RoadRunner, a Pittsburgh, PA-based recycling firm that uses machine learning algorithms to assist businesses with waste management, raised $70 million in a Series D funding round from General Atlantic’s BeyondNetZero, a climate-focused investment venture.
The new funding will be used to further expand the company's machine-learning and recycling marketplace technology, as well as to drive national expansion and support its operations in over 40 U.S. locations.
Company: RoadRunner Recycling Inc.
Raised: $70.0M
Round: Series D
Funding Month: January 2022
Lead Investors: General Atlantic’s BeyondNetZero
Additional Investors:
Company Website: https://www.roadrunnerwm.com/
Software Category: End to end waste and recycling solutions
About the Company: RoadRunner is smarter recycling, develops, and manages end-to-end waste and recycling solutions. The value proposition of RoadRunner is to utilize machine learning to forecast the number of various materials created by various businesses in order to categorize what may be diverted away from landfills into recycling streams and urban logistics to design effective carrying routes. RoadRunner provides a variety of services, such as rubbish removal and recycling. Cardboard, paper, and mixed materials such as metal cans, plastic bottles, and glass are examples of recycled materials. The company also offers a food composting service to businesses that generate big amounts of organic waste, such as restaurants and grocery shops. To date, RoadRunner has diverted more than 200,000 tons of waste from landfills across more than 8,000 locations and in the process saved in excess of $50 million on waste and recycling using its platform.
Source: https://siliconangle.com/2022/01/07/smart-recycling-firm-roadrunner-raises-70m-new-funding/