Waste Robotics lands C$10m round backed by Mirova, Fondaction

• Founded in 2016, Waste Robotics offers a solution for intelligent sorting by bringing together waste recognition technology, deep-learning algorithms and robotic innovations
• Its solution enables recycling centers to improve the quality of sorted flows and gain in safety and profitability in their management of reusable materials
• The funds raised will help Waste Robotics accelerate its commercial development and strengthen its presence in Europe and North America

Waste Robotics, a Trois-Rivières, Quebec-based developer and marketer of autonomous robots for sorting centers, has raised C$10 million in financing.

The round’s investors were Mirova, an affiliate of Natixis Investment Managers, and existing investor Fondaction. The financing follows a C$5 million investment made by Fondaction and Fonds LCC in March 2021.

Founded in 2016, Waste Robotics offers a solution for intelligent sorting by bringing together waste recognition technology, deep-learning algorithms and robotic innovations to enable recycling centers to improve the quality of sorted flows and gain in safety and profitability in their management of reusable materials. Due to its use of artificial intelligence, the company aims to make sorting centers virtually autonomous.

The funds raised will help Waste Robotics accelerate its commercial development and strengthen its presence in Europe, particularly in France, and North America.

Joanna Parent, an investment director at Mirova, said in a statement, “Waste Robotics’ activity is perfectly aligned with Mirova’s mission, which since its inception has favored the development of innovative solutions with a positive impact on the environment. That’s why we’re delighted to support Waste Robotics in its development.”

Keira Capital acted as broker for Waste Robotics in the deal.