Artificial Intelligence equipped waste management robotics firm Recycleye has secuered USD 17 million in funding during its recent financial drive. Recycleye’s AI technology focuses on transforming waste into useful raw materials, and also, it can generate important data propelling major decisions in the Material Recovery Facility. With the AI protocol, the robot sees waste and has been formatted to pick materials like plastics, paper, cardboard and aluminium in a never-ending cycle. The new investment will be essential for improving Recycleye’s sorting technique, boosting its uncommon accuracy.Sorting various waste materials is extremely vital for a smooth recycling process. Recycleye optimises AI-run waste-extracting robots to reduce the cost of sorting material waste. The technology applies the smartness of a computer and high-end robotics to clasp and sort the materials without any hindrance.The funding initiative was led by DCVC, with the already enlisted investors heightening their stakes. The existing players like Playfair Capital, Creator Fund, MMC Ventures, Promus Ventures and Atypical were all accompanied by new investors Seaya Andromeda, hailing from Madrid.The first round of funding was USD 5 million, essentially raised in 2021, while the second round amounted to USD 2.6 million secured via the European and UK Government innovation fundraiser.
Artificial Intelligence equipped waste management robotics firm Recycleye has secuered USD 17 million in funding during its recent financial drive. Recycleye’s AI technology focuses on transforming waste into useful raw materials, and also, it can generate important data propelling major decisions in the Material Recovery Facility. With the AI protocol, the robot sees waste and has been formatted to pick materials like plastics, paper, cardboard and aluminium in a never-ending cycle. The new investment will be essential for improving Recycleye’s sorting technique, boosting its uncommon accuracy.Sorting various waste materials is extremely vital for a smooth recycling process. Recycleye optimises AI-run waste-extracting robots to reduce the cost of sorting material waste. The technology applies the smartness of a computer and high-end robotics to clasp and sort the materials without any hindrance.The funding initiative was led by DCVC, with the already enlisted investors heightening their stakes. The existing players like Playfair Capital, Creator Fund, MMC Ventures, Promus Ventures and Atypical were all accompanied by new investors Seaya Andromeda, hailing from Madrid.The first round of funding was USD 5 million, essentially raised in 2021, while the second round amounted to USD 2.6 million secured via the European and UK Government innovation fundraiser.
