Tech companies in the on-demand service sector are cropping up every day. Just when it seems every possible kind of on-demand service has been covered by companies and services providing apps, a New York based company has proved everyone wrong. Recycle Track System (RTS), a two-year-old company that aims to provide on-demand garbage disposal service through its cross-platform app is ready take the on-demand service industry to another level.
The $45 to $65 billion waste industry has long been dominated by the conventional garbage disposal trucks that do rounds in the neighborhood to pick up the garbage from your residence, and it has largely remained untouched by the tech industry.
The RTS app, which is currently in a beta testing round, will be using mobile tech, data, algorithms, and a distributed workforce to bring trash disposal trucks to your doorstep. The algorithm will function in a manner similar to that of Uber, where users enter their location and the kind of waste they wish to dispose (electronic waste, appliances, food waste, paper waste, plastic waste, etc.), hence the term ‘Uber for Garbage.’
While the concept might seem a bit far-fetched, companies such as WeWork, Whole Foods and SoulCycle have signed multi-year contracts after being enticed by the flexible pricing options of RTS, notifications about the location of the trucks, reports about waste treatment and service efficiency.
Investors too are taking the company seriously. RTS has a very asset-light business model. It is partnering with many local truck companies and independent haulers and providing them with tablets to use, making their work more efficient. RTS has also proven its profitability by raising $11.7 million in a recent Series A round. The company aims to use this funding to boost growth, create more meaningful partnerships, and increase its efficiency.
Megha Shah for TechFunnel.com