# EverestLabs

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/everestlabs

- Industry: Environmental Services
- Headquarters: Fremont, US
- Website: www.everestlabs.ai
- Total disclosed funding: $20M
- Latest round: Series A (Jun 24, 2022)
- Investors on record: 6

## About

EverestLabs, based in the United States, develops AI-driven solutions for recycling operations, focusing on automation and efficiency within Material Recovery Facilities through innovative technology.Founded in 2018, EverestLabs is headquartered in Fremont, US, specializing in AI solutions for recycling. The company has pivoted towards enhancing automation in recycling processes, with its latest funding round raised on June 24, 2022, securing USD 16.1 mn in Series A funding led by TransLink Capital. Jagadeesh Ambati, the CEO and founder, has a background in technology and innovation.EverestLabs specializes in the development and deployment of AI-driven solutions for recycling operations, notably through its flagship product, RecycleOS. This operating system incorporates advanced vision technology, AI, and robotics to automate Material Recovery Facilities (MRFs), allowing for precise identification and sorting of recyclable materials. The company caters to clients including materials recovery facilities, recyclers, and packaging manufacturers, addressing efficiency in recycling processes and contributing to improved sustainability.Revenue generation for EverestLabs is primarily through partnerships and direct B2B transactions in the recycling industry. The company offers a subscription-based model for its RecycleOS platform, which includes installation and maintenance services. Clients enter agreements that encompass both software and hardware installations, such as robotic sorting systems, designed to enhance operational efficiency and recovery rates.Following its recent Series A funding of USD 16.1 mn, EverestLabs plans to invest in workforce development and product innovations to support its nationwide consumers. The company is focusing on expanding its AI solutions into new markets, with particular attention on regions facing significant waste management challenges. These strategies are aimed at enhancing operational capabilities and establishing long-term industry relationships.

## Funding rounds

- Series A, Jun 24, 2022, $16M — Sierra Ventures, TransLink Capital, Morado Ventures, BGV, NEC Capital Solutions, Xplorer Capital
- Seed, Mar 30, 2021, $3.5M — Sierra Ventures
- Seed, Apr 22, 2020 — Sierra Ventures, Morado Ventures, BGV, Xplorer Capital

## Investors

- Sierra Ventures (https://capitalatlas.ai/funds/sierra-ventures) — Seed, Series A
- Morado Ventures (https://capitalatlas.ai/funds/morado-ventures) — Seed, Series A
- BGV (https://capitalatlas.ai/funds/bgv) — Seed, Series A
- Xplorer Capital (https://capitalatlas.ai/funds/xplorer-capital) — Seed, Series A
- TransLink Capital (https://capitalatlas.ai/funds/translink-capital) — Series A
- NEC Capital Solutions (https://capitalatlas.ai/funds/nec-capital-solutions) — Series A