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{"id":31871,"date":"2023-05-11T22:00:43","date_gmt":"2023-05-11T22:00:43","guid":{"rendered":"https:\/\/scienceandnerds.com\/2023\/05\/11\/amp-robotics-attracts-investment-from-microsofts-climate-innovation-fund\/"},"modified":"2023-05-11T22:00:44","modified_gmt":"2023-05-11T22:00:44","slug":"amp-robotics-attracts-investment-from-microsofts-climate-innovation-fund","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2023\/05\/11\/amp-robotics-attracts-investment-from-microsofts-climate-innovation-fund\/","title":{"rendered":"AMP Robotics attracts investment from Microsoft\u2019s Climate Innovation Fund"},"content":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/05\/11\/amp-robotics-attracts-investment-from-microsofts-climate-innovation-fund\/<\/a><\/br>
\nAMP Robotics attracts investment from Microsoft\u2019s Climate Innovation Fund<\/br>
\n2023-05-11 22:00:43<\/br><\/p>\n

\n

AMP Robotics<\/a>, a Denver, Colorado-based startup creating robotic systems that can automatically sort recyclable material, today announced<\/a> that it extended its Series C round to $99 million, thanks to an investment from Microsoft\u2019s Climate Innovation Fund. That\u2019s up from $91 million when the round closed in November.<\/p>\n

The extended Series C, which saw participation from investors including Congruent Ventures and Wellington Management (who co-led), Blue Earth Capital, Sidewalk Infrastructure Partners, Tao Capital Partners, XN, Sequoia Capital, GV, Range Ventures and Valor Equity Partners, brings AMP\u2019s total raised to around $178 million.<\/p>\n

\u201cThe capital is helping us scale our operations, including deploying technology solutions to retrofit existing recycling infrastructure and expanding new infrastructure based on our application of AI-powered automation,\u201d founder and CEO Matanya Horowitz told TechCrunch via email.<\/p>\n

Horowitz founded AMP in 2014 after earning his PhD from Caltech. While pursuing his doctorate, he says he saw how powerful computer vision was becoming, and began exploring different areas where the technology could be most useful \u2014 including recycling.<\/p>\n

\u201cAfter visiting a recycling facility and seeing not only how demanding conditions were, but how challenging of a working environment it could be, I recognized this industry was a compelling opportunity for robotics,\u201d Horowitz said. \u201cThe convergence of machine learning and robotics offered compelling opportunities to automate what had historically been tasks that were labor intensive, high cost, inconsistent and limiting.\u201d<\/p>\n

\"Amp<\/p>\n

A sorter machine from AMP Robotics. Image Credits:<\/strong> AMP Robotics<\/p>\n<\/div>\n

It\u2019s also lucrative. The recycling industry contributes nearly $117 billion to the U.S. economy, according<\/a> to the Institute of Scrap Recycling Industries, and the industry processes 130 million metric tons of valuable commodities annually.<\/p>\n

Horowitz asserts that landfilled plastics represent significant losses to the U.S. economy \u2014 an average of around $7.2 billion in 2019, per the Department of Energy<\/a> (DoE). Of the estimated 44 million metric tons of plastic waste managed domestically in 2019, approximately 86% was landfilled, 9% was combusted and 5% was recycled, according to the DoE.<\/p>\n

The recovery of U.S. plastic packaging and food-service plastic<\/a> alone could represent a pool of earnings of $2 billion to $4 billion per year, Horowitz estimates.<\/p>\n

AMP\u2019s primary customers are recycling facilities, which use the startup\u2019s flagship product, a robotic sorting system called AMP Cortex, to sort, pick and reclaim plastics, cardboard, paper, cans, cartons and other containers and packaging types. AMP claims that Cortex can perform 80 to 120 picks per minute while remaining accurate with respect to what it\u2019s sorting where.<\/p>\n

Recently, AMP, which employs a team of around 200 people, unveiled a more compact solution dubbed AMP Cortex-C alongside an integrated, standalone facility offering for waste management companies. Horowitz says that the company\u2019s robotic fleet of around 275 is now deployed in over 100 centers, including several owned by Waste Connections, its largest customer, and that AMP\u2019s AI platform has identified over 75 billion objects to date.<\/p>\n

\u201cOur broad product suite directly deals with the core challenges of operating recycling facilities, and we have some other amazing technology soon to come,\u201d Horowitz added. \u201cWe have a number of larger opportunities in front of us, from opportunities in Europe and across the world, to large, fleet-wide deployments of robots<\/span> and deployment of fully automated sorting facilities. The capital helps us build the technologies and team to support these opportunities.\u201d<\/p>\n

On the subject, AMP plans to grow its secondary sortation business in the U.S. across its three production facilities in the Denver, Atlanta and Cleveland metro areas. In addition to providing robotics infrastructure and software to customers, AMP resells recyclable commodities like bespoke chemical and polymer blends to end-market buyers.<\/p>\n<\/p><\/div>\n

<\/br><\/br><\/br><\/p>\n

Science, Tech, Technology<\/br>
\n<\/br>
\nSource:https:\/\/techcrunch.com\/2023\/05\/11\/amp-robotics-attracts-investment-from-microsofts-climate-innovation-fund\/<\/a><\/br><\/br><\/p>\n","protected":false},"excerpt":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/05\/11\/amp-robotics-attracts-investment-from-microsofts-climate-innovation-fund\/ AMP Robotics attracts investment from Microsoft\u2019s Climate Innovation Fund 2023-05-11 22:00:43 AMP Robotics, a Denver, Colorado-based startup creating robotic systems that can automatically sort recyclable material, today announced that it extended its Series C round to $99 million, thanks to an investment from Microsoft\u2019s Climate Innovation Fund. That\u2019s up from $91 million when the […]<\/p>\n","protected":false},"author":1,"featured_media":31872,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,17,8],"tags":[],"class_list":["post-31871","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-science","category-tech","category-technology"],"yoast_head":"\nAMP Robotics attracts investment from Microsoft\u2019s Climate Innovation Fund - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2023\/05\/11\/amp-robotics-attracts-investment-from-microsofts-climate-innovation-fund\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AMP Robotics attracts investment from Microsoft\u2019s Climate Innovation Fund - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source:https:\/\/techcrunch.com\/2023\/05\/11\/amp-robotics-attracts-investment-from-microsofts-climate-innovation-fund\/ AMP Robotics attracts investment from Microsoft\u2019s Climate Innovation Fund 2023-05-11 22:00:43 AMP Robotics, a Denver, Colorado-based startup creating robotic systems that can automatically sort recyclable material, today announced that it extended its Series C round to $99 million, thanks to an investment from Microsoft\u2019s Climate Innovation Fund. 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