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Roadrunner recycling, a data-driven waste management platform that helps businesses remove their junk from landfill sites, has raised $ 70 million in a Category D round of funding from General Atlantic’s new climate investment venture BeyondNetZero.
The global climate disaster represents a major dilemma for businesses across the industrial spectrum, with companies coming under increasing pressure and scrutiny to address their environmental impact. But achieving this is often said to be easier said than done, especially for large companies that operate multiple locations, vendors and systems. This is a problem that Roadrunner is setting to solve.
“We address the operational inefficiencies that often come with traditional waste and recycling management in large organizations,” said Graham Rihan, founder and CEO of Roderner, to VentureBeat. “Industries generally lack the time and resources to properly manage day-to-day waste and recycling operations for their portfolios, making it virtually impossible to identify opportunities to reduce costs and advance ESG (environmental, social and governance) efforts.”
Big data insights
Companies like multinational manufacturer Avery Dennison use Roadrunner to manage their daily waste and recycling programs. Built on machine learning, the Roadrunner platform can predict the amount of material produced by various industries and which container will most effectively organize the estimated waste for recycling.
In terms of Type The data that Roadrunner feeds into its ML algorithms, well, includes everything from volume, industry-type and location data to client proximity to other parties (e.g., customers, recycling outlets, landfills).
“We’ve created a predictive model that recommends the most efficient outcome for each customer as it relates to reducing costs and increasing recycling as part of their waste management program,” Rihan explained. “Our recommendations are tailored to each customer location, but a number of locations are built and automated to scale nationally.”
Like any good machine learning algorithm, Roadrunner claims to improve over time as more data is added to the mix, so it can compare current and historical results to make better recommendations.
In addition, Roadrunner Partners can create customized routing for transportation partners, so that the materials that need to be collected and recycled can be transported in the most efficient way – designed to encourage these companies to recycle by reducing costs. So clean, completely separate (i.e. not contaminated) material will be collected by nearby drivers and left at the nearest recycling facility.
“This method allows Roadrunner to operate as an asset-light organization – we don’t have trucks – and bypasses the environmental and financial costs of the traditional waste disposal process,” Rihan added.
So what, exactly, is Rodrરguez against – what current solutions does he want to change?
“Before Roadrunner, a business would contract with a solid waste company where about 95% of their material goes to landfill because of the inefficiencies that separate traditional hauling and material – meaning, legacy customer experience is offline,” Rihan explained. “When a business is signed in with RoadRunner, we become their materials management partner, implementing customized flexible recycling options to fit their business, onboarding existing incumbent solid waste companies.”
Founded in Pittsburgh, Pennsylvania in 2014, Rodrરેguez previously raised about 60 million, and with another $ 70 million in bank, the company has good financing to capitalize on the growing demand for technology that helps companies reduce their waste – a communal streak with data. Serve as For example, last month alone, carbon management company Sweep raised $ 22 million, enabling large companies to reduce their carbon footprints through big data insights.
“We believe this next phase of growth will put Roadrunner on a course to achieve his vision of moving the entire waste industry toward sustainable change while protecting our planet and our future,” Rihanna said.
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