TrueCircle, an AI company deploying computer vision into recycling facilities, enabling them to operate more efficiently and profitably, secured $5.5 million (£4.1 million) pre-seed funding.
The round was led by Chris Sacca’s climate-focused Lowercarbon Capital fund, with participation from Passion Capital, Giant Ventures, and firstminute Capital, as well as the founders of companies including Revolut, Monzo, Infarm, and Unity investing in a personal capacity.
Company: TrueCircle Technologies Ltd.
Raised: $5.5M
Round: pre-seed
Funding Month: March 2022
Lead Investors: Lowercarbon Capital fund
Additional Investors: Passion Capital, Giant Ventures, firstminute Capital, Revolut, Monzo, Infarm, and Unity
Company Website: https://www.truecircle.ai/
Software Category: Computer Vision
About the Company: TrueCircle is an AI company deploying computer vision into recycling facilities, enabling them to operate more efficiently and profitably. TrueCircle’s vision systems can be retrofitted in under an hour and instantly provide facilities with the live data they need to understand their material streams. Facilities integrate this data into their operations and existing machinery to optimize their processes and ensure that they recycle higher quantities of valuable plastic and paper material. TrueCircle’s technology has now been deployed into eight of the UK’s largest recycling facilities (including material recovery facilities or “MRFs”, plastic reprocessors, and paper mills). Expansion into European and US markets is imminent with customers in those regions due to go live in Q2.
Source: https://www.uktechnews.info/2022/03/04/truecircle-technologies-secures-4-1-million-pre-seed-investment-led-by-lowercarbon-capital/