of 200-690% and average reduction in avoidable food waste between 20-60% saving up to 8% of their annual food cost. By working directly with users and testing the solution in live environments, learnings have been significant in the advancements of KITRO.
Up to date, KITRO has raised >€5.5M with grants, prize money and investors. With the milestones to expand into new markets and scale up, the company is currently looking for an addtional €3.5M to be closed in April 2022.
The key to unlock scalability was the right partner and an easy setup for the hardware logistics. With the Swiss company Mettler-Toledo, a leading scale manufacturer, we’ve found this partner who is taking over the logistis and the manufacturing of the scale. The hardware setup is so easy, customers can self install the product allowing for remote installations. Devices can therefore be shipped directly from the partner to customers.
Lastly, new features which will be introduced in 2022 will automate internal processes resulting in a more cost efficient approach when it comes to customer success activities.
While the hardware component is limiting the replicability to a certain degree, good forecasting and the right partners enable a smooth production.
As the actual results are driven by the data analytics and customer success activities, it is easily replicable as internal processes and standards have been put in place.
With innovation at the heart of the startup, the differnet product components are constantly reviewed, tested, updated and improved. With a long backlog of new product offerings and features in the pipeline, KITRO will transform and grow with the customer’s needs ensuring a sustainable value added to all stakeholders over many years to come. The result of this can already be seen in the increasing measurement periods and returning customers (3 months in 2018 vs. +12months in 2022).
- Oceania
- Middle-East
- North America
- Europe
- Asia
Result submitted to Horizon Results Platform by KITRO SA
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