Market trends and business perspectives
Refraction AI, the robotics startup and creator of the REV-1 autonomous delivery robot, has raised $4.2 million in new seed funding led by Pillar VC.
The company says the capital will be used for customer acquisition, geographic expansion and product development.
Founded in July 2019, Refraction AI solves last-mile delivery logistics with a practical, economical and sustainable application of mobile robot technology. [Read more…] about Delivery robot company Refraction AI raises $4.2 million
Startup Future Acres is looking to raise $3 million to bring agricultural robotics to the farm industry in order to “optimize workforce efficiency”.
The initiative to raise up to $3 million in seed capital is being organized through the equity crowdfunding site SeedInvest. The company is producing an autonomous, electric agricultural robotic harvest companion, named Carry, to help farmers gather hand-picked crops faster and with less physical demand.
At a time when farmers are tasked with producing more food than ever before to meet growing global population demands – predicted to get as high as 10 billion people by 2050 – limitations in labor and harvesting tools, in addition to environmental scrutiny, have prevented farmers from staying profitable and scaling their businesses. [Read more…] about Agriculture robotics startup Future Acres looking to raise $3 million
Volvo Group and Daimler Trucks have entered into a joint venture to develop, produce and commercialize hydrogen fuel-cell systems for use in heavy-duty trucks as the primary focus, as well as other applications.
The ambition of both partners is to make the new company a leading global manufacturer of fuel cells, and thus help the world take a major step towards climate-neutral and sustainable transportation by 2050.
Volvo will acquire 50 percent of the partnership interests in Daimler Truck Fuel Cell for approximately €600 million on a cash and debt-free basis. Closing of the transaction is expected during the first half of 2021. [Read more…] about Daimler and Volvo launch €1.2 billion venture to develop hydrogen fuel-cell technology for trucks
A startup company called Bobacino has launched its automated Boba Tea Bar, which uses a robotic arm to make beverages for customers. (See video below.)
Bobacino says it is bringing the “unique boba tea experience” to a growing audience of boba aficionados and new enthusiasts through advanced artificial intelligence, automation and robotics.
The company has launched on StartEngine, a crowdfunding platform, to target a market that it forecasts is set to hit $8.4 billion by 2024. [Read more…] about Bobacino launches robotic tea bar
HRG Robotics has held its first startup competition, attracting more than 50 investment and technology companies and organisations.
The company says it wants to provide a platform to support innovation and startups.
HRG says startup competitions help connect companies of “great potential” within HRG system with top venture capitalists. [Read more…] about HRG Robotics holds its first startup competition
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
Volkswagen is to construct buildings and infrastructure for the battery cell factory it has agreed to build with Northvolt. The automotive giant has made initial investment of some €450 million.
The joint venture between Volkswagen Group and the Swedish battery producer Northvolt is gaining further momentum.
It has been decided that Volkswagen itself will erect the buildings and infrastructure for the joint venture’s “Northvolt Zwei” factory that is to produce lithium-ion battery cells, in order to leverage synergies at the Salzgitter site – based on the existing Center of Excellence for Battery Cells. [Read more…] about Volkswagen invests €450 million in battery manufacturing joint venture with Northvolt
Volvo and Daimler are to begin “large-scale production” of hydrogen fuel cells.
The companies say this enable them to “lead the development of sustainable transportation”.
Sharing the Green Deal vision of sustainable transport and a carbon neutral Europe by 2050, two leading companies in the commercial vehicle industry – Daimler Truck and the Volvo Group – have signed a preliminary non-binding agreement to establish a new joint venture. [Read more…] about Volvo and Daimler to begin ‘large-scale production’ of hydrogen fuel cells
Severstal, one of the world’s largest vertically integrated steel and mining companies, has invested in Dutch company Airborne, a developer of robotic and digital automation platforms for the production of composite parts and products with integrated composites.
Severstal joins other investors in this investment round, including Pangaea Ventures, the leading advanced materials venture capital fund, and SABIC, the world’s third largest diversified chemical company.
Airborne has developed and brought to market a unique set of digital technologies that increase the efficiency of carbon fiber composite production by automating the production process. [Read more…] about Severstal invests in robotics to automate advanced composites manufacturing with Airborne
Volvo Group Venture Capital has invested in Apex.AI, a developer of software for autonomous cars and mobility.
Volvo says the investment will fund the development of a “safety-certified software framework for autonomous systems”.
Apex, a Palo Alto, California-based company founded in 2017, is building an automotive-grade version of Robot Operating System, an established open source software framework commonly used in robotics and autonomous systems research. [Read more…] about Volvo invests in autonomous car software developer Apex
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