Glacier, an innovation leader in AI-powered robotic waste technology, announced that it launched out of stealth and raised $4.5 million in seed funding.
The round was led by New Enterprise Associates (NEA), with participation by prominent leaders in the industry, sustainability, and technology, including former GE CEO Jeff Immelt, climate investor and former climate policymaker Sierra Peterson, and former Uber CPO Manik Gupta.
Company: Glacier
Raised: $4.5M
Round: Seed Round
Funding Month: April 2022
Lead Investors: New Enterprise Associates (NEA)
Additional Investors: Jeff Immelt, Sierra Peterson, and Manik Gupta
Company Website: https://www.endwaste.io/
Software Category: AI-powered Robotic Waste Technology
About the Company: Glacier is the creator of the first affordable, high-performing, and space-efficient AI-enabled robot for recycling. Glacier produces an industry-leading recycling robot–a combination of cutting-edge AI and robotics–that sorts over 30 different item types. Glacier's technology is entering the market at a critical time: the $116B US recycling industry is urgently looking for innovation to address surging demand for recycled feedstock, as well as overcome major feedstock supply shortages caused by an aging infrastructure and a dwindling labor pool. By increasing recycling rates, Glacier's technology is also instrumental in the fight against climate change. This is more critical than ever, with the UN warning just earlier this month that humanity needs to act "now or never" to limit global warming.
Source: https://www.prnewswire.com/news-releases/glacier-raises-4-5m-to-combat-climate-change-with-ai-powered-recycling-robots-301527666.html