Spare-it, the leader in in-building waste metering, announced the closing of a US$4 million equity financing round led by Crédit Mutuel Equity, with continued support from Etablissements Peugeot Frères and Robin Capital. The funding will accelerate the development of Spare-it’s AI-powered platform and support its global expansion as organizations increasingly seek data-driven solutions to address the growing solid waste crisis.
With global solid waste projected to increase by 80% by 2050, reaching 3.78 billion tons annually, the imperative for accurate, scalable waste data has never been more critical. Spare-it addresses this challenge with the first and only real-time waste metering platform designed for commercial and institutional buildings. Utilizing a network of WiFi-free smart scales and photo-based data collection, Spare-it empowers organizations to identify contamination, reduce waste, and achieve significant resource and cost savings.
“The Spare-it team has developed an innovative platform that leverages AI to bridge the waste data gap for leading organizations,” said Ludovic Andre, Managing Director Canada, Crédit Mutuel. “Their ability to deliver granular insights at scale is transformative, and their flexible technology enables seamless deployment and growth, making Spare-it a compelling investment with significant impact potential.” Spare-it.com website
In conjunction with the financing, Spare-it expanded its board with three seasoned leaders: Ludovic Andre who brings deep expertise in strategic investment and M&A; Eric Gelle, SVP of Sales SaaS, who is known for driving SaaS growth and scaling high-performing sales teams; and Cynthia Curtis, a recognized voice in corporate sustainability, formerly with JLL.
“This investment underscores the growing recognition that authentic, actionable waste data is essential for businesses to drive meaningful change,” said Laurent Canneva, CEO of Spare-it. “We’re proud to see industry leaders across technology, consulting, finance, and real estate scale with Spare-it – expanding from single buildings to entire campuses and global portfolios.”
With this latest funding, Spare-it plans to accelerate the introduction of AI-powered predictive models, benchmarking tools, and personalized waste reduction strategies using aggregated data across its network. The company will also enhance its API integration, providing clients with greater flexibility to connect waste data to ESG reporting systems and building management platforms.
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