Today, recycling efforts face severe challenges. Due to people's difficulty in clearly understanding what can be recycled and how to recycle it properly, only about 32% of recyclable waste is being handled correctly. While throwing all waste into one bin and having waste management companies process it may seem simpler, the high costs of manual processing make this approach difficult for large-scale recycling.
With the introduction of robotic technology, the recycling industry has seen a glimmer of hope for automation. Whether it's startups like Glacier or multinational corporations like Apple, more and more companies are committed to advancing recycling automation. Most automation efforts involve deploying robots to assist human waste recycling, with these robots being integrated into existing facilities to enhance efficiency.
Amp Robotics, an early entrant in this field, recently announced a transformation to focus on operating entire recycling facilities. This shift in business model has brought the company a new round of funding support totaling $91 million. Founded ten years ago, Amp Robotics has deployed approximately 400 robots across three recycling facilities and plans to expand to more locations.
Amp Robotics' system combines artificial intelligence with cameras to monitor the flow of waste and automatically identify recyclable items. Robotic arms pick up waste from the conveyor belts and sort it accordingly. Depending on the needs of different facilities, the company can flexibly adjust the number of robots to accommodate various scales of recycling tasks. In addition to deploying robotic hardware, Amp is also responsible for the operation, maintenance, and upgrading of the systems, while waste procurement and handling of non-recyclable items are managed by contracting companies. The company operates on a per-ton waste fee model, transforming recycling services into an "as-a-service" business.
This Series D funding round was led by Congruent Ventures, with participation from several well-known institutions, including Blue Earth Capital, California State Teachers' Retirement System, Liberty Mutual Investments, Wellington Management, Range Ventures, Sequoia Capital, Tao Capital Partners, and XN. According to documents from the U.S. Securities and Exchange Commission (SEC), this round of funding was slightly lower than Amp Robotics' previous Series C funding, which raised $104 million, reflecting the challenges many late-stage startups face in the current funding environment.
