Robotics & Automation News

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Yamaha Motor Ventures leads $7.5 million funding round for Verge Ag

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Yamaha Motor Ventures, the strategic business development and investment arm of Yamaha Motor, has led a $7.5 million Series A funding round for Verge Ag, a precision agriculture company.

Verge claims to be the developer of the world’s first AI-powered interactive software that enables farmers to plan, simulate, and validate the movement of equipment in the field and execute field operations efficiently.

Nolan Paul, partner and Global Ag Tech lead for Yamaha Motor Ventures, says: “This investment in Verge Ag underlines our thesis that precision farming technologies are mission critical to a sustainable future for agriculture. [Read more…] about Yamaha Motor Ventures leads $7.5 million funding round for Verge Ag

Miso Robotics opens Series E funding round after already raising $50 million

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Miso Robotics, the robotics company specialising in the restaurant industry with, is opening its Series E funding round after raising more than $50 million through equity crowdfunding in its Series C and D.

The company is aiming to raise $40 million this round and plans to use the new capital to more rapidly satisfy the product demand it is facing in the marketplace, as well as grow its workforce, which has more than tripled in size in the past year.

It is currently accepting investment reservations in this round while it undergoes the SEC review process.  [Read more…] about Miso Robotics opens Series E funding round after already raising $50 million

Skyline Robotics unveils ‘world’s first high-rise window-cleaning robot’ Ozmo

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Skyline Robotics has unveiled “the future of window cleaning” with Ozmo, describing it as the “world’s first high-rise window-cleaning robot”, and investors are taking notice. (See video below.)

The company has closed a successful pre-Series A funding round led by Standard Industries with contributions from Karcher New Venture and Gefen Capital.

Skyline will use the funding across a variety of business operations including expanding its New York City team, as well as continued product development and new capabilities to own the facade operations of the future. [Read more…] about Skyline Robotics unveils ‘world’s first high-rise window-cleaning robot’ Ozmo

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

RightHand Robotics raises $66 million in Series C funding

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RightHand Robotics, a startup developing autonomous robotic picking solutions for order fulfillment, has secured $66 million in a Series C financing.

The funding round was led by investors Safar Partners, a technology venture fund; Thomas H. Lee Partners, an investor in automation and supply chain; and SoftBank Vision Fund 2, which is part of the SoftBank Group.

Zebra Technologies, Epson and Global Brain also join this round, along with previous investors GV, F-Prime Capital, Menlo Ventures, Matrix Partners and Tony Fadell’s Future Shape. Previous rounds were led by Menlo Ventures and Playground Global. [Read more…] about RightHand Robotics raises $66 million in Series C funding

Autonomous vehicle simulation startup MorAI raises $20 million funding

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MorAI, a developer of autonomous vehicle simulation technology, has secured a $20 million Series B funding round.

The round includes investment from new investors Korea Investment Partners, KB Investment, and the state-run Korea Development Bank, as well as from existing investors Naver’s D2 Startup Factory, Hyundai Motor Group’s Zero1ne, Kakao Ventures, and Atinum Investment, bringing MorAI’s total funding to date to $25 million.

MorAI was co-founded in 2018 by three autonomous driving researchers from the Korea Advanced Institute of Science and Technology. Ever since, the company has established itself as South Korea’s sole provider of full-stack autonomous vehicle simulation solutions. [Read more…] about Autonomous vehicle simulation startup MorAI raises $20 million funding

LeddarTech raises $140 million to develop autonomous driving technology

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LeddarTech has raised investment of $140 million, which comprises a Series D first close of $116 million and debt facility of $24 million.

LeddarTech is a developer of advanced driver assistance systems (ADAS) and autonomous driving sensing technology.

FS Investors led the financing round with the participation of Investissement Québec, BDC Capital, Go Capital, certain funds managed by Fidelity Investments Canada ULC, Fonds de solidarité FTQ, Export Development Canada, ams Osram, Desjardins Capital, UI Investissement, Cowen Investment II LLC and other LeddarTech management. [Read more…] about LeddarTech raises $140 million to develop autonomous driving technology

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

Vecna Robotics raises $65 million in Series C funding

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Vecna Robotics, a provider of robotic material handling automation, has raised $65 million in its Series C funding round led by Tiger Global Management, along with additional funding from new investors Lineage Logistics, Proficio Capital Partners, and Impulse.

The new financing will help fund the company’s technology roadmap with new autonomous mobile robots (AMR) and software, and will accelerate fulfillment of new orders and expanded operations to address the $165 billion market opportunity for pallet-moving autonomy.

Craig Malloy, CEO of Vecna Robotics, says: “There is huge headroom for growth in automated material handling with over 5 billion pallets in the world being moved by more than 5 million forklifts and nearly 5 million manual operators. [Read more…] about Vecna Robotics raises $65 million in Series C funding

Agtonomy raises another $5 million to develop technology platform for local agriculture

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Agtonomy, a hybrid autonomy and tele-assist service platform, has raised an additional $5 million in Seed II funding from strategic and venture investors Toyota Ventures, Flybridge, Hampton VC, E²JDJ and Momenta, for a total of $9 million in seed funding to date.

The startup, which is developing a platform for local agriculture, raised $4 million in its seed round from Grit Ventures, GV (formerly called Google Ventures), and Village Global, the venture firm backed by some of the world’s most successful entrepreneurs including Bill Gates, Jeff Bezos, and Michael Dell, in September last year.

This latest round will be used to accelerate development and trials of the Agtonomy platform to address the growing labor and sustainability challenges facing local agriculture. [Read more…] about Agtonomy raises another $5 million to develop technology platform for local agriculture