Recycleye Artificial Intelligence Recycling has completed A $17 million Series A funding round to reshape the recycling industry

Recycleye, A UK-based waste recycling company, announced that it has closed a $17 million Series A funding round. The round was led by deep Tech venture firm DCVC, with participation from Promus Ventures, Playfair Capital, MMC Ventures, Creator Fund, and Atypal. This round of funding is mainly used for the integration and scale of the manufacturing technology of resource recycling robots, to provide dry and wet waste recycling sorting solutions compatible with the industrial structure, so as to completely change the global waste recycling management model.

Recycleye was co-founded in 2019 by Victor Dewulf and Peter Hedley and is headquartered in London, UK and Paris, France. The company has developed an AI robot for waste recycling that, combined with computer vision and expertise, is able to "see" waste and is trained to pick out an unlimited amount of materials such as plastic, aluminum, paper and cardboard.

Kelly Chen, partner at DCVC, said, "Recycleye is a classic investment for DCVC. The technology they have in place has fundamentally changed the way waste is collected and recycled, creating a trillion dollar economy. We believe the company can capture Time Machine, continue to develop AI technology and expand the market scale."