The Denver-based recycling robotics startup is reportedly on the brink of securing the financing just a week after it signed its largest-ever purchase order to supply 24 recycling robots to American waste-handling company Waste Connections. The company previously raised US$16 million in a October 2019 Series A round led by Sequoia, with the participation of Baidu Ventures, Sidewalk Infrastructure Partners and others, according to PitchBook data. (TechCrunch, The Logic)
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The Denver-based recycling robotics startup is reportedly on the brink of securing the financing just a week after it signed its largest-ever purchase order to supply 24 recycling robots to American waste-handling company Waste Connections. The company previously raised US$16 million in a October 2019 Series A round led by Sequoia, with the participation of Baidu Ventures, Sidewalk Infrastructure Partners and others, according to PitchBook data. (TechCrunch, The Logic)
Talking point: AMP’s business has boomed since the start of the pandemic, with the rise in home deliveries and a subsequent increase in recycling material to sift through at waste centres, coupled with COVID-related safety concerns for workers handling recyclable materials. The robots can identify specific kinds of plastic and sort waste by colour, clarity and opacity. Earlier this year, AMP worked with Sidewalk Labs, an investor in Sidewalk Infrastructure Partners along with the Ontario Teachers’ Pension Plan, on a pilot recycling program in a Toronto apartment building that aimed to help residents refine their recycling habits.
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