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Bobacino launches robotic tea bar

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A startup company called Bobacino has launched its automated Boba Tea Bar, which uses a robotic arm to make beverages for customers. (See video below.)

Bobacino says it is bringing the “unique boba tea experience” to a growing audience of boba aficionados and new enthusiasts through advanced artificial intelligence, automation and robotics.

The company has launched on StartEngine, a crowdfunding platform, to target a market that it forecasts is set to hit $8.4 billion by 2024. [Read more…] about Bobacino launches robotic tea bar

40 North Ventures acquires 11 companies from GE Ventures

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40 North Ventures, an early-to-growth stage venture capital fund focused on technology investments in the industrial sector, has acquired investments in 11 companies from GE Ventures.

Although 40 North Ventures is not disclosing the value of this deal, the fund raised $200 million last year. This was in part utilized for the acquisition from GE Ventures, as well as four prior investments, according to a spokesperson.

The 11 new portfolio companies are aligned with 40 North Ventures’ focus on technology and business model innovation, adding to its growing portfolio of high-performance companies building the industrial future. [Read more…] about 40 North Ventures acquires 11 companies from GE Ventures

EU member states agree €750 billion post-pandemic recovery fund

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Member states of the European Union have agreed a €750 billion recovery fund in the wake of the coronavirus pandemic, which has all but destroyed large parts of the economy in many countries.

The agreement was reached during a four-day summit meeting in Brussels, Belgium between the leaders of the 27 member nations.

Charles Michel, chairman of the summit, called the accord “a pivotal moment for Europe”, according to a report by Reuters. [Read more…] about EU member states agree €750 billion post-pandemic recovery fund

What does the term ‘productivity’ actually mean in economics?

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Here at Robotics and Automation News, we’ve often wondered what factors determine the productivity of a nation or industry, market or economy. There is a reason for this that has to with our website’s editorial subject matter and possibly our survival as a business.

In other words, we would like to expand our editorial coverage, and we would like to monetise. Our website has millions of readers, a significant proportion of whom are business people, so we have a marketable audience.

So far, we have mostly carried niche industrial news. Now, we want to add to that broader, global industry-wide and indeed world economy-wide, perspectives that may affect their growth and success. [Read more…] about What does the term ‘productivity’ actually mean in economics?

HRG Robotics holds its first startup competition

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HRG Robotics has held its first startup competition, attracting more than 50 investment and technology companies and organisations.

The company says it wants to provide a platform to support innovation and startups.

HRG says startup competitions help connect companies of “great potential” within HRG system with top venture capitalists. [Read more…] about HRG Robotics holds its first startup competition

Geek+ raises more than $200 million in latest funding round

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Geek+, a global provider of advanced robotics for logistics, has closed its Series C funding round at over $200 million in early 2020.

Geek+ continues to lead the industry with the largest fundraising to date, following a $150 million B series in November 2018, already the largest in the industry.

C1 was led by GGV Capital, D1 Capital Partners along with Warburg Pincus in Summer 2019, while C2, finalized earlier this year, was led by V Fund, along with Redview Capital and Vertex Ventures. [Read more…] about Geek+ raises more than $200 million in latest funding round

Engineering procurement platform Kreatize enters new market with Austrian investors

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Kreatize, which claims to be Germany’s largest procurement platform for mechanical engineering, has received a joint investment from Austrian company B&C Innovation Investments (BCII) and the industrialist Martin Ohneberg.

Kreatize says the new investment – which is described as being in the “mid single-digit million” euro range  – will enable it to expand its business in Austria.

The procurement of industrial components is often a costly, lengthy and non-transparent process. [Read more…] about Engineering procurement platform Kreatize enters new market with Austrian investors

Dexai Robotics raises $5.5 million to develop commercial kitchen automation solutions

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Dexai Robotics, an artificial intelligence and robotics company focused on commercial kitchen automation, says it has raised $5.5 million in an oversubscribed seed round, led by Hyperplane Venture Capital.

New investors Rho Capital, Harlem Capital, Contour Venture Partners, and NextView Ventures also participated in this financing round. Vivjan Myrto, a managing partner at Hyperplane, joined Dexai’s board of directors.

The company will use the funding to expand its engineering, sales, and product teams, allowing it to serve new cuisines and fuel its growth in the foodservice space. [Read more…] about Dexai Robotics raises $5.5 million to develop commercial kitchen automation solutions

Fabric raises $110 million in new investment round backed by Kraft Heinz

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On-demand fulfillment services startup Fabric has raised an additional investment to its Series B round from Evolv Ventures, the investment arm of Kraft Heinz, one of the largest global food and beverage companies in the world.

Led by a team of food, startup, and venture capital veterans, Evolv Ventures is focused on strategic investments in emerging technologies across the food value chain.

Their undisclosed additional investment to the $110 million-dollar round is a resounding vote of confidence from a leading food tech investor and the iconic food company. [Read more…] about Fabric raises $110 million in new investment round backed by Kraft Heinz

Amazon signs up Balyo to provide robotic solutions

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French robotics software startup Balyo has signed a seven-year commercial agreement with Amazon on robotic solutions.

Balyo says the deal is a “decisive step” in its development, and supports the added value of its robotic solutions and will potentially boost their deployment.

Under the agreement, Amazon would obtain the right to subscribe up to 29 per cent of Balyo’s capital depending on the level of potential future orders by Amazon up to €300 million. [Read more…] about Amazon signs up Balyo to provide robotic solutions

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