Sorted, a London, UK-based recycling tech business, has raised £1.65 million in a seed funding.
Investors
The round was led by Pi Labs and saw participation from various investors, including Archipelago Ventures, Circular Plastics Accelerator, Conduit Connect, Antler, and several angel investors.
Pi Labs is a venture capital firm that backs founders in creating a digital and sustainable built world. Since 2015, the firm has made over 80 investments across 15 countries through three funds, delivering 14 exits. It was founded in 2014 and is based in London, England.
Sorted Use of Funds
The investment will enable Sorted to expand its business development and technical teams, accelerating its go-to-market strategy.
About Sorted
Founded in 2022 by Arthur Goujon and Luis Espinosa, Sorted is a company that provides AI-powered solutions to sort recyclable materials. Its proprietary technology uses computer vision and spectroscopy to identify items and controlled lasers to guide human pickers at Material Recovery Facilities (‘MRFs’). Its goal is to help waste companies to reduce the materials that end up in landfill or incineration. Sorted has already secured partnerships with some of the largest waste management and recycling firms across the UK and France, including SUEZ UK and Cawleys.
Funding Details
Company: Sorted Technologies Ltd.
Raised: £1.65M
Round: Seed Round
Funding Month: April 2024
Lead Investors: Pi Labs
Additional Investors: Archipelago Ventures, Circular Plastics Accelerator, Conduit Connect, Antler
Company Website: https://www.sortedtech.io/
Software Category: AI Material Sorting
Source: https://www.uktechnews.info/2024/04/23/sorted-technologies-t-a-sorted-secures-1-65-million-seed-investment-led-by-pi-labs/