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.
