Wasteless completed a $2M funding round to support growth. Led by Ben Biron (founder & CMO) and Oded Omer (CEO), the Amsterdam- and Tel Aviv-based company provides dynamic pricing software for grocery retailers. Its system uses inventory, orders and sales data to execute differentiated pricing based on expiration dates and delivers prices via Electronic Shelf Labels or online at checkout. The company plans to use the funds to expand its team, further develop its proprietary dynamic pricing algorithm and manage rollouts with food retailers. Wasteless implemented its solution at a leading Spanish food retailer earlier in the year and is currently in talks with several leading food retailers worldwide to introduce the system to their stores. Wasteless is developing a machine learning-powered tracking solution that enables grocery stores to offer dynamic pricing based on product expiration dates. The system combines item-level RFID sensing, a dynamic pricing engine, and Electronic Shelf Labeling to let consumers choose price based on expiration. It continuously monitors stock levels, alerts stores when items are nearly out of stock, and can automatically reduce prices for items that have been on the shelf too long. The company raised $400k in seed funding and intends to use the proceeds to complete the platform and create prototypes for field trials. Wasteless participated in the Food-X accelerator by SOSV and is currently in trial with several retailers. The company is led by Ben Biron and has offices in Tel Aviv and New York.

Total raised

$2M

Funding rounds

2

Latest round

Series A

Latest activity

Oct 2018