Robotics investments for May 2024 topped $2.1 billion, the result of funding for 38 companies. The $2.1 billion is the highest monthly funding amount for the year 2024 and greatly exceeds the trailing 12-month average of $1.2 billion. Robotics funding through May 2024 totals approximately $5.7 billion.

The two largest robotics investments were raised by autonomous driving companies. UK-based Wayve raised a $1 billion Series C, while Massachusetts-based Motional raised $475 million from Hyundai. Motional’s funding came just weeks after partner Aptiv cut off financial support after incurring millions of dollars in losses.

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Drone companies also attracted substantial investments in May 2024. Aerodome, a developer of a drone-based data acquisition and analysis system for emergency response operations, attracted $21.5 million in Series A funding. Neros Technologies, a provider of autonomous drones and services for defense operations, and SwissDrones, a developer of unmanned helicopter systems for aerial missions beyond visual line of sight, raised $10.9 million (Seed) and $10 million (Series B), respectively.

Unlike previous months, companies located in the U.S. and China did not receive the largest funding amounts. The UK, as a result of Wayve’s outsized $1 billion round led the way in May 2024. Companies based in the U.S. and China received $852 and $138 million in investment, respectively. More typically, companies based in the U.S. (13) and China (8) received the majority of the rounds in May.

Two Series C rounds contributed $1.1 billion to May’s total of $2.1 billion. The remaining funding classes were all represented in May 2024.

Editor’s Note
What defines robotics investments? The answer to this question is central in any attempt to quantify them with some degree of rigor. To make investment analyses consistent, repeatable, and valuable, it is critical to wring out as much subjectivity as possible during the evaluation process. This begins with a definition of terms and a description of assumptions.

Investments
Robotics investments should come from venture capital firms, corporate investment groups, angel investors, and other sources. Friends-and-family investments, government/non-governmental agency grants, and crowdsourced funding are excluded.

Robotics Companies
Robotics companies must generate or expect to generate revenue from the production of robotics products (that sense, analyze, and act in the physical world), hardware or software subsystems and enabling technologies for robots, or services supporting robotics devices. For this analysis, autonomous vehicles (including technologies that support autonomous driving) and drones are considered robots, while 3D printers, CNC systems, and various types of “hard” automation are not.

Companies that are “robotic” in name only, or use the term “robot” to describe products and services that do not enable or support devices acting in the physical world, are excluded. For example, this includes “software robots” and robotic process automation. Many firms have multiple locations in different countries. Company locations given in the analysis are based on the publicly listed headquarters in legal documents, press releases, etc.

Verification
Funding information is collected from several public and private sources. These include press releases from corporations and investment groups, corporate briefings, market research firms, and association and industry publications. In addition, information comes from sessions at conferences and seminars, as well as during private interviews with industry representatives, investors, and others. Unverifiable investments are excluded and estimates are made where investment amounts are not provided or are unclear.

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Formic Stack address labor shortages with automated palletizing, while Formic Pack automates placement of prepacked goods into containers. | Source: Formic Technologies

Formic Technologies Inc. today announced that it raised another $27.4 million in Series A funding. This builds on the company’s January 2022 funding round, bringing the company’s total Series A funding to $52 million. 

“[During] the first Series A, we were really at the early stages of kind of figuring out the business,” Formic co-founder and CEO Saman Farid told The Robot Report. “We had probably fewer than 10 deployments. We had some early customers; we had some data around how much productivity our robots can bring to our customers. But it was really kind of anecdotal, and in the roughly two years since then, I would say we’ve really kind of figured out a lot of those questions and have a lot more to show.”

The Chicago-based company offers its systems to U.S. manufacturers through a robots-as-a-service (RaaS) model, in which it delivers support for automation at an hourly rate. This support includes deploying the systems and providing continuous monitoring and maintenance throughout the engagement to ensure success. 

Since its last funding, Formic said its robotic fleet has completed 100,000 production hours at more than 99% uptime. The company said it expects its equipment to gain another 100,000 production hours in the next 170 days. 

Many manufacturers are still new to robotics

Seventy-five percent of Formic’s customers have never used robots before adopting its platform, estimated Farid. The company aims to help more businesses realize the benefits of automation, and it has its work cut out for it. An MIT report found that only 10% of U.S. manufacturers use automation in their production facilities. 

At the same time, the sector will need as many as 3.8 million new employees by 2033. An estimated 1.9 million of these jobs could go unfilled, making automation more important than ever, said industry analysts.

“Manufacturers have been struggling over the last five to 10 years to complete with global wages,” Farid said. “It’s much harder when they don’t have labor available.”

“Because of our robots, a lot of our customers are actually winning more and more business,” he asserted. “They’re able to grow, instead of what they’ve spent the last 10 years doing, which is trying not to die.”

Formic plans to use funding for expansion

“In the coming years, we plan to grow more globally. We plan to expand to new regions, both in the U.S. and outside the U.S.,” Farid said. “We are going to grow our sales and deployment and maintenance team across all of those areas so that we can support customers in all those regions.” 

With the new funding, Formic plans to expand its fleet of standardized equipment. The company said this will allow it to provide more automation to more manufacturers, deploy more rapidly, and offer shorter lead times.

Formic said it also hopes to increase its network of support experts across the U.S., enabling faster customer responses while upholding its maintenance service-level agreements (SLAs).

“That [funding] is really going towards spending more capital, on building more regional capabilities; building more footprint; and building more software tools to make it faster, cheaper, easier, and more reliable to deploy these robots,” Farid said. 

