Robotic Vision Technologies, a provider of machine vision software, has secured more than $10.5 million in funding.
The investment comes from a mix of CEO and director funding as well as investments from technology funds from Silicon Valley, Northern Virginia, Canada and Germany.
To date, RVT has used its funding to focus heavily on research and development while continually enhancing its software with “faster computing power producing increased precision and speed with low-cost, yet highly sophisticated, off-the-shelf vision hardware components”.
With those efforts solidified, the company says it is now in the phase of building out its sales and marketing capabilities to support growth and market penetration in both the industrial and collaborative robot markets.
Rick Weidinger, RVT founder and chief executive officer, says: “Our focus has been to perfect our quality and product line prior to any major marketing effort.
“With the success we have achieved in early implementations along with the patents we’ve secured for our innovation, now is the time to build our sales channels and lead the way in 3D vision guidance software.”
RVT and its partners were recently granted four new patents for several aspects of its technology, including visual sensing and processing software that improves the efficiency and safety of automated robotic systems.
RVT has recently filed for 14 patents for a total portfolio of 20 vision guidance patents.
Major automotive and other manufacturers are already using RVT’s new technology in their factories, and more are applying upgraded RVT software into their production lines now.
New York Times bestselling author Ric Edelman, RVT investor and founder and executive chairman of Edelman Financial Services, one of the largest investment management firms in the nation, with $22 billion in assets under management, says: “The reality of machine vision will be one of the most disruptive forces in all areas of manufacturing and transportation over the next decade.
“RVT and its technology are poised to transform the way robots function in multiple markets.
“Their innovations in how machines perceive and respond to their environments are exactly what customers are looking for as they develop the next generation of equipment and end user products.”
Robotic Vision Technologies will be showcasing its technologies at the AIA Vision show April 10-12 at Booth #907.
RVT says its eVisionFactory software platform was named “the most accurate and precise vision guidance solution” in a recent study by one of the world’s largest and most technologically advanced automakers.
RVT outperformed competitors across all six degrees of freedom, performing 10 to 100 times more accurately than any other platform,, according to the company.
Weidinger says: “Determining all six degrees of freedom accurately is one of the greatest challenges in the field of vision guidance for robotics.
“Our platform enhanced accuracy beyond either the camera resolution or the robot itself, showing the critical nature of software in the success of robotics in all fields.”