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WinGo Deposit

Tech company that helps collect more trash to recycle.

Latvia
Market: Another, Artificial Intelligence
Stage of the project: Idea or something is already done

Date of last change: 17.04.2020
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Idea

We bring AI technologies combined with HW to collect and to recycle as much as single use packaging materials as possible without limitations of size and deformation level of the object. We provide future look on the development of the packaging deposit system and response on the global environmental challenges.

Current Status

POC presented to the public reflects the TRL 4th/5th stage and the following tasks accomplished:

Technologies (Computer Vision, Neural nets) sorts and recognizes 0,5PET bottles, 0,33 cans, coffee cups, 1l tetra packs, 0,1l drinking yogurt. The object can be recognized even squeezed, flattened or damaged. This solution gives more space at home for end-user to collect deposit material and provides innovative approach regarding to packaging waste collection;
Communication with users via 32inch touchscreen monitor introduced and UX interface designed to make the interaction friendly even for kids and older people.
3.Design and all necessary homework done to build TRL7/8 prototype.

4.Ongoing negotiations with potential customers already.

Video of. POC - https://www.facebook.com/ApplyIT.lv/videos/368173394132024/

Market

Customers - Waste Management companies, retail stores, operators(joint venture of retail and beverage producers).

Problem or Opportunity

Beverage packaging deposit systems introduced in the end 20th century/ beginning of 21th century in many countries both in the EU and globally are outdated and require new innovative solutions to meet climate and environmental objectives. European Commission in recent years has adopted challenging requirements for EU Member States to increase gradually the recycled volume of plastics, paper and other types of packaging materials.

Low Impact:
Existing system is built in 90ties, today we live in 2020 70% of all consumers are generation Z and Millenials

Limitations:
Collects only PET, cans and beer bottles Only collects perfect shaped objects
No option to add new types of packaging

Technology:
Reads barcodes; RVM’s are often being cheated
Paper receipt instead of digital for collecting refund for packaging Doesn’t sort and recognize flattened, damaged packaging

Solution (product or service)

We deliver next generation Deposit Vending Machines to collect used packaging using Computer Vision. Solution is built from end-user point of view to collect flattened, damaged packaging, gamification principles taken in mind and transparency.

Nevertheless we are building an ecosystem /movement with local companies to motivate consumers to sort packaging in more effective way. We are tech company, so our "Go to market" strategy will be cooperation with local manufacturing companies. We will deliver all blueprints, parts to build HW locally and after that we will upload the software.

Competitors

Key players in RVM market involve Tomra Systems ASA, Wincor-Nixdorf, Repant ASA, Envipco Holdings N.V and other multinational companies.

Advantages or differentiators

Next generation solution:
x)AI(Computer Vision) sorts objects, regardless of their shape and damages
x)Gamification principles to involve the younger generation in sorting
x)Accepts more kinds of waste, many that represent the habits of our everyday life. Also batteries
x)Digital wallet – why to create more waste? Digital payments
x)Mobile

Already made agreements with local champions like Wolt, Carguru to motivate everyday user to sort and award them with additional prizes.

Finance

How big is the market - According to the recent market study on the RVM, this market is expected to experience one of the fastest growth in the upcoming years. It is estimated that in 2019 the global market is around 310 mUSD, but considering the increasing recycling targets for plastics and widespread development of deposit systems as the most efficient way to collect the beverage packaging, it is expected that the market will grow to 560 mUSD in 2024 making it CAGR 10,5% for the next five years.

Where - EU and Asia. We have LOI with Ministry of Waste from UK to deliver our solution to Indonesia when we will be ready. Also, we are all-ready dealing and working with potential operators here in Latvia. We see that, we will deliver at least 300 units over in Latvia by 2022.

Business model

The RVM companies operate with two business models.
x)The first business model is the sales model, which consists of machines that are being sold to retail stores and other customers, after-that doing warranty service. Quite hard from CAPEX point of view.
x)The second business model is the leasing model, in which the reverse vending machines maintains the ownership of the installed RVM and receives payments based on the numbers of containers handled by the machine. (0,01 EUR/unit In Latvia we are talking about 500m units every year * 7 year contract). OPEX

WinGo Deposit considers in mid-term use of both business models, however at the company’s growth phase to accumulate financial resources the sales model will be predominant.
Minimum term of contract to lease or warranty service is 7 years. Thats the norm in the industry.

The main prospective stakeholders / clients are listed below:

Governments interested in the introduction/transformation of deposit systems (including Latvia as the primary market to introduce DRMs);
Existing or potential operators of national deposit systems (including Scandinavia, the UK and other countries);
Corporate customers (retail, petrol stations, real estate developers, waste management companies, educational and cultural institutions taking care of the sustainability and climate changes)
Cooperation partners (manufacturers of goods under DRM deposit system e.g., packaging providers etc)

We are talking, negotiating with all of them already! Not only in Latvia, also in UK and Poland.

Money will be spent on

To reach TRL 7/8 of whole solution.
Marketing and sales activities.

Offer for investor

200 000EUR for 20% of Equity

Team or Management

Risks

Political - protectionism.

Also competitors will see what we achieved and will make great investments to catch us up.

Incubation/Acceleration programs accomplishment

No

Won the competition and other awards

Winners of Creative Business Cup 2020 in Latvia(link in latvian, sorry) - https://forbes.lv/lv/uznemeji/raksts/latviju-creative-business-cup-parstaves-wingo-deposit
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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video