AMP Robotics raises $99 million in extended Series C round with Microsoft's Climate Innovation Fund

Denver-based AMP Robotics has extended its Series C round to $99 million, thanks to Microsoft’s Climate Innovation Fund, bringing the company's total raised to around $178 million.

AMP Robotics creates robotic systems that can automatically sort recyclable materials, an industry that contributes nearly $117 billion to the U.S. economy.

The recycling industry processes 130 million metric tons of valuable commodities annually, but only 5% of plastic waste was recycled domestically in 2019.

Founder and CEO Matanya Horowitz recognized that the recycling industry was a compelling opportunity for robotics to automate historically labor-intensive and costly tasks.

AMP's flagship product, AMP Cortex, uses AI-powered automation to sort plastics, cardboard, paper, cans, cartons, and other packaging types, performing 80 to 120 picks per minute.

Recently, AMP unveiled a more compact solution dubbed AMP Cortex-C alongside an integrated, standalone facility offering for waste management companies.

AMP's robotic fleet of around 275 is deployed in over 100 centers, including several owned by Waste Connections, its largest customer.

The capital from Microsoft's Climate Innovation Fund will help AMP scale operations, deploy technology solutions, and build the team to support larger opportunities in Europe and across the world.

AMP also plans to grow its secondary sortation business in the U.S. across its three production facilities in the Denver, Atlanta, and Cleveland metro areas.