AMP Robotics: Revolutionizing Waste Management with a $91m Boost
Deal News | Dec 06, 2024 | Congruent Ventures
AMP Robotics has secured $91 million in a Series D funding round led by Congruent Ventures, with participation from prominent investors like Sequoia Capital, XN, and others. The financing is aimed at accelerating the deployment of its AMP ONE systems, which are designed to efficiently sort municipal solid waste using advanced AI technology. AMP Robotics’ AI capabilities involve deep learning, utilizing millions of material images to improve its pattern recognition abilities for real-time identification of recyclables and contaminants. The company, which initially introduced sorting robots for existing facilities, has advanced to developing full-scale, AI-driven recycling facilities with minimal manual intervention. This expansion includes previously unavailable capabilities in municipal solid waste sorting. AMP Robotics has also entered into an agreement with Waste Connections to integrate its technology in their US recycling facilities.
Sectors
- Artificial Intelligence
- Waste Management
- Venture Capital
Geography
- United States – AMP Robotics demonstrated and aims to deploy its technology across recycling facilities in the US.
Industry
- Artificial Intelligence – The article discusses the use of AI in waste sortation systems developed by AMP Robotics.
- Waste Management – AMP Robotics focuses on innovative waste management solutions, utilizing AI to sort municipal solid waste.
- Venture Capital – The funding round led by Congruent Ventures involves investments by multiple venture capital firms.
Financials
- $91 million – Total amount raised by AMP Robotics in the Series D funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| AMP Robotics | Target Company | Company | Developer of AI-powered waste sortation systems. |
| Congruent Ventures | Lead Investor | Company | Venture capital firm leading the Series D funding round. |
| Sequoia Capital | Investor | Company | Participating investor in the Series D funding round. |
| XN | Investor | Company | Participating investor in the Series D funding round. |
| Blue Earth Capital | Investor | Company | Participating investor in the Series D funding round. |
| Liberty Mutual Investments | Investor | Company | Participating investor in the Series D funding round. |
| Tao Capital Partners | Investor | Company | Participating investor in the Series D funding round. |
| Waste Connections | Partner Company | Company | Partnering with AMP Robotics to implement technology in their recycling facilities. |