In addition, Formic said it will enhance its equipment-agnostic software that uses AI for motion planning, predictive maintenance, system design, and creating more intuitive customer interfaces and dashboards. 

“We just started our AI product tools, and we’re starting to see a huge impact,” said Farid. “Because of all the data that we are collecting from all of our deployed robots, we believe we have the biggest and best data set out there to train world-class robotics and AI models.”

“One of them is called Formic Core, which is basically like an operating system for robots, and it allows us to really quickly configure the robot to do any task in any location,” he explained. “We have another set of tools called Fast Formic Automation Software Tools, which are basically tools for really rapid site evaluation.”

“It uses that lidar scan of a customer site to quickly generate the right robot arms and design for the entire robot work cell, which is something that’s really unique,” Farid said. “We’re able to basically cut our deployment costs nearly in half because of all the AI and software tools we’ve built. We’ve also increased the ability of our crew to maintain those robots efficiently.”

Investors bring more than just capital to the table

Blackhorn Ventures led Formic’s funding round, which also included participation from Mitsubishi HC Capital America, NEC, Translink Capital, Alumni Ventures, FJ Labs, Lux Capital, Initialized Capital, and Lorimer Ventures.

“We chose to work with [Blackhorn] because they are very focused on industrial technology, and they have a group of investors in their fund that are large industrial conglomerates from around the world,” Farid said. “So, we’re able to get a lot of mutual support from them. In addition to just putting capital in, they actually are able to really help us with growing our customer base and getting more access.” 

Formic also announced a joint commercial agreement with Mitsubishi HC Capital and U.S.-based Group Company Mitsubishi HC Capital America. The two companies will collaborate to source and finance the entire lifecycle of Formic’s RaaS model, an all-encompassing managed system for manufacturing automation.

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The Carina surgical robot platform. | Source: Ronovo Surgical

Ronovo Surgical this week announced that it has closed a Series B funding round worth $44 million to commercialize its Carina Platform in the Chinese market and prepare for international expansion. The Shanghai-based company has developed technologies for soft-tissue procedures.

Shanghai-based Ronovo aims to use the funds to accelerate the commercialization of the proprietary Carina platform. It hopes to bring the robot to the Chinese market and set the stage for international expansion.

Carina is configurable for multiple procedures

Ronovo Surgical said it built Carina to enable configurable robotic assistance for laparoscopic surgeries across multiple specialties. The company developed the modular system with experienced Chinese laparoscopic surgeons.

Carina addresses numerous pain points in minimally invasive surgeries. Ronovo claimed that it provides surgeons with the flexibility to choose the best instruments and the most ideal anatomical access.

Surgeons can flexibly configure the systems to optimize anatomical reach and access, as well as surgical workflow. Carina has up to five bedside modules, which can be adjusted depending on the needs of the procedure.

“Taking Carina from concept design to completion of human clinical trial in three years is the result of our clinical-driven approach toward engineering, practicality in design decisions and the remarkable dedication of our team,” said Ying Mao, chief technology officer and chief operating officer of Ronovo Surgical. “Along the way, we built out a multi-product portfolio that features surgical robotics, functional vision, and a full suite of surgical instrumentation – backed by more than 100 patent applications.”

Ronovo recently completed a clinical trial that included urology, gynecology, thoracic, and general surgery patients. The company now expects to obtain regulatory approval in China and begin commercialization in early 2025. It also plans to build a 130,000-sq.-ft. (12,077 sq. m) facility to support its launch efforts.

In addition, Ronovo recently launched its first international site — the Ronovo Institute of Surgical Excellence (RISE) in Orlando, Fla. The company said it established RISE to deepen clinical collaboration with top international surgical experts and medical societies.

Investment, innovation focus on Ronovo expansion

Guolian Capital and INCE Capital co-led Ronovo Surgical’s latest round, with participation from King Star Med and existing shareholder LongRiver Investments.

“Securing this round of financing from such an esteemed group of investors, despite challenging capital market conditions, is a significant acknowledgment of our vision, mission, and the execution of the team,” said John Ma, CEO of Ronovo Surgical. “Our innovation efforts for developing Carina have been laser-focused on expanding its application across multiple specialties, reducing the learning curve, and improving cost-effectiveness.”

Last September, the company raised $26 million, adding to a February round that came along with the unveiling of the Carina platform.

Editor’s note: This article is syndicated from The Robot Report sibling site MassDevice.

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GrayMatter automated manually intensive tasks at Lawrence Brothers. Source: GrayMatter Robotics

Like businesses in other industries, U.S. manufacturers face widening labor shortfalls and need automation to help fill those gaps. GrayMatter Robotics today announced that it has raised $45 million in Series B funding. The Carson, Calif.-based company said it plans to use the investment to expand to meet customer demand. 

“We founded GrayMatter to enhance productivity while prioritizing workforce well-being,” stated Ariyan Kabir, co-founder and CEO of GrayMatter Robotics. “With our physics-based AI-powered systems, we are fulfilling our mission while unlocking new levels of efficiency. With our investors’ support, we are making a real difference for shop workers and addressing the critical labor shortages in manufacturing today.”

GrayMatter Robotics said it bundles proprietary artificial intelligence with off-the-shelf robots, sensors, and tools for application-specific, turnkey solutions. The company offers its systems through a robotics-as-a-service (RaaS) model and said they relieve shop floor workers of tedious and ergonomically challenging tasks. They can also enhance production capacity and reduce scrap, repair, and rework costs, it said. 

