USA – EverestLabs, a Fremont, CA-based developer of an AI-enabled operating system for recycling, raised $16.1M in funding.
The round was led by Translink Capital with participation form NEC Orchestrating Future Fund, BGV, Sierra Ventures, Morado Ventures, and Xplorer Capital. As part of this funding round, Kaz Kikuchi of Translink Capital will join EverestLabs’ board.The company intends to use the funds to invest in scaling and go-to-market capabilities, including further commercialization activities that build on its AI-powered RecycleOS operating system, robotics, and tools.
Led by CEO JD Ambati, EverestLabs is a climate tech company and the developer of RecycleOS, an AI software and robotics solution for recycling plants, CPG companies, and packaging manufacturers to achieve decarbonization. The solutions are deployed by materials recovery companies and increase the recovery of recyclables at recycling plants (material recovery facilities) and enable CPG companies and packaging manufacturers to reach their ESG, EPR, and recycled content goals. EverestLabs’ value proposition has been validated by public companies, private companies, and local cities in the U.S., including North America’s largest MRF, Sims Municipal Recycling Sunset Park in Brooklyn, New York.29/09/2022
