Robotic recycling firm set for high powered growth
ZenRobotics has secured €13m in investment funding to grow and commercialise its robotic waste recycling system, following the sale of its first ZenRobotics Recycler in a deal worth €1m.
Earlier this month, Dutch firm Baetsen Recycling became the first company to purchase the hi-tech system, which is powered by artificial intelligence. It will be installed at its construction waste recycling plant in Son, Netherlands.
International equity investor Invus is now injecting €13m capital into the technology along with Lifeline Ventures, a Finnish technology accelerator, who is buying a minority stake in ZenRobotics.
The funding will allow ZenRobotics to refine its technology and accelerate its reach into international markets. The company's ceo Juho Malmberg said his product was a tough act to follow and that its partnership with Invus opened up "great possibilities".
The ZenRobotics Recycler is marketed globally, through a reseller network in 49 countries. ZenRobotics, headquartered in Helsinki, Finland, is a privately held company owned by its founders, management, key personnel, and investors.