Olyns
Olyns combines AI, reverse vending, advertising, and the gig economy for a scalable and profitable solution to recycling plastic. It uses integrated hardware and software enabling a new paradigm for funding and collections of recycled plastic. Olyns' dual-function RVM Cubes, which are positioned at the entrances of popular businesses, give consumers quick beverage container recycling while also providing brands with compelling advertising.
Olyns
Olyns combines AI, reverse vending, advertising, and the gig economy for a scalable and profitable solution to recycling plastic. It uses integrated hardware and software enabling a new paradigm for funding and collections of recycled plastic. Olyns' dual-function RVM Cubes, which are positioned at the entrances of popular businesses, give consumers quick beverage container recycling while also providing brands with compelling advertising.
TL;DR
Product: Olyns Cube — AI-enabled reverse vending machine that also serves as a digital advertising display
Business model: Funds in-store recycling operations through digital out-of-home advertising and rewards
Founding year & location: Founded 2019 in the San Francisco Bay Area
Recent financing: Series A announced May 8, 2023; Closed Loop Partners catalytic loan announced April 16, 2024
Team size (reported): Approximately 16 employees
Company Overview
Problem Domain
Plastic beverage container recycling; funding and scaling of collection infrastructure
Founded
2019
Industry
Recycling technology / Retail media
Funding Track Record
Seed round announced Nov 15, 2021
4000000.00
Series A announced May 8, 2023
Catalytic financing/loan announced to support manufacturing and scaling
Investor Signal
“Vanedge Capital as lead equity investor; Closed Loop Partners provided catalytic financing”