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Cyngn raises $33 million in December to scale autonomous mobile robot business

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Autonomous mobile robotics developer Cyngn has secured $33 million in funding. This funding positions the company to accelerate its growth and deliver on its mission to proliferate industrial autonomous vehicles.

Lior Tal, chairman and CEO of Cyngn, says: “This capital infusion strengthens our ability to fund operations, drive commercialization, and continue investing in groundbreaking autonomous vehicle technologies.

“With increasing demand for automation solutions, especially in the automotive, heavy machinery and logistics industries, this funding allows us to build on recent momentum, including our upcoming autonomous forklift launch and other strategic advancements.” [Read more…] about Cyngn raises $33 million in December to scale autonomous mobile robot business

How to Allocate the Right Funds for IT Infrastructure?

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IT infrastructure implementation and management are made possible in large part by budgeting.

Estimating and distributing money is part of the process of buying, maintaining, and updating different IT components like networks, hardware, software, and data centers.

To optimize the worth of IT infrastructure expenditures, this paper covers how to assess cost-effectiveness, prioritize investments, and match your IT expenditures with business goals. [Read more…] about How to Allocate the Right Funds for IT Infrastructure?

Nauticus Robotics raises $12 million in new investment

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Nauticus Robotics, a developer of subsea robots and software, has raised an additional $12 million as part of a second tranche of investment.

The new investment will expedite certification of Nauticus’ flagship robot, the Aquanaut, which facilitates the transformation of tethered ROV (remotely operated vehicle) operations to fully autonomous operations.

It is expected to perform numerous tasks in water depths ranging from 200 to 2,000+ meters during February in preparation for an inaugural job inspecting a deep-water production facility of a major oil and gas company in the Gulf of Mexico. [Read more…] about Nauticus Robotics raises $12 million in new investment

Serve Robotics raises $30 million financing to scale robotic delivery

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Serve Robotics, a developer of autonomous sidewalk delivery robots, has raised another $30 million in financing, bringing the company’s total funds raised to over $56 million.

Concurrent with the raise of new capital and conversion of existing convertible notes, Serve also completed a reverse merger with Patricia Acquisition, a public Delaware corporation, whereby Serve became a wholly owned subsidiary of Patricia.

Following the transaction, Patricia changed its name to Serve Robotics and will continue the historic business of Serve. [Read more…] about Serve Robotics raises $30 million financing to scale robotic delivery

Employee management software provider Rippling raises $500 million in Series E financing

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By Parker Conrad, CEO, Rippling

Rippling, a provider of automated software for employee management, has raised $500 million in a round led by Greenoaks. The round values the company at $11.25 billion, the same as the company’s Series D financing in May 2022.

This was an unusual round, raised in record time and for a purpose that ultimately resolved on its own. It all started on Friday, March 10th at 5.30 am PST.

Rippling’s primary banking partner, Silicon Valley Bank (SVB), collapsed with dizzying speed on Thursday, March 9, and entered FDIC receivership on Friday, March 10. [Read more…] about Employee management software provider Rippling raises $500 million in Series E financing

Digital manufacturing startup Bright Machines raises $132 million in new funding

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Bright Machines, a startup which describes itself as “an innovator in software-defined manufacturing”, has raised $132 million in debt and Series B equity funding.

The equity portion of the funding, worth $100 million, was led by Eclipse Ventures. The debt portion of the funding, worth $32 million, was led by Silicon Valley Bank, and Hercules Capital.

Bright Machines intends to use the funds to accelerate the company’s growth, which includes continued expansion into high-demand industry verticals, and the development of new software and service offerings to complement its existing portfolio of products. [Read more…] about Digital manufacturing startup Bright Machines raises $132 million in new funding

Doosan Robotics breaks South Korean record with annual sales of more than 1,000 collaborative robots

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Doosan Robotics announced it has become South Korea’s first to achieve an annual sales record of 1,000 units for collaborative robots, also known as “cobots”.

Established in 2015, Doosan Robotics has manufactured cobots using proprietary technology and has maintained the position of number one market share holder in Korea since 2018.

Doosan Robotics has also performed remarkably in global markets, becoming the first Korean company to be named as one of world’s top five cobot manufacturers. [Read more…] about Doosan Robotics breaks South Korean record with annual sales of more than 1,000 collaborative robots

Apex.AI raises $56.5 million in Series B fundraising round

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Apex.AI, a company developing breakthrough safety-certified software for mobility and autonomous applications, has raised $56.5 million in a Series B fundraising round, bringing the total raised to date to $74 million.

The Series B round was led by Orillion, and included new participation from ZF, Continental, AGCO, Canaan, Lightspeed Venture Partners, Airbus Ventures, Jaguar Land Rover’s InMotion Ventures and others.

Other investments previously announced include Volvo Group Venture Capital, Toyota Ventures and HELLA Ventures, which further form Apex.AI’s world-class group of investors. [Read more…] about Apex.AI raises $56.5 million in Series B fundraising round

5 Ways Automating the Manufacturing Process can Save you Money

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When technological advancements began, the global population worried that it would eliminate the need for employees. That being true, it also brought along easy ways of production and reduction of operational costs.

Manufacturing is an industry that is growing fast and becoming more competitive. Manufacturers keep an eye out for methods that accelerate production, lower costs, and maintain quality.

Automating the manufacturing process can save you business funds in the following ways. [Read more…] about 5 Ways Automating the Manufacturing Process can Save you Money