• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • Skip to footer
  • Home
  • Subscribe
  • Your Membership
    • Edit Your Profile
  • Services
    • Advertising
    • Case studies
    • Design
    • Email marketing
    • Lead generation
    • Magazine
    • Press releases
    • Publishing
    • Sponsored posts
    • Webcasting
    • Webinars
    • White papers
    • Writing
  • Shop
    • My Account
    • Cart
  • About
    • Contact
    • Privacy
    • Terms of use
  • Events

Robotics & Automation News

Market trends and business perspectives

  • News
  • Features
  • Video
  • Webinars
  • White papers
  • Press releases
  • Featured companies
    • AMD Xilinx
    • BlueBotics
    • Elite Robot
    • RGo Robotics
    • SICK Sensor Intelligence
    • Vicor Power

Rapid Robotics raises $37 million in new investment

August 18, 2021 by David Edwards Leave a Comment

Rapid Robotics, creator of what it says is “the first ready-to-work robotic machine operator”, has raised $36.7 million in Series B funding.

The funding round was led by Kleiner Perkins and Tiger Global, with existing investors NEA, Greycroft, Bee Partners and 468 Capital also participating.

The latest round is Rapid’s third in less than a year, bringing its total funding to $54.2 million.

Since emerging from stealth in late 2020, Rapid Robotics says it has quickly established itself as a “must-take meeting” for American manufacturers, as they grapple with a crippling labor shortage that Covid-19 turned into a full-blown crisis.

According to a recent study from Deloitte and The Manufacturing Institute, by the end of 2020 the manufacturing industry had regained only 63 percent of jobs lost during the pandemic, even with job openings at near-record levels.

In a statement accompanying the study, Paul Wellener, Deloitte vice chairman and US industrial products and construction leader, says: “Given the foundational role the manufacturing sector plays in our nation’s economy, it is deeply concerning that at a time when jobs are in such high demand nationwide, the number of vacant entry-level manufacturing positions continues to grow.”

Most of these open positions are for machine operators, the employees who work the machines that mold, stamp and assemble components for every product we buy. Without operators, these simple plastic and glass parts cannot be made. Without those components, entire factories sit idle.

Jordan Kretchmer, CEO of Rapid Robotics, says: “We hear a lot about the semiconductor shortage, but that’s just the tip of the iceberg. Contract manufacturers can’t produce gaskets, vials, labels – you name it. I’ve seen cases where the inability to produce a single piece of U-shaped black plastic brought an entire auto line to a halt.”

Rapid’s solution is the Rapid Machine Operator (RMO), the world’s first cobot specially designed and priced for machine operation. Previous robotics solutions were too expensive for machine-tending tasks. Between hardware, software, integration and maintenance, they wound up costing more than they saved.

The Rapid Robotics RMO, by contrast, arrives trained and ready to perform the most common machine-tending tasks.

Rapid’s RMO comes with all necessary components, including grippers and computer vision, can be put to work in hours (typical robotics solutions take weeks or even months) and can be easily transferred between tasks as needed, no retraining necessary.

With Rapid’s OpEx-friendly subscription model, factories can “hire” an RMO for less than $2,100 per month, a small fraction of the cost of conventional robotics, bringing automation within reach of manufacturers of all sizes.

Griffin Schroeder, partner, Tiger Global, says: “Until now, only the largest facilities could benefit from robotic automation.

“But most manufacturing in America is done in smaller factories, which have been deeply challenged by the machine operator shortage. For them, the Rapid Machine Operator provides the additional support they need to thrive.”

Manufacturers appreciate how the Rapid Machine Operator delivers positive ROI from day-one, but the value for regional producers goes far beyond that, said Rapid Robotics Midwest GM Aaron Halonen, an auto-industry veteran with decades of experience in design, engineering and quality control.

Halonen says: “Factories around here are in a tough spot.

“Without a way to work their machines, they can’t bid on jobs. No bidding means no business. No business means no revenue, obviously. But it also means no hiring or upskilling in other positions. It has a ripple effect on the entire economy.”

“I had one factory manager grab me on my way out. He said, ‘You know, we were going to manufacture these parts in Mexico, but with the RMO I think we don’t have to,’” he added.

It’s not just the auto industry either. Manufacturers across America are racing to put Rapid’s RMOs in place. Next-generation healthcare infrastructure company Truepill has hired RMOs at its Hayward, California facility to fill and label prescription vials.

Matthew Alley, head of fulfillment and supply chain at Truepill, says: “At Truepill, we work behind the scenes to help companies build and power more advanced, efficient and automation-driven pharmacies, fulfilling up to 100,000 prescriptions per day and creating customized, white-labeled experiences delivered directly to consumers’ doors.

“Rapid is helping us further scale these fulfillment capabilities by providing RMOs that are easy to set up and integrate seamlessly with our staff.”