GrayMatter applies AI to production tasks

The $2.5 trillion U.S. manufacturing industry is grappling with a growing backlog of unfilled orders due to a severe labor shortage. Many of these roles are hazardous and demand extensive training, leading to a critical gap of 3.8 million unfilled jobs, according to Deloitte.

SK Gupta, Ariyan Kabir, and Brual Shah founded GrayMatter Robotics in 2020. The company said it holds 10 patents and has processed more than 7.5 million sq. ft. (about 700,000 sq. m) of product surface area.

GrayMatter said its proprietary GMR-AI technology enables robots to self-program and adapt to high-mix, high-variability manufacturing environments, providing consistent quality and reducing cycle times. 

Smart workcells with GrayMatter technology can autonomously handle complex tasks such as sanding, polishing, grinding, coating, and finishing, it added. By automating such jobs, businesses can meet global demand while also improving the quality of life for their workers, said the company. 

Products including Scan&Sand, Scan&Polish, Scan&Buff, and Scan&Grind can increase quality and consistency while reducing costs, said GrayMatter. Manufacturers can benefit a system availability of 95% to 98%, and most contingencies can be resolved in under five minutes, it said.

GrayMatter claimed that its systems can work two to four times faster than manual operations and that employee training that used to take six months can now be done in less than a day. In addition, the company said its robots can help businesses address sustainability goals by reducing consumption and consumable waste by 30% or more over traditional methods.

GrayMatter combines AI and robotics to improve finishing efficiency and reduce waste. Source: GrayMatter Robotics

Users report increased efficiencies

Over the past two years, GrayMatter Robotics has deployed robots across North America in aerospace, defense, specialty vehicles, marine, recreation, metal fabrication, and consumer products. The company said its RaaS model helps manufacturers enhance production capacity and reduce costs associated with scrap, repair, and rework.

“We are excited to partner with GrayMatter Robotics, as their AI-driven robotic solutions have enabled us to more efficiently address major demand growth in our operations stemming from increased football participation and market-share gains, ensuring consistent quality and throughput despite workforce staffing challenges,” said Drew Dixon, director of distribution and strategy at sports equipment maker Riddell.

“Collaborating with GrayMatter Robotics underscores Riddell’s ongoing commitment to innovation and excellence in both its manufacturing operations as well as the protective equipment it delivers to the field,” he added.

“GrayMatter helps us replace some of our more taxing manual labor,” said Melanie Protti-Lawrence, president of steel fabricator Lawrence Brothers Inc. “We are proud to partner with GrayMatter in an effort to provide longevity in the workforce. We’re constantly working toward a healthier work-life balance, with a focus on working to live rather than living to work.”

“Their robots are not just tools but [also] enablers of growth,” she said. “They allow our workers to engage in more meaningful and less physically taxing tasks, contributing to a healthier and more productive work environment.”

Investors help GrayMatter to grow

With the new capital, GrayMatter is actively hiring for a wide range of roles to meet customer demands, expanding its Los Angeles headquarters, and accelerating the development and deployment of its next-generation AI-powered robots.

Wellington Management led the Series B round, which also included NGP Capital, Euclidean Capital, Advance Venture Partners, and SQN Venture Partners. They joined existing investors 3M Ventures, B Capital, Bow Capital, Calibrate Ventures, OCA Ventures, and Swift Ventures.

“GrayMatter is driving a pivotal transformation in manufacturing with their advanced AI solutions,” said Sean Petersen, sector lead for private climate investing at Wellington Management. “Their ability to enhance productivity, energy efficiency and safety while managing costs, positions them uniquely in the market.”

Wellington Management Co. advises 2,500 clients in more than 60 countries. The Boston-based firm manages more than $1.2 trillion for clients, including pensions, endowments and foundations, insurers, and global wealth managers.

Wellington’s Private Investing Team has raised more than $8.5 billion in global assets, and it invests in multiple sectors and technologies. The team includes more than 1,000 professionals with private market experience with public market expertise, extensive networks, and robust research to benefit both investors and entrepreneurs.

“The combination of AI-driven technology and depth of domain expertise in the GrayMatter solution blew us away,” said Debjit Mukerji, partner at NGP Capital. “It is incredibly challenging to develop high-performance and ultra-reliable robots for such difficult manufacturing conditions.”

“Going to market with GrayMatter Robotics aligns with our mission to foster innovative solutions that drive efficiency and sustainability in manufacturing,” said Adi Leviatan, president of 3M’s Abrasives Division. “This technology addresses critical industry challenges and delivers significant value to our customers.”

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Vecna offers warehouses robotic tuggers, lift trucks, and pallet jacks. Source: Vecna Robotics

WALTHAM, Mass. — Although investment in robotics dipped in the past year, suppliers with proven products and business models have been finding funding. Vecna Robotics today announced the close of its Series C round at $100 million, with $40 million in new funding including equity and debt. The financing nearly doubles the company valuation since its Series B round.

“Finalizing this capital raise, with the help of our existing investors and a new financing partner, is huge validation that we are on the right track,” stated Craig Malloy, CEO of Vecna Robotics. “With fresh capital secured, we have the balance sheet to help us drive growth with our existing customers through improved product performance and the release of new automation technology that will change the game for material handling in warehousing and distribution.”

Vecna Robotics said its autonomous mobile robots (AMRs), Pivotal orchestration software, and round-the-clock Command Center can help supply chains automate critical workflows and maximize throughput at scale. The company has tightened its focus to self-driving forklifts, pallet jacks, and tuggers to address widespread labor shortages.

