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Sign upThe Solutions Explorer lets you create alerts that match your needs. You can create several alerts and you will receive a notification each time a new Solar Impulse Efficient Solutions is labeled and matches your filters.
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Wasteless
A dynamic pricing engine to reduce food waste in retail
01.
Identification
Wasteless is a turnkey food waste Solution which optimises food price markdowns based on expiry dates. Wasteless is a proprietary dynamic pricing algorithm for products with a limited expiration date, allowing retailers to deploy AI to mark off prices. With Wasteless, supermarkets sell more, waste less and consumers get to choose how much they want to pay for a product based on its expiration date. Wasteless recaptures lost revenue, reduces labour related to shelf management and minimises grocery retail’s food waste carbon footprint. This creates new marketing and revenue opportunities for food retailers. In retail Wasteless’ machine-learning technology is a proven Solution that eradicates food waste, showing a substantial percentage point margin increase on the categories we work on.
Sector
Application
Target client profile
Tags
Label Date
May 12, 2021
By
Wasteless
From
Israel
Maturity stage
Medium and large scale commercialization
Looking For
Network, New clients, Visibility, Funding, Partners, Credibility
02.
The environmental benefits
- •Can prevent at least half of food waste in retail
- •Can create actionable awareness of consumers to prevent food waste at home
03.
The Financial benefits
- •Turns food waste - a financial cost - into a profit
- •Offer lower prices for fresh food to consumers
- •Enable a smarter supply chain, powering fair pricing to producers
04.
Activity Region
- Headquarters
- Activity
05.
Implementation Stories
Wasteless by Wasteless
Implemented by Edeka in Hamburg (Germany) in 2021
Edeka, Germany’s leading supermarket chain, adopted Wasteless’ Solution in 2021 to sell more food that is already on the shelf, but nearing its expiration date. Using the AI engine to find the exact right discount at the exact right time, the self learning system helped the retailer optimize the entire supply chain, while rewarding consumers for their sustainable purchasing decisions. The Solution also recaptures lost revenue, reduces labor related to shelf management, and creates new marketing and revenue opportunities.
Result
Since autumn 2021, food waste was reduced by 40% and margins increased by 11%.
06.
Company Profile
Wasteless
Wasteless reduces Food Retail’s food waste, increasing a grocer’s bottom line optimizing markdowns based on expiry dates
View company profile Solution website
Headquarters
חניון בית האצ''ל/הורדה 2, Tel Aviv-Yafo, Israel
07.
Networking Partner
Plug and Play China
Plug and Play, the world’s earliest and largest technology venture accelerator, focuses on developing a globalized innovative ecosystem. PNP China has invested and incubated over 300 Chinese startups.
View partner profile
Solutions Associated
5
Get in the Ring
Get in the Ring is an innovation marketplace connecting innovators to global opportunities.
View partner profile
Solutions Associated
10
08.
Complementary solutions
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The information set out above, is solely for the purposes of information and the Solar Impulse Foundation does not provide any guarantee as to its authenticity, completeness or accuracy. This information does not constitute investment advice or a recommendation to buy into, transact or to enter into any agreement with any of the parties or persons mentioned above. Potential investors or interested parties are solely responsible for their investment or business decisions and for performing any due diligence required by the circumstances.