Funding from iNovia Capital, Caterpillar Ventures, GE Ventures and previous investors will expand new Otto Motors division
Clearpath Robotics, a leading provider of self-driving vehicle solutions, announced today the completion of a $30 million investment led by iNovia Capital with participation from Caterpillar Ventures, GE Ventures, Eclipse Ventures, RRE Ventures and Silicon Valley Bank.
Clearpath will use the funding to grow the company’s industrial division, Otto Motors. Clearpath launched Otto Motors in 2015 to focus on self-driving vehicles for material transport inside manufacturing and warehouse operations.
Matt Rendall, CEO and co-founder of Clearpath, says: “Factories operate like small indoor cities, complete with roads, traffic, intersections and pedestrians.
Sarcos Robotics says its Guardian exoskeleton (pictured) will be capable of lifting hundreds of pounds when it is commercially available
Sarcos Robotics, a developer of dexterous industrial robots for use in unstructured environments, has secured $10.5 million in funding from a group of top-tier strategic investors including Caterpillar Ventures, GE Ventures, and Microsoft.
Additionally, Cottonwood Technology Fund and two other private investment firms, together with the company’s three co-founders, Ben Wolff, Dr Fraser Smith and Dr Marc Olivier, invested in the financing round.
Caterpillar, one of the world’s largest manufacturers of construction and mining equipment, much of which is robotic or autonomous, is to use Dassault Systèmes 3DExperience software.
Dassault says the industrial giant has chosen the platform because its powerful 3D mock-up capabilities and product lifecycle management (PLM) features were essential to its requirements.
Dassault has been particularly keen to demonstrate its software’s simulation capabilities, having launched “single source for speed” system, featuring Simulia applications. These will enable enable Caterpillar to virtually evaluate the performance, quality and durability of future products before committing to physical prototypes, says Dassault. Continue reading Caterpillar to use Dassault Systèmes 3DExperience platform