Candam develops patented Smart Ring technology that utilizes acoustic techniques and AI algorithms to identify various packaging materials in real-time, enhancing recycling efficiency. Their system addresses low packaging recovery rates by facilitating easy and affordable Return and Earn Schemes, improving waste collection and incentivizing responsible disposal.
Funding
$3.8M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
CIFounders
Product
Problem
Current recycling systems often struggle with low packaging recovery rates due to a lack of efficient and affordable methods for identifying and sorting different packaging materials. Traditional return and earn schemes can be complex and costly to implement, hindering widespread adoption and limiting their impact on waste reduction.
Solution
RecySmart offers a patented smart ring technology that utilizes acoustic techniques and AI algorithms to identify various packaging materials in real-time, enabling easy and affordable Return and Earn Schemes. The system improves waste collection by facilitating the recognition of PET bottles, metal cans, beverage cartons, and glass packaging. The smart ring can be equipped with universal scanning technology to read barcodes, QR codes, and Data Matrix codes, providing a double verification of the packaging material. This technology enhances recycling efficiency by allowing for accurate sorting and incentivizing responsible disposal through reward-based programs.
Target Audience
The primary target audience includes municipalities, waste management companies, and businesses looking to improve recycling rates and implement effective return and earn schemes.
Features
- Patented smart ring technology for real-time packaging material recognition
- Acoustic techniques combined with AI algorithms for accurate identification
- Universal scanning capabilities for reading barcodes, QR codes, and Data Matrix codes
- Compatibility with various recycling schemes, including Reward as you Throw, Pay as you Throw, and Deposit Refund Systems
- IoT device transforms any urban waste bin into a smart one
- Ability to identify both users and deposited waste
- Mobile app for users to track recycling activities and redeem rewards