AMP Robotics raises additional Series C funding from Microsoft’s Climate Innovation Fund
AMP Robotics Corp. has received financing from Microsoft's Climate Innovation Fund. This latest investment brings AMP's Series C round, led by Congruent Ventures and Wellington Management, to a total of more than $99 million.
"We've been fortunate to attract world-class investors based on the proven viability of our AI platform as a category-defining technology application for the waste industry, and we're grateful for the investment from Microsoft's Climate Innovation Fund," says Matanya Horowitz, founder and CEO of AMP Robotics. "With its deep expertise and innovation in AI and broad involvement in climate, Microsoft brings an unmatched perspective to our work here at AMP. This new funding will further our efforts to improve the economics and efficiency of recycling and transform our industrialized global economy into a more circular one."
Investment in AI and robotics technologies reflects the growing demand for automation in the waste industry. In addition to improving material recovery by boosting productivity, reducing contamination, and addressing labour shortages, advanced technology is key to meeting brands' post-consumer recycled content and other sustainability commitments. In addition, policy and legislative tailwinds are creating new opportunities for recycling, as more states pass laws raising diversion goals and establishing extended producer responsibility programs.
With its Series C funding, AMP is scaling its operations, including deploying technology solutions to retrofit existing recycling infrastructure and expanding new infrastructure based on its application of AI-powered automation. The company recently unveiled a compact, AI-enabled automated sortation solution, AMP Cortex-C, along with an integrated, standalone facility offering for waste management companies. These developments follow the launch of AMP Vortex to tackle film contamination and improve the recovery of film and flexible packaging.
Brandon Middaugh, the senior director of the Climate Innovation Fund at Microsoft, said, "There's an urgent need for solutions and ongoing innovation to address our critical waste crisis. AMP provides a powerful and scalable application of AI-enabled automation to help meet the world's imperative climate objectives by extending the circular economy."
AMP's AI platform identified nearly 75 billion objects in 2022 alone. The company has deployed hundreds of sorting devices globally to increase recycling rates and landfill diversion.