Vecna and GEODIS to automate case picking

Over the past year, Vecna Robotics has combined cloud software updates and investments in its Pivotal Command Center to help customers such as GEODIS, FedEx, Caterpillar, and Shape. They have realized as much as 70% performance improvements in ground-to-ground warehouse workflows including case picking, packaging, and cross-docking, it said.

Vecna said the cash infusion will support the launch of platforms that will enable it to “provide more deployment flexibility and reach into new workflows that are in high demand, while being able to continue delivering operator cost savings from Day 1.”

“GEODIS has been working with Vecna Robotics on the development of a new, groundbreaking case-picking solution that nearly doubles performance,” said Andy Johnston, senior director of innovation at GEODIS. “We are counting on this recent cash infusion at the company to speed up development and launch of a complete, market-ready offering that can be deployed right away.”

Vecna tests in house to ensure reliability

The Robot Report recently visited Vecna Robotics headquarters to see its “bowling alley,” where it tests its AMRs around the clock. The company tests capabilities including the “handshake” between its robots and conveyors.

For instance, during a demonstration, Vecna tested its Co-bot Pallet Jack (CPJ) picking up and dropping off heavy loads beyond what customers typically need. It tracks runtimes and multiple maneuvers, and a staffer stays overnight mainly to swap batteries.

“We’re always pleasantly surprised at our low failure rates,” observed Mark Fox, director of validation at Vecna. “We can replicate the conditions of a typical customer site, including obstacles. We analyze the scene and look at multiple pickups and drop offs so that performance doesn’t drop.”

Vecna has also developed sensing at height, enabled robots to accept some variance from existing maps, and participated in the MassRobotics interoperability standards effort.

“We’re working on applying our technology and data to case picking in addition to pallet movement,” explained test engineer Chinonso Ovuegbe.

What products and sectors are seeing the most demand?

“Self-driving forklifts and tuggers are our most popular products,” replied Fox. “Robotics-as-a-service [RaaS] per month is also popular, but some customers buy our products outright. Third-party logistics providers [3PLs] and automotive are booming.”

Investment and new COO to enable growth

Tiger Global Management, Proficio Capital Partners, and IMPULSE participated in Vecna Robotics’ Series C round. The company said the funding will allow it to deliver rapid returns on investment (ROI) to cost-conscious warehouse operators served by the $165 billion pallet-moving autonomy market.

To support its rapid expansion, Vecna also announced the appointment of Michael Helmbrecht as chief operating officer. He will oversee operations, manufacturing, IT, product, and customer success to ensure that the company continues to meet its customer-defined performance guarantees.

Helmbrecht has nearly 20 years of operations, product, and partnership experience from executive roles at Dell, Lifesize, and Ring Central. He joins Vecna after a year of triple-digit revenue growth, an over 100% increase in deployments, and the announcement of an industry-leading performance guarantee.

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The Waabi Driver includes a generative AI stack as well as sensors and compute hardware. Source: Waabi

Autonomous passenger vehicles have hit potholes over the past few years, with accidents leading to regulatory scrutiny, but investment in self-driving trucks has continued. Waabi today announced that it has raised $200 million in an oversubscribed Series B round. The funding brings total investment in the Toronto-based startup to more than $280 million.

Waabi said that it “is on the verge of Level 4 autonomy” and that it expects to deploy fully autonomous trucks in Texas next year. The company claimed that it has been able to advance quickly toward that goal because of its use of generative artificial intelligence in the physical world.

“I have spent most of my professional life dedicated to inventing new AI technologies that can deliver on the enormous potential of AI in the physical world in a provably safe and scalable way,” stated Raquel Urtasun, a professor at the University of Toronto and founder and CEO of Waabi.

“Over the past three years, alongside the incredible team at Waabi, I have had the chance to turn these breakthroughs into a revolutionary product that has far surpassed my expectations,” she added. “We have everything we need — breakthrough technology, an incredible team, and pioneering partners and investors — to launch fully driverless autonomous trucks in 2025. This is monumental for the industry and truly marks the beginning of the next frontier for AI.”

Waabi uses generative AI to reduce on-road testing

Waabi said it is pioneering generative AI for the physical world, starting with applying the technology to self-driving trucks. The company said it has developed “a single end-to-end AI system that is capable of human-like reasoning, enabling it to generalize to any situation that might happen on the road, including those it has never seen before.”

Because of that ability to generalize, the system requires significantly less training data and compute resources in comparison with approaches to autonomy, asserted Waabi. In addition, the company claimed that its system is fully interpretable and that its safety can be validated and verified.

The company said Copilot4D, its “end-to-end AI system, paired with Waabi World, the world’s most advanced simulator, reduces the need for extensive on-road testing and enables a safer, more efficient solution that is highly performant and scalable from Day 1.”

Several industry observers have pointed out that self-driving trucks will likely arrive on public roads before widespread deployments of robotaxis in the U.S. While Waymo has pumped the brakes on development, other companies have made progress, including Inceptio, FERNRIDE, Kodiak Robotics, and Aurora.

At the same time, work on self-driving cars continues, with Wayve raising $1.05 billion last month and TIER IV obtaining $54 million. General Motors invested another $850 million in Cruise yesterday.

“Self-driving technology is a prime example of how AI can dramatically improve our lives,” said AI luminary Geoff Hinton. “Raquel and Waabi are at the forefront of innovation, developing a revolutionary approach that radically changes the way autonomous systems work and leads to safer and more efficient solutions.”

Waabi plans to expand its commercial operations and grow its team in Canada and the U.S. The company cited recent accomplishments, including the opening of its new Texas AV trucking terminal, a collaboration with NVIDIA to integrate NVIDIA DRIVE Thor into the Waabi Driver, and its ongoing partnership with Uber Freight. It has run autonomous shipments for Fortune 500 companies and top-tier shippers in Texas.

