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STIHL acquires stake in line-marking robot maker TinyMobileRobots

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German industrial group STIHL, a manufacturer of chainsaw power tools, forestry machinery and robotic lawn mowers, has made a significant investment in the Danish robotics company, TinyMobileRobots.

STIHL says its robotic lawn mowers “share a strong technical kinship” with the advanced and fully autonomous line-marking robots produced by TinyMobileRobots, which are intended for use in sports fields, road construction, agriculture and other sectors.

STIHL Group has been closely following TinyMobileRobots’ rapid international growth in recent years, as the company has doubled in size each year. [Read more…] about STIHL acquires stake in line-marking robot maker TinyMobileRobots

Universal Robots reports record revenue of $311 million

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Universal Robots, the Danish producer of collaborative robots, has reported record annual revenue of $311 million, 41 percent up on 2020 and 23 percent up on pre-pandemic results in 2019.

Kim Povlsen, the company’s president, says: “Universal Robots has had a great year. In a company like ours, which manufactures sophisticated hardware to high quality standards, this sort of growth requires tremendous commitment from all involved.

“Our production team in Denmark has broken internal records for the number of cobots built, producing 400 cobots in a single week in Q4. Our supply chain experts have worked hard to keep our business running smoothly despite global supply challenges.” [Read more…] about Universal Robots reports record revenue of $311 million

India’s richest man spends $132 million buying majority stake in robotics company

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India’s richest man, Mukesh Ambani, has bought the majority stake – 54 percent – in a robotics company called Addverb Technologies through his Reliance Industries conglomerate.

Addverb Technologies is a warehouse automation company, mainly in the intralogistics space, providing autonomous mobile robots and other systems, and was already working with Reliance Industries.

The purchase of the shares took place during the startup’s latest funding round. [Read more…] about India’s richest man spends $132 million buying majority stake in robotics company

Arsenal Capital Partners acquires automation solutions provider Eckhart from LFM Capital

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Arsenal Capital Partners, a private equity firm that specializes in investments in industrial growth and healthcare companies, has acquired automation solutions provider Eckhart from LFM Capital.

Financial terms of the transaction were not disclosed.

Eckhart’s advanced engineering, design, simulation, and integration services, along with proprietary tooling and other automation and robotics systems, support customers at critical points in the automation value chain. [Read more…] about Arsenal Capital Partners acquires automation solutions provider Eckhart from LFM Capital

Exotec raises $335 million in Series D funding for its warehouse robots

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Exotec, a warehouse robotics startup, has raised $335 million in Series D funding, and is now valued at $2 billion.

The Growth Equity business within Goldman Sachs Asset Management led the round with follow-on investments from 83North and Dell Technologies Capital.

Exotec says it will use the funds to continue to launch large-scale deployments in North America, Europe, and Asia for global brands. [Read more…] about Exotec raises $335 million in Series D funding for its warehouse robots

Sesto Robotics raises $5.7 million for its autonomous mobile robots

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Sesto Robotics, a Singapore-based autonomous mobile robotics company, has raised $5.7 million funding from institutional investors Trive, Germany-based World Trading Inovation, and the Singapore government-backed Seeds Capital. 

Chor Chen Ang, CEO of Sesto Robotics, says: “Having WTI as a strategic investor at this stage of our company’s development helps us to expand into the important European and German market that is the home of Industry 4.0.

“WTI has a strict investment policy and the investors are entrepreneurs who have built and scaled businesses themselves and believe in investing in the right management team to create successful businesses. [Read more…] about Sesto Robotics raises $5.7 million for its autonomous mobile robots

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

Foxconn invests in wireless power startup’s $25 million Series B funding round

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Powermat Technologies, a wireless power technology startup, says Foxconn has made a “significant investment” as part of a $25 million Series B round.

Foxconn Interconnect Technology, the contract manufacturing giant’s connectivity solutions developer,took part in the funding round along with Hudson Sustainable Group, a founding shareholder of Powermat.

Powermat’s innovative wireless power technology is a critical enabler of the smart mobility, autonomous robotics, industrial drones, medical devices, telecom, and internet of things industries, where Powermat is experiencing exponential growth. [Read more…] about Foxconn invests in wireless power startup’s $25 million Series B funding round

Advanced Driver Assistance Systems predicted to grow to $63 billion by 2024

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The global market for Advanced Driver Assistance Systems (ADAS) is projected to be valued $63 billion by 2024, according to a report by Accurize Market Research. 

The sector is expected to see a compound annual growth rate of 10.7 percent from 2017 to 2025.

Advanced driver assistance systems, or ADAS, are systems developed to automate, adapt, and enhance vehicle systems for safety and improved driving to assist the driver in the driving procedure. [Read more…] about Advanced Driver Assistance Systems predicted to grow to $63 billion by 2024

Brain Corp’s European robotic cleaning fleet reaches 500 million square feet covered autonomously in 2021

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Brain Corp, which provides an operating system for commercial floor-cleaning robots, says its BrainOS-powered fleet of autonomous mobile robots has hit a new milestone of 500 million square feet covered (46.45 million square meters) autonomously in Europe during 2021.

Coming off the back of significant year-on-year growth, Brain Corp has seen momentum build throughout 2021 with the company recording 226 percent growth in floor area covered autonomously between April and October, 2021 alone.

While increases in robot deployments were seen across all industry sectors, the most significant growth came within retail outlets, shopping malls and logistics facilities. [Read more…] about Brain Corp’s European robotic cleaning fleet reaches 500 million square feet covered autonomously in 2021