The Series C financing was led by Congruent Ventures and Wellington Management as well as new and existing investors including Blue Earth Capital, Sidewalk Infrastructure Partners (SIP), Tao Capital Partners, XN, Sequoia Capital, GV, Range Ventures, and Valor Equity Partners. This new round of funding follows a $55 million Series B financing led by XN in January 2021.
AMP’s proprietary technology applies computer vision and deep learning to identify and recover plastics, cardboard, paper, cans, cartons, and many other containers and packaging types reclaimed for raw material processing. The company’s AI platform, AMP Neuron, has recognized more than 50 billion objects in real-world conditions, making it the largest known dataset of recyclable materials for machine learning.
“Advancements in robotics and automation are accelerating the transformation of traditional infrastructure, and AMP is seeking to reshape the waste and recycling industries,” said Michael DeLucia, sector lead for Climate Investing, Wellington Management. “By bringing digital intelligence to the recycling industry, AMP can sort waste streams and extract additional value beyond what is otherwise possible.”
AMP will use the latest funding to scale its business operations while continuing its international expansion from the US.
Continue reading… “AMP Robotics in Denver, Colorado, has raised $91m to boost the development of its artificial intelligence (AI) and robotics technologies for the waste and recycling industry.”