Everestlabs Raises $16.1M To Transform The Recycling Industry With Ai And Automation
09/28/22, 1:03 PM
Location
fremont
Money raised
$16.1 million
Industry
artificial intelligence
EverestLabs, developer of RecycleOSSM, the first AI-enabled operating system for recycling, raised $16.1M in Series A funding led by Translink Capital and joined by NEC Orchestrating Future Fund and existing investors BGV, Sierra Ventures, Morado Ventures, and Xplorer Capital. The funding enables the company to invest in its scaling and go-to-market capabilities, including further commercialization activities that build on its AI-powered RecycleOSSM operating system, robotics, and unique end-of-arm tools.
Company Info
Location
74 westline dr.
fremont, california, united states
Additional Info
NYPIT, Inc. (dba Everest Labs)
EverestLabs is working to decarbonize the planet by recovering all recyclables. We are using AI, robotics and automation to help material recovery facilities (MRFs) operate more efficiently and enabling CPG brands to exceed their recycled content, EPR and ESG goals
EverestLabs was founded with the belief that the planet (and industry) needs our help. MRFs are in the business of sorting hundreds of millions of tons of waste and recyclables, and it’s a business that is in dire need of modern technologies amid economic downturns, labor shortages, climate change goals, and more.
EverestLabs’ technology, RecycleOS, is the only AI-enabled recycling solution that empowers MRFs to cost effectively recover more materials. With more than 97% AI accuracy, we guarantee pick efficacy for the widest range of recyclable materials. This leads to increased revenue and better business outcomes for the recycling industry. Most importantly, it’s contributing to a more sustainable future for our planet.
And this is just the beginning: EverestLabs is committed to demystifying AI and automation for the recycling industry and creating a world where no recyclable is left behind.