Copilot4D predicts future lidar point clouds from a history of past observations, similar to how large language models (LLMs) predict the next word given the preceding text. Source: Waabi

Technology leaders invest in self-driving trucks

Waabi noted that top AI, automotive, and logistics enterprises were among its investors. Uber and Khosla Ventures led Waabi’s Series B round. Other participants included NVIDIA, Volvo Group Venture Capital, Porsche Automobil Holding, Scania Invest, and Ingka Investments.

“Waabi is developing autonomous trucking by applying cutting-edge generative AI to the physical world,” said Jensen Huang, founder and CEO of NVIDIA. “I’m excited to support Raquel’s vision through our investment in Waabi, which is powered by NVIDIA technology. I have championed Raquel’s pioneering work in AI for more than a decade. Her tenacity to solve the impossible is an inspiration.”

Additional support came from HarbourVest Partners, G2 Venture Partners, BDC Capital’s Thrive Venture Fund, Export Development Canada, Radical Ventures, Incharge Capital, and others.

“We are big believers in the potential for autonomous technology to revolutionize transportation, making a safer and more sustainable future possible,” added Dara Khosrowshahi, CEO of Uber. “Raquel is a visionary in the field, and under her leadership, Waabi’s AI-first approach provides a solution that is extremely exciting in both its scalability and capital efficiency.”

Vinod Khosla, founder of Khosla Ventures, said: “Change never comes from incumbents but from the innovation of entrepreneurs that challenge the status quo. Raquel and her team at Waabi have done exactly that with their products and business execution. We backed Waabi very early on with the bet that generative AI would transform transportation and are thrilled to continue on this journey with them as they move towards commercialization.”

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coboworx offers robotic solutions for machine tending and palletizing. | Source: coboworx

coboworx last week brought in €11.4 million (about $12.2 million) in funding. The company plans to use the funding to expand its team, grow its product range, and tap into new markets. It’s also set to open a new location in Munich later this year.

coboworx’s platform has a modular design that enables SMEs to start with specific systems for individual process steps and expand as needed. The company currently offers systems for palletizing and machine tending applications.

Investors in the round included Northstar Family Holdings, and returning investors SquareOne and Picus Capital. It also included business angels, including Mirko Novakovic, the founder of Instana.

“Manufacturing is undergoing a revolutionary change both in Europe and the US. Due to personnel shortages, the market is ready for robotics on demand—made in Germany. coboworx is leading this movement, making complex robotic technologies affordable, accessible and intuitive to use. Their modular platform is more than a solution; it is a catalyst for industrial change with the potential to reshape the global manufacturing landscape,” Andy Bender, founder of Northstar Family Holdings said.

The Salmtal, Germany-based company hopes to enable small and medium-sized businesses to harness the power of robotics. Its customers include large food retailers that require a steady supply of goods. With the coboworx platform, SMEs can implement robot-assisted automation quickly and without prior knowledge on a subscription basis.

coboworx says its subscription-based model allows customers to automate their production processes without investing much time and money. The company says this is particularly relevant for companies that supply retail groups and have to produce around the clock.

Inside coboworx’s platform

The company breaks down the journey to automation into five steps, which it says can take just a few weeks. The first step is the configuration of the robotic solution. coboworx configurator enables customers to represent their requirements as accurately as possible during this process. 

Next, the team will schedule a non-binding, on-site visit with the customer. During this part, coboworx reviews the customer’s production and creates a concept based on its individual conditions. After this, the company conducts a feasibility study in its technical center. This step allows it to clarify the final gripping technology to guarantee reliability. 

Once the concept is finalized, the company will prepare a binding offer including flexible purchase or rental models. The final step is delivery. coboworx says that within 4-6 weeks, the robotic system will be delivered and its team will install it on-site. The company says installation only takes one day.

The company says future developments will include applications for welding, packaging, and material flow in intralogistics.

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igus has acquired Atronia, its partner for the iSense EC.W sensor. Source: igus

The combination of sensing with motion plastics, which eliminate the need for lubricants, promises easier-to-maintain machinery for Industry 4.0. igus, a global leader in motion plastics and moving cable management systems, last week acquired the majority stake in Atronia Tailored Sensing.

“The acquisition of Atronia by igus is a promising partnership that will undoubtedly lead to further breakthrough innovations and improved technology integration,” stated Carlos Alexandre Ferreira, manager at Atronia Tailored Systems. 

Gafanha da Nazaré, Portugal-based Atronia develops wireless products for measuring and monitoring applications. The company said it supports product-development strategies including innovation, renewables, and sensing.

Since 2016, Atronia has supported igus with smart plastic sensors. These sensors monitor the condition of the product, whether it needs to be serviced or replaced, or whether a problem is occurring. igus said this strategic acquisition is intended to help expand its market offerings for for networked plastic components.

Industry 4.0 demands mass production of critical sensors

Industry 4.0 encompasses automation, artificial intelligence, and networking for greater productivity, agility, and safety. igus said its goal is to mass-produce next-generation products and make them accessible to small and midsize businesses (SMBs).

For years, igus has invested in research and development for new types of smart plastics. The Rumford, R.I.-based company‘s lines include plain bearings, energy chains, and cables that are equipped with sensors and integrated into the Internet of Things (IoT).

“Intelligent predictive-maintenance software calculates optimum maintenance times and alerts technicians in good time via e-mail and text message in the event of critical conditions to prevent expensive system failures,” explained igus. The company recently won an RBR50 Robotics Innovation Award winner for a gripper for its ReBeL collaborative robot.

