Glacier Announces Emergence from Stealth Mode with $4.5M Series Seed Financing
Gunderson Dettmer represented client Glacier, an AI recycling robotics company, in its emergence from stealth mode and its announcement of a $4.5 million Series Seed financing led by New Enterprise Associates. Glacier utilizes machine learning technology for identifying and sorting commodities to divert more recyclables from landfills and decrease the depletion of natural resources. The new capital will be used to increase the company’s headcount and accelerate their system’s commercial deployment.
In the announcement of the de-stealth and transaction, Co-Founder Rebecca Hu said, “Glacier‘s technology has benefited from not only Areeb’s AI experience at Facebook, but also our incredible team of interdisciplinary robotics and AI engineers.” Hu tells TechCrunch, “Our team has developed and deployed self-driving excavators and forklifts, extraterrestrial mining robots, humanoid disaster response robots and AI models to detect prostate cancer. We’re really proud to have gathered some of the best technological minds in one place. What makes us particularly special, and what we look for in every new hire, is a deep passion for fighting climate change. That intrinsic motivation across the whole team really pushes us to go the extra mile for the entire recycling industry.”
The Gunderson deal team was led by Nic Markman and included Jenna Finegold.