Amp Robotics 55m Series – Recently, Dublin-based robotics company AMP Robotics has raised $55 million for recycling robots. The new funding puts the startup at a valuation of $240 million.
AMP Robotics was started in 2010 by entrepreneur Dr. Janusz Kruczynski and Russian engineer Andrei Danilov with the goal of creating robotics solutions for industrial sorting & recycling.
AMP Robotics has created a robot called “Bob” which it says can pick and sort 200 items in under 30 seconds, while it is linked to a flatbed truck delivering sorted materials. The company says the robot can identify and sort even difficult-to-recycle materials, like some plastics. According to AMP Robotics, Bob can also pick up objects that are larger than 15 centimetres (about 6 inches), which the company says is larger than what most robots are capable of picking up, such as sandblasting tools.
AMP Robotics says it is working with a number of companies that use its robots for industrial debris sorting, including recycling plants in the United States, Europe, and Asia Pacific. The company also says it will be adding high-speed sorting capabilities to its existing robots.
“AMP Robotics is uniquely positioned to add value as a provider of technology solutions to the global recycling industry,” said AMP Robotics CEO Janusz Kruczynski in a statement.
“Our proprietary technology and experience in developing robotic solutions for the industry allow us to deliver differentiated solutions. We are also collaborating with market leaders in the industry to develop solutions that aim for a broader scale and deployment of our robotics.”
The investment in AMP Robotics was led by Equitire and included participation from Aavaka, Atlantic Bridge, BDC Capital, Draper Esprit, Oakhouse Partners and Rokk3r-Ventures. In total AMP Robotics has received $114 million in funding to date.
AMP Robotics says it will use the new financing to continue to grow its business and “to expand its presence across North America, Europe and Asia Pacific.”
“Our investment in AMP Robotics is an example of our strategy to partner with market-leading companies offering solutions that are ideally positioned to disrupt their respective industries,” said Equitire’s CEO David Murphy.
“AMP Robotics’ ‘Bob’ solution is fundamentally changing how recycling is done and has the potential to be deployed in a multitude of industries.”
In September, AMP Robotics was also selected for the inaugural cohort of Wayra, Telefonica’s startup accelerator. The company will receive a $50,000 grant from Wayra as well as office space at Telefonica’s London headquarters for up to six months and access to mentors and advisors.
AMP Robotics is infusing Wayra into its own six-month accelerator program, called AMP Accelerate. AMP Accelerate pairs startups with mentors and provides access to clients, investors and potential integrations with Telefonica’s technology platform.
“We are honored to be selected for Wayra’s first cohort in Western Europe,” said Kruczynski in a statement.
“We are looking forward to building a strategic partnership with Wayra and leveraging our expertise to support their global launch of the accelerator program.”
AMP Robotics has also been chosen by the European Commission as one of four finalists to work on “a new initiative aiming to make Europe a smarter, greener place in which to build robots.” The initiative is focused on developing robotics technologies that can be used in agriculture and elsewhere. The winner of the competition will be announced in October. Check ImgInn
AMP Robotics is based in Dublin with offices in the United States and Russia.
Earlier this year AMP Robotics acquired another robotics company, which develops industrial sorting systems.
In March, AMP Robotics announced a $25 million investment in a new manufacturing facility to build its recycling robots.