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Sole Source Capital raises $555 million for second fund

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Sole Source Capital, an industrial-focused private equity firm, has closed its second fund, SSC Partners II or “Fund II”, with aggregate total commitments of $555 million.

Fund II was significantly oversubscribed with an initial target of $400 million and reached its hard cap. With the closing of Fund II, Sole Source Capital now manages in excess of $1 billion just three years after the launch of Fund I.

Since 2016, Sole Source has completed 24 transactions focusing on driving rapid value creation in lower middle market companies. [Read more…] about Sole Source Capital raises $555 million for second fund

Activ Surgical secures $45 million in Series B funding led by Cota Capital

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Activ Surgical, a digital surgery pioneer, has raised $45 million in a Series B financing round. The Series B round was led by Cota Capital, a multi-stage investment firm focused on private and public modern enterprise technology companies.

Seven new investors, including BAM Funds, Magnetar Capital, Mint Ventures, Castor Ventures, Dream One Vision and Nvidia, join existing investors DNS Capital,Tao Capital Partners, LRVHealth, Rising Tide VC, GreatPoint Ventures and ARTIS Ventures to close out the Series B round of financing.

To date, Activ Surgical has raised a total of $77 million. [Read more…] about Activ Surgical secures $45 million in Series B funding led by Cota Capital

Warehouse robotics startup Hai Robotics raises $200 million in funding

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Hai Robotics, a Chinese warehouse robotics startup pioneering in autonomous case-handling robotics system, has secured two new continuous rounds of financing, generating more than $200 million in total.

The new money is to be invested in boosting Hai’s robot fleet with technological upgrades, expanding its global operation networks, optimizing its supply chain management and corporate structure as well as talent.

The C round funding was led by 5Y Capital with participation from Sequoia Capital China, Source Code Capital, VMS, Walden International and Scheme Capital. [Read more…] about Warehouse robotics startup Hai Robotics raises $200 million in funding

Agricultural technology startup Carbon Robotics raises $27 million in new funding

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Carbon Robotics, an agriculture robotics company, has secured $27 million in Series B financing from Anthos Capital, Ignition Capital, Fuse Venture Partners and Voyager Capital to accelerate the company’s growth.

The funding will be used to scale production of the company’s products, including the Autonomous Weeder, grow its engineering team, establish regional support for customers across the US and invest in the innovation of new products and technology.

This latest round of financing brings the company’s overall funding to $36 million. [Read more…] about Agricultural technology startup Carbon Robotics raises $27 million in new funding

Noyes Technologies secures $3.8 million to ‘revolutionize’ automation of urban storage areas with robotized nano warehouses

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Noyes Technologies, provider of a flexible robotic warehousing solution designed for urban use, has completed a seed investment round of $3.8 million, led by Vsquared Ventures, and joined by 468 Capital and the Abacon Capital.

The way of consuming is changing rapidly. Customers are requesting ever speedier delivery times but storage spaces close to the customer, especially in the urban landscape, are scarce and costly.

By providing a unique solution ahead of market demand and empowering the delivery and quick commerce market on the journey to profitability, Noyes Technologies is the enabler for urban living and dynamic consumer behavior. [Read more…] about Noyes Technologies secures $3.8 million to ‘revolutionize’ automation of urban storage areas with robotized nano warehouses

Sole Source Capital portfolio company Supply Chain Services acquires ISG Technologies

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Sole Source Capital, an industrial-focused private equity firm, says its portfolio company Supply Chain Services, a provider of automatic identification and data capture and factory automation solutions to customers across North America, has acquired ISG Technologies.

The acquisition of ISG Technologies adds to Supply Chain Service’s product line and expands its geographic reach into Texas.

This is the fourth add-on transaction supported by Sole Source Capital, following the purchases of Dasco Label, Miles Data and Coridian since Supply Chain Services was acquired in May 2020. Terms of the ISG Technologies transaction were not disclosed. [Read more…] about Sole Source Capital portfolio company Supply Chain Services acquires ISG Technologies

Scythe Robotics launches with $18.6 million funding to ‘transform commercial landscaping with autonomous mower’

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Scythe Robotics, a builder of commercial-grade autonomous robotic solutions for the landscaping industry, has emerged from stealth with its first offering: an all-electric, fully autonomous mower, designed completely in-house to be “the most advanced, reliable, and sustainable commercial-grade mower in the industry”.

Scythe has also completed its $13.8 million in Series A funding led by Inspired Capital with participation from existing investors True Ventures, Zigg Capital, and Lemnos, bringing the company’s total funding to $18.6 million.

The new investment will be used to grow the company’s existing operations in Texas, Florida and Colorado, expand with new customers, and accelerate development of further products to revolutionize how commercial landscape contractors care for outdoor environments. [Read more…] about Scythe Robotics launches with $18.6 million funding to ‘transform commercial landscaping with autonomous mower’

Toyota’s Woven Capital invests in autonomous vehicle fleet platform Ridecell

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Woven Capital, a venture capital unit of Toyota, has made an investment in Ridecell, a platform powering digital transformations and IoT automation for fleet-driven businesses.

Woven Capital is an $800 million global investment fund that supports innovative, growth-stage companies in mobility, automation, artificial intelligence, data and analytics, connectivity, and smart cities.

It is the investment arm of the Woven Planet Group, a Toyota subsidiary which says it is “dedicated to building the safest mobility in the world”. [Read more…] about Toyota’s Woven Capital invests in autonomous vehicle fleet platform Ridecell

Beep secures $20 million Series-A investment from Intel and Blue Lagoon

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Beep, a provider of multi-passenger, electric, autonomous mobility solutions, has closed the company’s Series A investment round with Intel Capital and Blue Lagoon Capital, raising $20 million.

The funding will enable Beep to continue the expansion of its autonomous fleet deployments across North America and leverage its learnings to advance passenger mobility service for cities, business districts and campuses at scale.

Beep utilizes a combination of machine learning, contextual traffic data and the company’s existing centralized command center data to provide vital oversight in managing high-risk scenarios for autonomous vehicles in complex geo-fenced environments. [Read more…] about Beep secures $20 million Series-A investment from Intel and Blue Lagoon

Path Robotics raises $56 million to ‘lead American manufacturing into the future’

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Path Robotics, the Columbus, Ohio-based artificial intelligence and robotics company responsible for designing “the world’s first truly autonomous robotic welding system”, has received $56 million dollars in Series B funding, bringing the total invested in the company to $71 million.

Investment company Addition led the round and was joined by returning investors Drive Capital, Basis Set, and Lemnos Lab.

Lee Fixel of Addition says: “Path Robotics is solving a complex and critical problem in our country by bridging the gap between the supply of skilled welders and demand. [Read more…] about Path Robotics raises $56 million to ‘lead American manufacturing into the future’

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