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Saudi Arabia invests in automated construction startup GMT Robotics

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NEOM, the sustainable region taking shape in northwest Saudi Arabia, has signed a landmark investment agreement with GMT Robotics, one of Europe’s emerging innovators in advanced construction technology.

Led by NEOM’s strategic investment arm, NEOM Investment Fund (NIF), the investment will accelerate the delivery of the region’s expansive capital project program through construction robotics, while underpinning NEOM as an innovator in modern construction techniques, including automation.

Majid Mufti, CEO of NEOM Investment Fund, says: “Our investment in GMT Robotics reflects NEOM’s commitment to driving transformative technologies that will unlock next-generation industries. [Read more…] about Saudi Arabia invests in automated construction startup GMT Robotics

Seasony raises €1.5 million to bring mobile robot to more vertical farms across Europe and Middle East

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Seasony, a provider of mobile robotics for vertical farming, has closed its latest funding round, securing €1.5 million in investment from a group of high-profile investors.

The round was led by North Ventures and EFIO (Export and Investment Fund of Denmark). Alongside them several prominent and experienced business angels invested including Vagn Ove Soerensen, Torben Wind, Klaus Holse, Barbara Taudorf Andersen, Nicolaj Reffstrup (Look Up Ventures) and many more.

This funding milestone will propel Seasony forward in its mission to make indoor farming more scalable, profitable, and sustainable through cutting-edge mobile robotics technology. The funds allow Seasony to accelerate its product development and expand towards key markets in the Middle East and North America. [Read more…] about Seasony raises €1.5 million to bring mobile robot to more vertical farms across Europe and Middle East

Augmentus raises $5 million to expand ‘no-code robotics’ offering

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Augmentus, a developer of “no-code” robotics software, has successfully raised $5 million in Series A funding. The round was led by Sierra Ventures, along with Cocoon Capital.

Conventional robot programming is fragmented and costly, requiring extensive training and expertise due to proprietary programming languages. This results in 75 percent of lifetime costs being attributed to software and programming.

The industrial robotics software market is expected to reach $47 billion by 2030, growing at a compound annual growth rate of 27 percent. Augmentus aims to disrupt this market. [Read more…] about Augmentus raises $5 million to expand ‘no-code robotics’ offering

‘First-of-its-kind’ $50 million fund launches for early-stage robotics, automation, and AI companies

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Cybernetix Ventures, an independent venture capital firm investing in early-stage robotics, automation and AI technology companies, today announced the launch of its first global fund headquartered in Boston, Massachusetts.

Cybernetix Fund I will focus on pre-seed, seed and Series A investments into companies in the US and around the world developing robotics solutions for manufacturing, logistics, construction, and healthcare verticals.

The fund will also invest in key robotics-enabling software companies in AI/machine learning, cloud robotics, cybersecurity, autonomy and sensors/edge computing. [Read more…] about ‘First-of-its-kind’ $50 million fund launches for early-stage robotics, automation, and AI companies

Amazon launches $1 billion industrial innovation fund

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Amazon is investing $1 billion into the industrial sector to “spur supply chain, fulfillment, and logistics innovation and further improve the customer and employee experience”.

The $1 billion venture investment program is called the Amazon Industrial Innovation Fund (AIIF).

As customers increasingly shop online and look for even faster delivery, Amazon says it is continuing to invent new ways to raise the bar on customer and employee experience while working with other companies focused on those fields. [Read more…] about Amazon launches $1 billion industrial innovation fund

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

MTS AI Center launches $100 million artificial intelligence fund and global accelerator

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MTS AI Center, an international AI subsidiary of Russia’s largest telecom operator MTS, which is dual listed on the New York Stock Exchange and the Moscow Exchange, has launched a $100 million AI fund and accelerator to “spearhead the development and commercialization of AI solutions and promising AI start-ups across Asia, Europe and North America”.

The VC fund and accelerator platform, Intelligent Machines (Intema), will focus on supporting artificial intelligence start-ups with smart money: financial support, deep technical and business expertise, access to computing power and networking, leveraging its world-class AI experts and the established position of its parent company MTS, a leading multinational with expertise in telecoms, fintech, cloud technology, Big Data, and AI.

Over the next three years, the MTS AI Center will invest more than $100 million in AI start-ups via a venture fund that will invest up to $20 million in individual projects and companies, and a start-up accelerator that will invest up to $100,000 per project. [Read more…] about MTS AI Center launches $100 million artificial intelligence fund and global accelerator

Tau invents wire that doubles the power of electric motors and raises €10.25 million

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A startup company called Tau, which specializes in materials science and automotive electrification, says it has delivered a prototype wire that enables electric motors to double their power output without changing their size. 

The technology could mean that electric vehicles and machines of all kinds can keep going for longer on a single charge, and go faster.

Coinciding with the milestone of delivering prototype winding wire to the automotive industry, Tau also concluded its Series A financing round with additional funding from Finindus, a Belgium-based investment company financed by ArcelorMittal and the Flemish Region, and a top-up by German specialty chemicals company Altana. The total raised is said to be €10.25 million. [Read more…] about Tau invents wire that doubles the power of electric motors and raises €10.25 million

Semiconductor Industry Association to discuss global chip shortage with US government

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The Semiconductor Industry Association (SIA) is to meet with officials in the administration of newly elected president of the United States, Joe Biden, to discuss the ongoing global shortage in chips, which is affecting many areas of manufacturing and the wider economy.

The SIA released a statement from its president and CEO, John Neuffer, welcoming the upcoming meeting at the White House between Biden Administration officials and leaders from the semiconductor industry and other sectors to discuss the global chip shortage, President Biden’s infrastructure plan, and other issues related to the semiconductor supply chain.

In the statement, Neuffer says: “We welcome this high-level engagement between the White House and industry leaders and see it as an important opportunity for a discussion on the need to fund investments in domestic semiconductor manufacturing and research to help ensure the long-term strength and resilience of America’s semiconductor supply chain.” [Read more…] about Semiconductor Industry Association to discuss global chip shortage with US government

Toyota-backed investment fund Woven Capital buys stake in Nuro

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Woven Capital, an $800 million global investment fund established by the Toyota Research Institute, has made an equity investment in Nuro, a robotics company developing autonomous delivery vehicles.

The investment is part of Nuro’s Series C round of funding, advancing its work in designing and engineering self-driving road vehicles to transform local commerce through autonomous delivery.

The exact amount of the investment has not been made public. [Read more…] about Toyota-backed investment fund Woven Capital buys stake in Nuro