The UK start-up Recycleye has recently won a staggering $17 million in financing from a Californian venture capital company, DCVC. This funding is in addition to the $5 million raised in 2021 and the $2.6 million in European and UK government innovation funding. The capital will be used to scale the technology and improve its accuracy.
Recycleye has developed an AI-based robotic system for sorting rubbish more accurately and twice as fast as rival systems. Using proprietary AI models, the robot “sees” the waste and can pick an unlimited number of material classes, such as plastics, aluminum, paper, and cardboard. The system is designed to be much more accurate and consistent than manual sorting and can save labor costs.
The company’s goal is to use technology to reduce the waste amount to landfills, a major issue worldwide. It is estimated that 44.3% of the world’s waste was sent to landfill in 2019, which is projected to rise in the coming years. Recycleye’s technology can help reduce waste and increase the efficiency of sorting processes, making it more environmentally friendly.
The company is also working to develop its technology further, such as adding features that enable robots to be used for larger-scale sorting tasks. This could revolutionize waste management and make the process more efficient and cost-effective. In addition, the system can improve the accuracy and speed of sorting in other industries, such as recycling.
The funding for Recycleye is a sign that AI-based robotics are becoming increasingly popular and could be a major factor in transforming the waste management industry. With the right technology and investment, Recycleye is well-positioned to help reduce the amount of waste sent to landfills, making the world cleaner and more sustainable.