BMW and General Electric invest in Xometry manufacturing marketplace

 

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An online marketplace which offers custom-manufactured parts using 3D printing and machine learning to generate instant price quotes has raised $15 million in its latest funding round. 

Relatively new startup company Xometry – which rhymes with geometry and is pronounced zometry – has raised a total of $38 million since it was established in 2013.

The company already generates approximately $20 million in annual revenue and has hundreds of providers and more than 5,000 customers.  Continue reading BMW and General Electric invest in Xometry manufacturing marketplace

Clearpath Robotics raises $30 million to expand Otto self-driving logistics vehicle technology

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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.

“Unlike city streets, a factory floor is a controlled environment, which makes it an ideal place to introduce self-driving vehicles at scale. Companies like Google, Tesla and Uber are still testing, whereas our self-driving vehicles are commercially available today.”  Continue reading Clearpath Robotics raises $30 million to expand Otto self-driving logistics vehicle technology

Caterpillar, GE and Microsoft invest in Sarcos Robotics exoskeleton

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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.

The company says the infusion of capital will be used to expand the Sarcos team and to accelerate the production and deployment of Sarcos’ Guardian line of robots that are significantly reducing the risk of injury and the cost of performing many of the world’s most dangerous and difficult tasks.  Continue reading Caterpillar, GE and Microsoft invest in Sarcos Robotics exoskeleton