Lowenstein Sandler represented Wayste Inc. (dba Sourgum), the technology leader modernizing waste and recycling services, in the closing of its $12.5 million Series A funding round. The capital will enable Sourgum to expand its reach and help multi-location businesses streamline and optimize their waste operations through innovative, data-driven technology.
The round was led by Spark Capital, with participation from
Suffolk Technologies, Founder Collective, 186 Ventures, River Park
Ventures, Blue Dream Investments, and Broadway Venture Partners.
The fresh capital will power the continued expansion of
Sourgum’s AI-powered waste management platform, fuel growth
in new markets, and further the company’s commitment to
building more sustainable and efficient waste solutions for its
clients.
Sourgum is transforming the $100B+ waste and recycling industry
through cutting-edge technology that makes waste removal simpler,
smarter, and more cost-effective. Its innovative haul sourcing
platform facilitates businesses with high-quality waste services at
significantly reduced costs — saving customers an average of
20 percent.
The Lowenstein team included Raymond P. Thek, Sarah Gore, Samantha Fox, and Waleey Fatai.