Amp Robotics: Reshaping Recycling with $91 Million Funding
Deal News | Dec 05, 2024 | Prelude Ventures LLC
Amp Robotics Corp., a Louisville-based startup specializing in AI-powered waste sorting systems, has secured $91 million in a Series D funding round primarily led by Congruent Ventures. This influx of funds will allow Amp Robotics to enhance and deploy its innovative recycling technologies, including the Amp One system, across waste facilities in the United States. This system, which was launched in Portsmouth, Virginia, increases the capability of sorting municipal trash by efficiently diverting landfill-bound material. The investment positions Amp Robotics to extend its impact in waste management and recycling industries by enabling large-scale projects for waste companies and municipalities. Matanya Horowitz, founder and former CEO, transitioned to CTO, while Tim Stuart, who has a background as COO for Republic Services, now leads the company as CEO. Amp Robotics has also expanded significantly since its establishment in 2014, now employing over 200 people and operating over 400 AI systems across North America.
Sectors
- Recycling Technology
- Venture Capital
Geography
- United States – Amp Robotics is based in Louisville, Colorado, and the article discusses activities in several states, including Virginia.
Industry
- Recycling Technology – Amp Robotics operates within the recycling technology industry, utilizing AI and robotics for waste sorting and management.
- Venture Capital – The article discusses the Series D financing round and lists several venture capital and investment firms that participated.
Financials
- $91 million – The total amount raised by Amp Robotics in the Series D funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Amp Robotics Corp. | Target Company | Company | A company specializing in AI-driven recycling solutions, focused on expanding its recycling systems with new funding. |
| Congruent Ventures | Lead Investor | Company | A venture capital firm based in San Francisco leading Amp Robotics' Series D funding round. |
| Matanya Horowitz | Founder and CTO | Person | Founded Amp Robotics in 2014 and currently serves as Chief Technology Officer. |
| Tim Stuart | CEO | Person | Former COO at Republic Services, Tim Stuart has taken on the role of CEO at Amp Robotics. |
| Sequoia Capital, XN, Blue Earth Capital, Liberty Mutual Investments, California State Teachers Retirement System, Wellington Management, Range Ventures, Tao Capital Partners | Investors | Company | Firms that participated in Amp Robotics' Series D funding round. |
| Waste Connections Inc. | Partner | Company | Partnering with Amp Robotics to equip and operate a new recycling facility. |