Michael Blass, CEO of igus e-chain Systems, and Carlos Alexandre Ferreira, manager of Atronia Tailored Systems, celebrate the development of new Industry 4.0 products together. Source: igus GmbH

Atronia acquisition part of igus strategy

“By acquiring Atronia, we can harmonize the processes, systems, and teams of both companies even better, which will lead to synergies and efficiency gains in the long term,” said Michael Blass, CEO of e-chain Systems at igus. “This allows us to start series manufacturing for the Industry 4.0 era and make the products accessible to small and medium-sized companies with limited budgets and little experience.”

The collaboration between igus and Atronia resulted in the iSense EC.W sensor. Mounted on energy chain crossbars, it records the chain’s state and remaining service life.

Customers have given positive feedback about the sensor’s cost-effectiveness and intuitive design, said Atronia and igus. The partnership plans to jointly create more products in the future.

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Floware includes AMRs, fleet management software, real-time performance dashboards and more. | Credit: Floatic

Korea-based Floatic, a warehouse robotic solutions provider, raised $3.8 million in a pre-Series A bridge round. The investment was led by Capstone Partners and included Quantum Ventures Korea, Bluepoint, BNK Venture Investment, and BSK Investment.

Floatic has raised a total of $8 million since it was founded in 2021. Floatic attracted seed investments from South Korean tech giant Naver Corp.’s D2SF and Kakao Corp.’s Kakao Ventures shortly after it was founded. It then closed a $2.5 million pre-Series A round in 2022.

The company plans to use the funding to extend its research and development efforts and enhance its product as it prepares for commercialization this year.

Floatic develops and offers Floware, a robotic system for e-commerce picking. It offers a complete solution from integration to deployment and operation in less than six weeks, with minimum infrastructure and financial requirements, according to the company. Floatic claims its approach increases productivity up to 3.5 times compared to manual picking.

Floware consists of autonomous mobile robots (AMR) designed specifically for warehouses and a management platform tailored to optimizing warehouse workflow. The solution includes features such as the ‘Picking Guide’ and a modular software algorithm that enables flexible operation and real-time management.

“Warehouses have diverse variables daily, making it difficult to provide the necessary solutions without a proper understanding of the site,” said Chan Lee, CEO of Floatic. “We have been focusing on the user voices and developed the product based on this from the very beginning, which makes a crucial difference in the solution.”

The company has been conducting on-site field tests with 3PL companies and local warehouses, and collaborating with leading logistics partners in Korea such as POSCO DX and LogisALL. It intends to make a full commercialization in the second half of this year.

“We will continue to invest in developing and creating the feasible robotic solutions needed to establish the most efficient warehouse environment, thoroughly focusing on the market from a user-centric perspective,” Lee added. “This fundraising will be a powerful engine to achieve this goal, and we are grateful to our investors for supporting us.”

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The Intelligent Surgical Unit applies AI and machine vision to robot-assisted procedures. Source: Asensus Surgical

Asensus Surgical Inc., which has been developing “intra-operative augmented intelligence technology for operating rooms,” today announced that it has entered a definitive merger agreement with KARL STORZ Endoscopy-America Inc. KARL STORZ said the transaction will strengthen its position in the growing surgical robotics market, particularly with Asensus’ next-generation LUNA system.

“We are pleased to have reached this agreement with KARL STORZ, which we believe maximizes value for our stockholders,” stated Anthony Fernando, president and CEO of Asensus Surgical.

“This transaction is a testament to the value of our innovative robotic and digital technology, intellectual property, and the hard work of our talented team,” he added. “We are excited to enter the next chapter for Asensus with KARL STORZ, which will allow us to continue to develop and deliver precise, safer, predictable surgery and digital tools to patients and surgeons around the world.”

The companies have been collaborating for more than a year, and the deal follows the terms of an April letter of intent from KARL STORZ. Under the agreement, KARL STORZ will acquire all outstanding shares of the surgical robot maker for $0.35 per share in cash.

The purchase price represents a premium of about 67%, based on the per-share closing price of the Asensus common stock on the NYSE American on April 2. It also represents a premium of approximately 52% to the closing price of the common stock on the last trading day prior to the announcement. 

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Asensus works to digitalize surgery

The company was founded as TransEnterix Inc. in 2006 and rebranded as Asensus Surgical in 2021 to reflect its vision of using machine learning and computer vision to advance surgical robotics and deliver “consistently superior outcomes.”

The Morrisville, N.C.-based company has offices in Milan and Klinikum Idar-Oberstein, Germany. It said it has more than 200 employees, and over 300 surgeons have used its technology to perform more than 10,000 procedures.

Asensus said its digital laparoscopy technology is approved for use around the world. The Senhance surgical system offers precise manipulation in robot-assisted surgeries, said Asensus. It works with human clinicians through smart tracking of eye movements for minimally invasive procedures. In January, the company placed its first Senhance robot for pediatrics in Japan.

The company offers Senhance along with Performance-Guided Surgery (PGS) and Intelligent Surgical Unit (ISU). Senhance Connect is designed for teleoperation, and Senhance Simulation can aid with training. Asensus said its Augmented Intelligence can deliver real-time insights beyond the robots, similar to GPS, enhancing rather than replacing human capabilities.

The LUNA system in development includes include a surgeon console with unconstrained handles, a touchscreen, and an Ultra-HD 3D monitor. It also has up to four independent robotic arms and a drive system supporting various instrumentation options.

