Industry News

Inceptio Trucking400x275China’s Inceptio Technology has announced the closing of a $270 million Series B equity financing round. The closing of the round will allow the company to accelerate the development of its self-developed, full-stack autonomous driving system known as “Xuanyuan” as well as speed up deployment in electrification.


KEYiTechClicBot400x275KEYI Technology (KEYi TEch) has announced raising tens of millions of dollars in Series B financing. The Chinese consumer robotics company plans to use the funds to expand its developer ecosystem and develop new products.


Lucid D1Drone400x275Defiance Ventures, a Charlotte, N.C.-based venture capital firm, has announced its investment in Lucid Drone Technologies, which develops and manufactures autonomous drones for labor-intensive tasks such as commercial cleaning and spraying. Terms of the investment were not disclosed.


inViaRobotics400x275InVia Robotics, which develops next-generation warehouse automation solutions including autonomous mobile robots, has announced raising $30 million in a Series C funding round. The round was co-led by M12 (Microsoft’s venture fund) and Qualcomm Ventures, with participation from Hitachi Ventures and existing investors Point 72, Upfront, and Embark. The company has raised $59 million from strategic funders to date.


Neuro42 MRI 400x275Neuro42, which develops diagnostic imaging and image-guided surgical interventions of the brain, has announced raising $6.5 million in a Series A funding round. The financing will be used to advance the development of its MRI and robot platform, allowing physicians to diagnose brain injuries in acute settings, and treat neurological diseases intraoperatively under live imaging.


Covariant400x275Covariant, which uses artificial intelligence to allow robots to see the world around them, has announced it raised $80 million in Series C funding, bringing its total capitalization to $147 million within two years of the company’s public launch. The company said it plans to use the funding to continue investment in AI Robotics research and development, as well as expand its team globally to accelerate bringing AI into the physical world.


BerkshireGrey Chips400x275Berkshire Grey, which develops AI-baseds software and hardware to automate warehouses and fulfillment centers, has completed the previously announced business combination with Revolution Acceleration Acquisition Corp. (RAAC), a special purpose acquisition company (SPAC). Berkshire Grey’s Class A common stock and public warrants are expected to commence trading on the Nasdaq under the ticker symbols “BGRY” and “BGRYW” on Thursday, July 22, 2021.


InOrbitArch400x275InOrbit, which develops a cloud-based robotics operations platform, has announced that it is fully compatible with robots that implement the recently announced MassRobotics AMR Interoperability Standard. In addition, the company said it is helping robotics companies become compliant with the standard, which allows autonomous mobile robots to share information about the robot’s speed, location, direction, health, tasking/availability, and other performance statistics.


ABB ASTI Mobile400x275ABB has announced it will acquire ASTI Mobile Robotics Group, a global provider of autonomous mobile robots (AMRs). The acquisition will expand ABB’s robotics and automation offerings, giving it a complete portfolio for the next generation of flexible automation, the company said in a statement. Financial details of the transaction were not disclosed, but the deal is expected to close in mid-summer 2021.


HaptX Gloves400x275HaptX, which develops realistic haptic feedback technology, has announced raising $12 million in a Series A-1 financing round, along with a new headquarters in the Seattle area. The company also announced a second manufacturing run of its HaptX Gloves DK2, advanced haptic feedback gloves, after selling out the first run in less than six months.


Verve400x275Wearable robotics startup Verve Motion has announced it raised $15 million in Series A funding. The company is developing a new class of connected wearable technology for the industrial sector by integrating robotics into functional apparel.


AuroraSPAC400x275Self-driving technology company Aurora has announced entering into a definitive business combination agreement with Reinvent Technology Partners Y, a special purpose acquisition company (SPAC) with the intention of going public following the merger. Upon closing of the proposed transaction, the combined company will be named  Aurora Innovation with common stock expected to be listed on Nasdaq with the ticker symbol AUR.


Algolux400x275Algolux, a computer vision software company, has announced raising $18.4 million in Series B funding. The new investment will be used by the Montreal-based company to accelerate market adoption of its computer vision and image optimization solutions. The round was co-led by Forte Ventures and Drive Capital, with additional funding from new investors Investissement Quebec, Castor Ventures, and Nikon-SBI Innovation Fund. Existing ventures GM Ventures, Generation Ventures, and Intact Ventures also participated.


PickleRobotDill400x275Ranpak Holdings Corp, which develops environmentally sustainable, paper-based packaging solutions for eCommerce and industrial supply chains, has announced a recent investment in Pickle Robot Company, which is developing robots for automated sorting, loading, and unloading of packaged goods within logistical lines. Financial terms of the investment were not disclosed.


WellSaid Stock 400x275WellSaid Labs, which is developing artificial intelligence-based text-to-speech technology, has announced raising $10 million in a Series A round. The company said it will use the funding to drive further AI and product innovation, scale go-to-market functions, and grow its team.


IFR Yaskawa400x275Preliminary data from the International Federation of Robotics (IFR) indicates that China saw a sales increase of 19% for industrial robots in 2020, with 167,000 robots shipped. While global robot installations in 2020 were down 2%, the IFR said the sales decline was more moderate than expected.