Wales-based Internet of Things (IoT) startup, The Smart Container Company, just completed a £1.1M seed round backed by key angel investors and CrowdCube, an equity crowdfunding platform.
The company mission is to improve efficiency and sustainability in the draught beer industry, with first of its kind technology that connects kegs to the internet instantly.
Funds from this round will allow the team to set up the supply chain for mass production of Kegtracker™, their patent-pending IoT device, and expand their sales and marketing efforts in the UK and internationally.
An innovation three years in the making, The Smart Container Company’s solution converges the latest in sensor technology with 5G, data science, and artificial intelligence.
The company has chosen kegs and casks as a starting point, as beer is the 3rd most consumed beverage in the world, and there are more than 125 million kegs in circulation. Also, kegs are the most sustainable option for delivering beer, and helping the industry make better use of these circular economy assets will substantially reduce the need for single-use cans and bottles. Supply chain improvements include optimised inventory management, production planning, distribution, predictive maintenance, auto replenishment, and more.
The Smart Container Company has been pilot testing their technology with BrewDog, the world’s fastest growing beer brand and first carbon negative brewery, on a shared mission to enable a net-zero draught beer industry.
The round was raised in two tranches over the course of 12 months from experienced entrepreneurs and angel investors, such as Simon Murphy, Tony Robinson, Oli Farago and Michael Strange – and with over 2,000 Crowdcube investors.
Founded in 2018 by Eduardo Garcia, a former management consultant, and Tamara Goldstein, a former venture capitalist and startup veteran, advisors include Hector Gorosabel, former CEO of Asahi International, and Gary Bull, former Global Head of Finance for SABMiller Procurement – both industry titans who will support the company’s upward trajectory.
The Smart Container Company is based in Trefforest and is assisted by the Business Wales Accelerated Growth Programme (AGP), which provides targeted support for ambitious growing firms. The programme is part-funded by the
European Regional Development Fund through the Welsh Government. As part of the benefits of AGP, the company has received specialist advice in several areas of business since 2018. The company has also received grant funding and government support from Innovate UK.