Venture Capital: AMP Robotics Raises Series C Funding From Microsoft’s Climate Innovation Fund
The latest round brings the total funding of AMP to over $99 million.
Microsoft’s (NASDAQ: MSFT) Climate Innovation Fund has invested in AMP Robotics Corp. (AMP), a company that applies AI, robotics, and infrastructure to the waste and recycling industry. The latest investment is part of AMP’s Series C round and brings the total funding to over $99 million.
AMP’s AI-enabled automation aims to boost material recovery, productivity, reduce contamination, and address labor shortages in the waste industry. The company’s AI platform identified nearly 75 billion objects in 2022 alone and has deployed hundreds of sorting devices worldwide. (Businesswire)
Cutting-edge technology plays a crucial role in meeting the post-consumer recycled content and other sustainability targets set by brands, and the emergence of new policies and laws in favor of recycling is creating fresh opportunities in this domain.
AMP is in the process of expanding its operations by utilizing technological solutions to retrofit current recycling infrastructure and build new infrastructure that is based on its AI-powered automation. The company recently unveiled AMP Cortex-C, a compact, AI-enabled automated sortation solution, and AMP Vortex, to tackle film contamination and improve recovery of film and flexible packaging.
The funding from Microsoft’s Climate Innovation Fund will help AMP to further its efforts to improve the economics and efficiency of recycling, transform the industrialized global economy into a more circular one, and help meet the world’s imperative climate objectives by extending the circular economy.
Related Story: AI-Based Robotic Waste Recycler AMP Raises $91M
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