Asensus showed LUNA to physicians in January. The company planned to manufacture LUNA with Flex and said it was aiming for U.S. Food and Drug Administration approval in 2025.

KARL STORZ to take surgical unit private

Asensus Surgical’s board of directors has unanimously approved the transaction. The company said it expects the merger to close in the third quarter of 2024, subject to customary closing conditions, including receipt of approval from the Asensus stockholders.

Upon completion of the transaction, Asensus Surgical will become a subsidiary of KARL STORZ Endoscopy-America and will no longer be publicly listed or traded on the NYSE American Exchange.

KARL STORZ Endoscopy-America is a subsidiary of KARL STORZ SE & Co. KG, an independent, family-owned global medical technology company founded in 1945 in Tuttlingen, Germany. A leader in endoscopy, KARL STORZ employs 9,400 people in more than 40 countries worldwide.

The company‘s portfolio includes 13,000 products for human and veterinary medicine, and it recorded preliminary sales in fiscal of 2023 of €2.17 billion ($2.34 billion U.S.). KARL STORZ has production sites in Germany, the U.S., Switzerland, and Estonia.

Jefferies LLC served as financial advisor to Asensus Surgical, and Ballard Spahr LLP served as legal counsel to Asensus Surgical. UBS Investment Bank served as financial advisor to KARL STORZ, and Ropes & Gray LLP served as legal counsel to KARL STORZ.

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Joby Aviation says it hopes to eventually use Xwing technology for fully autonomous operations. | Source: Joby Aviation

Joby Aviation Inc. this week announced that it is acquiring the autonomy division of Xwing Inc. The acquisition will cover all of Xwing’s existing automation and autonomy technology activities and was paid for with Joby shares. The companies did not disclose the terms of the deal. 

Founded in 2016, Xwing has operated autonomous aircraft since 2020 using its Superpilot software. Developed in-house, the software enables safe, uncrewed operations, supervised from the ground, said the San Francisco-based company. Xwing claimed it offers “fully autonomous gate-to-gate flight technology.”

The company said it has completed 250 fully autonomous flights and more than 500 auto-landings to date. Last year, it received an official project designation for the certification of a large unmanned aerial system (UAS) from the Federal Aviation Administration (FAA).

“Xwing’s goal of connecting communities with clean and affordable autonomous flight aligns closely with Joby’s long-term vision,” stated Maxime Gariel, co-founder, president, and chief technical officer of Xwing.

“For the past seven years, our team has broken barriers to advance aviation autonomy,” she added. “Now, as we join forces with the leading electric air-taxi developer, I can’t imagine a better home for the Xwing team to realize our shared vision.”

Pilot assist to come before fully autonomous flights

Joby Aviation is developing electric air taxis for commercial passenger services. The Santa Cruz, Calif.-based company said its acquisition of Xwing will help it be a leader in aviation autonomy and will build on its 2021 acquisition of high-performance radar developer Inras GmbH.

Founded in 2009, Joby said that Xwing’s expertise in perception technology, systems integration, and certification will benefit both near-term piloted operations as well as fully autonomous operations sometime in the future.

“The aircraft we are certifying will have a fully-qualified pilot on board, but we recognize that a future generation of autonomous aircraft will play an important part in unlocking our vision of making clean and affordable aerial mobility as accessible as possible,” said JoeBen Bevirt, founder and CEO of Joby.

“The exceptionally talented Xwing team has not only made unparalleled progress on the development and certification of vision systems, sensor fusion, and decision-making autonomous technologies, but they’ve also successfully demonstrated the real-life application of their technology, flying hundreds of fully autonomous flights in the national airspace,” he said.

Xwing tech to enable Joby to deliver on DoD contracts

Joby added that Xwing’s staff and technology will help accelerate its execution of existing contract deliverables with the U.S. Department of Defense (DoD) and expand the potential for more contracts.

Xwing’s engineers, researchers, and technologists will help Joby focus on its automation and autonomy roadmap. They will also offer increased opportunities to partner with the DoD on technology development, said Joby.

Xwing’s autonomous flights were completed using a Cessna 208B Grand Caravan aircraft. They allowed the team to focus on areas such as vision system processing, detect-and-avoid algorithms, decision making, and ground control stations, said Joby. The aircraft also supported remote operations, the integration of artificial intelligence and machine learning, and mission management (including trajectory planning and real-time updates.

The U.S. Air Force gave Xwing a Military Flight Release earlier this year. The company’s aircraft participated in the Air Force’s Agile Flag 24-1 Joint Force exercise.

During this exercise, Xwing’s aircraft completed daily flights, covering around 2,800 miles and landing at eight public and military airports. The company also demonstrated its ability to integrate autonomous aircrafts into the national airspace system. 

“Autonomous systems are increasingly prolific in the private sector and bring potentially game-changing advantages to the Air Force as well,” said Col. Elliott Leigh, AFWERX director and chief commercialization officer for the Department of the Air Force. “We created Autonomy Prime to keep up with this shift and to stay engaged as a partner while this technology evolves, so that we can adapt and evolve along with the private sector, maintaining our competitive advantage.”

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The Cobalt mobile robot features autonomous driving technology, allowing it to navigate through various terrains and obstacles with ease, ensuring constant vigilance without human operation. | Credit: Cobalt robotics

Cobalt Robotics has been acquired by investor Dean Drako, and the name of the firm has been changed to Cobalt AI. Financial terms of the acquisition were not disclosed. The name change was made to more accurately represent the future direction of the company and the products it offers.

