AMP will use this latest funding to further scale operations and develop new AI products that help improve the economics of recycling. As part of the investment, Shaun Maguire of Sequoia will join AMP’s board of directors.
To address these challenges, AMP commercialized the AMP CortexTM high-speed robotics system that precisely automates the identification and automated sorting of municipal waste, e-waste and construction and demolition debris. AMP’s robots consistently pick twice as fast as humanly possible and with much greater accuracy. The AMP NeuronTM AI platform guides the robots to perform sorting tasks, applying computer vision and machine learning to recognize different colors, textures, shapes, sizes, patterns and brands to identify material characteristics. The AI platform transforms millions of images into data, digitizing the material stream, capturing data on what goes in and out, so informed decisions can be made about operations and performance.
“Our new partners at Sequoia have a history of building category defining businesses, and we are deeply excited to be executing on this vision with their experience, along with our existing world-class consortium of investors,” said Matanya Horowitz, founder and chief executive officer at AMP.