Wen Hsieh, general partner at Kleiner Perkins, says: “With the RMO, Rapid Robotics has come up with the right product at the right time.

“Rapid Robotics pinpointed an urgent problem in a multi-billion-dollar industry and solved it in a matter of months. They’ve found the perfect balance of innovation, affordability and ease of implementation and use.”

Kretchmer says: “Since we launched the RMO I’ve been meeting several manufacturers a week, and it’s clear to me that in every part of the country, this industry is ready for a comeback.

“With the RMO, our customers are ramping up, winning deals and hiring staff. Together, we’re bringing back American manufacturing one machine at a time.”

Print Friendly, PDF & Email

Share this:

  • Print
  • Facebook
  • LinkedIn
  • Reddit
  • Twitter
  • Tumblr
  • Pinterest
  • Skype
  • WhatsApp
  • Telegram
  • Pocket

You might also like…

Filed Under: Industrial robots, News Tagged With: machine, manufacturers, manufacturing, operator, rapid, rmo, robotics

Join the Robotics & Automation News community

Reader Interactions

You must log in to post a comment.

Primary Sidebar

Latest articles

  • Exotec seeing ‘rapid growth and strong demand’ for its warehouse robots
  • Robotize to launch new robot and mobile lift staton at LogiMAT
  • The Impact of Automation on Digital Marketing: 5 Key Areas
  • Big Joe Forklifts launches autonomous pallet mover in partnership with Thoro.ai
  • Wingtra lands $22 million funding round for its commercial drones
  • DeepRoute.ai launches $1,000 ‘map-free’ self-driving solution
  • MobileDrive builds next generation ADAS with Siemens’ digital twin technology
  • Seegrid releases software to enable its warehouse robots to work together
  • Ambi Robotics unveils fleet management and business intelligence platform
  • Geodis almost doubles case picking throughput with Vecna Robotics solution

Most Read

  • Stiga launches ‘world’s smartest’ autonomous lawn mower
    Stiga launches ‘world’s smartest’ autonomous lawn mower
  • Top 20 electric vehicle charging station companies
    Top 20 electric vehicle charging station companies
  • Difference Between Three-Phase and Single-Phase Power
    Difference Between Three-Phase and Single-Phase Power
  • Scientists have found more water in space than they ever knew possible
    Scientists have found more water in space than they ever knew possible
  • Top 20 programmable logic controller manufacturers
    Top 20 programmable logic controller manufacturers
  • Indian startup Unbox Robotics launches sortation robots in the US
    Indian startup Unbox Robotics launches sortation robots in the US
  • MobileDrive builds next generation ADAS with Siemens’ digital twin technology
    MobileDrive builds next generation ADAS with Siemens’ digital twin technology
  • DeepRoute.ai launches $1,000 ‘map-free’ self-driving solution
    DeepRoute.ai launches $1,000 ‘map-free’ self-driving solution
  • What You Need to Know About Fixing an Engine Misfire
    What You Need to Know About Fixing an Engine Misfire
  • The Best Mechanical Engineering Design Software in 2022
    The Best Mechanical Engineering Design Software in 2022

Overused words

ai applications automated automation automotive autonomous business companies company control customers data design development digital electric global industrial industry logistics machine manufacturing market mobile operations platform process production robot robotic robotics robots safety software solution solutions system systems technologies technology time vehicle vehicles warehouse work

Secondary Sidebar

Latest news

  • Exotec seeing ‘rapid growth and strong demand’ for its warehouse robots
  • Robotize to launch new robot and mobile lift staton at LogiMAT
  • The Impact of Automation on Digital Marketing: 5 Key Areas
  • Big Joe Forklifts launches autonomous pallet mover in partnership with Thoro.ai
  • Wingtra lands $22 million funding round for its commercial drones
  • DeepRoute.ai launches $1,000 ‘map-free’ self-driving solution
  • MobileDrive builds next generation ADAS with Siemens’ digital twin technology
  • Seegrid releases software to enable its warehouse robots to work together
  • Ambi Robotics unveils fleet management and business intelligence platform
  • Geodis almost doubles case picking throughput with Vecna Robotics solution

Footer

We are…

Robotics and Automation News was established in May, 2015, and is now one of the most widely-read websites in its category.

Please consider supporting us by becoming a paying subscriber, or through advertising and sponsorships, or by purchasing products and services through our shop – or a combination of all of the above.

Thank you.

Independent

Archivists

August 2021
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031  
« Jul   Sep »

Complex

Old-skool

This website and its associated magazine, and weekly newsletter, are all produced by a small team of experienced journalists and media professionals.

If you have any suggestions or comments, feel free to contact us at any of the email addresses on our contact page.

We’d be happy to hear from you, and will always reply as soon as possible.

Future-facing

Free, fair and legal

We support the principles of net neutrality and equal opportunities.

Member of The Internet Defense League

Copyright © 2023 · News Pro on Genesis Framework · WordPress · Log in

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT