Robotics & Automation News

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financing

GreyOrange raises $110 million for ‘growth financing’

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GreyOrange, a robotic fulfillment company, has raised $110 million in “comprehensive growth financing”, a majority of which came from Mithril Capital Management and a group of current and new investors, along with separate financing provided by funds and accounts under management by BlackRock.

The growth financing underscores GreyOrange’s technical leadership in a fundamental market shift to robot-enabled automated fulfillment solutions.

GreyOrange reduces operating costs and expedites delivery for global retail industry leaders including Walmart, H&M, COS, Coupang and GXO Logistics. [Read more…] about GreyOrange raises $110 million for ‘growth financing’

Autonomous driving systems developer Pony.ai valued at $8.5 billion after latest funding round

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Pony.ai, a developer of autonomous driving technology, has completed its first close of its Series D financing.

The Series D round, which has a significant valuation uplift from the 2020 C and C+ rounds, is a recognition by investors of Pony.ai’s achieved technical milestones and significant progress toward a commercialized robotaxi and robotruck product.

The proceeds from the funding will be used to further augment Pony.ai’s hiring, investment in research and development, global testing of robotaxi and robotrucking on an ever-growing fleet, enter into important strategic partnerships, and accelerate our development toward mass production and mass commercial deployment. [Read more…] about Autonomous driving systems developer Pony.ai valued at $8.5 billion after latest funding round

Blockchain and Smart Contracts Have German Auto Dealers on the Fast Track to Financing

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ChinaTechNews reports on April 4 that German auto dealers are using the Ethereum blockchain to get around bank bureaucracy, speeding up dealer credit applications.

German car dealers and distributors have found a new use for blockchains – acquiring and financing their customers quickly and with less paperwork than traditional bank loans.

Using Ethereum smart contracts – computer protocols that facilitate, verify or enforce the negotiation of an agreement – dealerships can provide their clients with immediate access to fiat currencies through dealer credit applications. [Read more…] about Blockchain and Smart Contracts Have German Auto Dealers on the Fast Track to Financing

Baidu’s autonomous electric carmaker Jidu raises $400 million in Series A financing

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Baidu’s intelligent electric vehicle arm Jidu has closed its Series A financing, raising nearly $400 million.

This round of financing was backed by Baidu and its strategic partner multinational auto manufacturer Zhejiang Geely Holding Group.

With the completion of financing, Jidu is set to continue accelerating the progress in R&D and achieving mass production. [Read more…] about Baidu’s autonomous electric carmaker Jidu raises $400 million in Series A financing

Specialist ‘robotics-as-a-service’ startup lets manufacturers ‘hire’ popular robots at ‘low hourly rate’

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A new robotics-as-a-service company Formic Technologies has launched with a simple value proposition: hire fully customized robots from top vendors at a “low hourly rate and no upfront cost”.

To help small and medium-size manufacturers benefit from automation, Formic handles every aspect of a financing and implementation – from scoping, engineering, purchasing, implementation, and maintenance. The company also guarantees uptime, with customers paying nothing for system downtime.

Traditionally, manufacturers buy robots, which is a lengthy, complex, inflexible, and expensive process. These barriers to entry are so high for smaller manufacturers that they often refrain from implementing automation altogether. [Read more…] about Specialist ‘robotics-as-a-service’ startup lets manufacturers ‘hire’ popular robots at ‘low hourly rate’

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

Deutsche Bahn invests in Gideon Brothers 
in $32 million financing round

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Gideon Brothers, a robotics and AI solutions company, has received a new investment from Deutsche Bahn Digital Ventures, the venture capital arm of Deutsche Bahn Group, as part of the recent Series A financing round led by Koch Disruptive Technologies valued at $32 million.

The Series A investment will accelerate the development and commercialization of Gideon Brothers’ AI and 3D vision-based autonomous mobile robots that automate horizontal and vertical material handling operations.

The company is also expanding its manufacturing, sales, customer success, and marketing operations across key markets of the EU and United States, by opening offices in Munich, Germany and Boston, Massachusetts. [Read more…] about Deutsche Bahn invests in Gideon Brothers 
in $32 million financing round

ANYbotics raises $23 million in Series A funding

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ANYbotics, a maker of four-legged robots, has raised CHF20 million ($23 million) in its Series A financing round led by Swisscom Ventures.

The startup says the funding will serve to accelerate the commercialization of its autonomous robots for industrial inspection applications.

ANYbotics enhances safety and productivity in industrial operations through autonomous mobile robots capable of navigating complex environments. [Read more…] about ANYbotics raises $23 million in Series A funding

Oqton raises over $40 million investment for its digital manufacturing platform

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Oqton, an American-Belgian software company specialising in artificial intelligence-powered solutions for the manufacturing industry, has raised more than $40 million in a Series A financing round, led by Fortino Capital, a leading B2B software investor, by PMV, the regional Flemish investment fund, and by Sandvik, a global engineering group.

The founding team – Samir Hanna and Ben Schrauwen – and several angel investors, including Carl Bass, who is the former CEO Autodesk, Dries Buytaert, of Drupal and Acquia, and Peter Mercelis, of Layerwise, also participated in the round.

The financing will be used to further develop its platform, while expanding its commercial partnerships in multiple domains and verticals, including additive manufacturing, robotic welding, and CNC machining. [Read more…] about Oqton raises over $40 million investment for its digital manufacturing platform

Robotics one of the hottest investment sectors of the decade, says Silicon Valley Bank report

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Entrepreneurs have invested more money in robotics than all other sectors combined, according to a new report by Silicon Valley Bank.

In a report called The Future of Robotics, SVB says: “Investment in robotics has significantly outpaced the rest of venture (financing), making robotics one of the hottest sectors of the decade.”

SVB’s data shows that robotics venture capital funding represented 55 percent of all venture financing (see bar chart below). [Read more…] about Robotics one of the hottest investment sectors of the decade, says Silicon Valley Bank report