EverestLabs, a California-based startup offering AI-based waste monitoring software, has raised USD 16.1 million in a Series A funding round led by Translink Capital. New investor NEC Orchestrating Future Fund and existing investors BGV, Sierra Ventures, Morado Ventures, and Xplorer Capital also joined the round.
The funds will be earmarked for scaling the business and go-to-market capabilities including building on the company’s AI-powered “RecycleOS” operating system and robotics infrastructure.
Founded in 2018, EverestLabs offers an AI-based operating system “RecycleOS” and robotics solutions that help material recovery facilities (MRFs) and consumer packaged goods (CPG) companies increase the recovery and usage of recycled materials. The company claims that its solutions increase the recovery of recyclable materials by up to 4x more than manual processes and at a 3–4x cheaper rate than traditional solutions.
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