We here at Onsite Waste Technologies are overjoyed to have exceeded in our efforts to raise capital to expand our revolutionary technology around the country.
The funding was led by Mark IV Capital and UCI Applied Innovation’s Cove Fund II, as well as syndicated with individual investors. The proceeds from this oversubscribed seed round will be used to build the team necessary to accelerate our inventory and distribution.
Mark IV Capitalis an asset management firm that is focused on commercial real estate, venture capital, and private equities. They are based in Newport Beach, California and have been making investments for 45 years.
Cove Fund II, LLC is a seed stage venture capital fund that actively invests in early stage technology and life science companies that demonstrate the potential to address large markets with highly differentiated products and services. Cove Fund I began investing in 2015 and currently has 16 companies in its portfolio. Cove Fund II launched in 2018 with $14.2M in capital.
The tremendous funding result will allow us to increase our inventory and distribution over the coming months, accelerating sales and employee growth.
Our TE-5000 is a desktop-sized processing unit that converts regulated medical waste – sharps and red bag waste – into sterile garbage, safe for the medical practice’s regular trash.
We are pioneering a novel way for medical and dental practices, and other small quantity generators (SQG) of medical waste, to dispose of their medical waste conveniently in their location’s regular trash.
The TE-5000 reduces the liability associated with the traditional method of hauling waste to a central location by reducing or eliminating the time waste sits in a practice.
Our product reduces cost for those practices encountering invoice variances and overcharges. As well, TE-5000 reduces a practice’s carbon footprint as less third party haulers are required to take away waste.
Our core mission is to reduce the cost, risk, and environmental impact of medical waste processing and disposal.
Click here to see our official press release on our funding announcement.
For more information about on-premise waste disposal solutions, see below.