(PRESS RELEASE) ZenRobotics Ltd. the world leader in robotic recycling today announced it is raising €13 million (approximately USD 17 million) from Invus, an international equity investor with evergreen capital. Lifeline Ventures, a Finnish technology accelerator, participates with a minority stake. The funding allows ZenRobotics to grow and to commercialize its ZenRobotics Recycler product on a global scale.
The company’s main product, ZenRobotics Recycler (ZRR), is a revolutionary robotic waste sorting system. The ZRR system currently reclaims valuable raw materials from construction and demolition waste, with industrial robots controlled by artificial intelligence. The system offers significant savings in disposal costs by identifying and picking valuable raw materials that would otherwise be lost. Payback time is estimated at less than a year.
“The fantastic ZenRobotics team has created a product that is unique; it will be a tough act to follow. After an intensive research and product development phase we’re now shipping: the world gets ZenRobotics Recycler! Our continued partnership with Invus opens great possibilities. We can now go global, fast. The robotic revolution in recycling is closer than ever!”, says Juho Malmberg, CEO, ZenRobotics Ltd.
“Invus has now worked with ZenRobotics for a year and we’re excited. The team is exceptionally capable and ready to go global. The revolutionary ZenRobotics Recycler sorting system has improved in leaps, and attracts customers globally. We’re now investing in high-powered growth”, says Wassim Sacre, Director, Invus.
Contacts:
Juho Malmberg, CEO, ZenRobotics Ltd.
Tel. +358 40 7216002 (8-15 GMT)
juho.malmberg@zenrobotics.com
Wassim Sacre, Director, Invus
Tel. +33 1 56 90 50 00
ws@invus.com
