Limetrack, the London-based food waste technology company that helps businesses cut costs, reduce carbon and meet regulatory requirements through its patented ‘SMART Bin', announces it has successfully raised over £1.3 million to fund its next growth phase. The investment will help scale its IoT food waste technology across the UK and Europe.
IoT technology addresses a market worth over £1 billion. Customers include NHS Trusts, Hilton and Holiday Inn Express hotels, and major waste management firms, with trials ongoing with other multinationals including Sky. UK ‘Simpler Recycling’ legislation requires businesses to separate food waste, with 6.2 million business sites set to be mandated by 2027.
Co-founded in 2021 by serial entrepreneur, Andy King, and software engineer Cord Schneider to address a UK food waste market worth £160 million and a European market estimated at £1 billion, Limetrack has developed and patented an Internet-of-Things (IoT)-enabled food waste bin that automatically weighs and reports waste and carbon emissions. This helps businesses to reduce waste, cut costs and meet strict new Simpler Recycling laws which came into force in the UK in March 2025 for businesses with over 10 employees. Smaller businesses will be mandated under the same rules from April 2027.
Limetrack customers already include multiple NHS Trusts, independent schools, office blocks, restaurants, hotels and care homes, as well as all the major UK waste management firms. In addition, multinational corporations including Sky and global hospitality company Convene are introducing Limetrack’s SMART bins across multiple sites. Trials are also in discussion with a large number of other major UK businesses, including Heathrow and a national fast-food chain.
The new funds were raised through a combination of a £1 million loan from Government-sponsored Innovate UK and £320,000 in equity from backers including waste industry corporates, an impact VC fund and angel investors. The funds will be used to scale the production and deployment of Limetrack’s next-generation SMART bins, enabling the business to fulfil existing orders and pre-orders, with a pipeline of over 5,700 units for 2026.
The investment will specifically target the development of a high-volume design, aiming to increase manufacturing from SMART 20 bins a week to 250 SMART bins a week within the next 10 - 12 months. This will require platform enhancements, including advancing Limetrack’s intellectual property portfolio, supporting harmonised UK and EU certification and high-volume production tooling, while funding team expansion across engineering, operations and customer delivery to support rapid rollouts.