Drako is the founder and CEO of Eagle Eye Networks, in addition to a number of other enterprises and side projects. Cobalt AI fits closest to the Eagle Eye Smart Video Surveillance portfolio of solutions.

There are no major changes to Cobalt’s leadership other than Drako serving as the company’s chairman. Ken Wolff, Cobalt’s current CEO, will continue leading the company. The company will also continue to operate as an independent company with its current management team and entire staff.

Cobalt started with mobile robotics

Cobalt Robotics was founded in 2016 as a developer of autonomous mobile robots (AMRs) for security applications. The AMRs were designed to patrol the interior of a facility while actively surveilling activities and remotely monitoring the facilities as an extension of the building’s security.

To meet the growing needs of its corporate customers, Cobalt developed AI-based algorithms for alarm filtering, remote monitoring, sensing, and other autonomous data-gathering functions. In addition to the sensors onboard the Cobalt AMR, the Cobalt Monitoring Intelligence and Cobalt Command Center gather data from a broad range of cameras, access control systems, robots, and other edge devices.

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“The company monitoring and command center technology is a catalyst for a new era of security,” said Drako. “They have created field-proven AI to make security and guarding tremendously more effective and efficient. Furthermore, Cobalt’s open platform strategy, which integrates with a plethora of video and access systems, is aligned with the open product strategy I believe in.”

Drako’s vision for sensor-monitoring AI

In a recent LinkedIn post, Drako explained why he made the deal.

“I did an extensive search, with a goal to acquire the company with the most powerful AI-based enterprise security automation technology in our physical security industry. Cobalt’s AI technologies, including their monitoring and command center solutions, are years ahead — they will be one of the catalysts for a new era of security.

“Importantly, Cobalt’s open platform strategy, which integrates with a wide range of video and access control systems, aligns with the open product strategy I strongly believe in.

“I am working closely with Cobalt AI’s leadership team, as well as infusing significant capital, to quickly scale their ‘human verified AI’ technology across enterprise security applications.”

Cobalt AI is marketing “Human verified AI” to promote human-in-the loop methods of leveraging AI and human-based perception to monitor and interpret security information. | Credit: Dean Drako

“We are thrilled that Dean Drako has acquired Cobalt and will serve as chairman. Dean has invested capital and strategic insights to grow other physical security companies to unicorns and technology leaders in their space,” said Wolff. “We share a mutual vision of the tremendous advantages of automation through AI with human verification.  Drako’s acquisition validates our strategy to improve monitoring, response times and lower costs and also gives us the capital to deliver for our enterprise clients.”

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In Episode 152 of The Robot Report Podcast, editors Steve Crowe and Mike Oitzman discuss the news of the week. Our featured guest on the show this week is Rajat Bhageria, founder and CEO of Chef Robotics.

Bhageria takes us through the inception of the company and how he has broken down the various workflows in the commercial kitchen. Chef Robotics is focused on food manufacturing, deploying automation to the tasks of filling ready-to-cook, prepared meals with individual food items.

The second feature on the show today is an interview hosted by Meaghan Ziemba, host of Mavens of Manufacturing and Joyce Sidopoulos, co-founder and chief of operations at MassRobotics. This interview occurred live at the 2024 Robotics Summit & Expo in Boston.

Ziemba and Sidopoulos discuss the Women in Robotics Breakfast at the Robotics Summit and the MassRobotics Jumpstart program. which supports local high school girls to discover a career in high tech and robotics. They also chat about how MassRobotics is supporting the regional robotics startup ecosystem.

Show timeline

• 10:02: News
• 23:04: Interview with Rajat Bhageria, founder and CEO of Chef Robotics
• 1:07:23: Interview by Meaghan Ziemba, host of Mavens of Manufacturing, and Joyce Sidopoulos, co-founder and chief of operations at MassRobotics

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In the news this week

1. 1. 1. Robotics investments top $466M in April 2024
         • Robotics investments reached at least $466 million in April 2024, the result of 36 funding rounds. The April investments figure lagged recent months and was the smallest amount since November 2023. Last month’s investment total was significantly less than the trailing 12-month average of $1.1 billion.
         • Collaborative Robotics’ $100 million Series B round was April’s largest investment. As its name implies, the California-based firm is developing collaborative robots and enabling software for their use. China’s Rokae, a provider of collaborative and industrial robots, secured $70 million in April.
         • As with previous months, companies located in the U.S. and China received the largest funding amounts, $239 million and $115 million, respectively. Companies based in the U.S. (14) and China (9) also received the majority of the round.
      2. Sonair sensor launch
         • The Norwegian-based sensor company decloaked this week to announce the availability of evaluation kits for its new ultrasonic sensor.
         • Sonair is attempting to disintermediate the safety lidar market with a new obstacle-detecting sensor.
      3. Tangram Vision creates lidar comparison tool
         • If you’re searching for a lidar sensor to add to your robot, Tangram Vision wants to make your evaluation process simpler. The startup, which is building software and hardware for robotic perception, launched an interactive tool called “Spinning LiDAR Visualizer” that lets users compare spinning lidar models.
         • Users can compare 28 sensors from leading manufacturers such as Hesai, Ouster, Quanergy, RoboSense, and Velodyne. The visualizer allows them to select one or two sensors to analyze and compare maximum range, range at 10% reflectivity, angular resolution, and field of view. You can click and drag for different viewpoints, embed the tool somewhere else, or even modify it on GitLab.

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Figure 1: Global Robotics Investment – Trailing 12 Months.

Robotics investments reached at least $466 million in April 2024, the result of 36 funding rounds. The April investments figure lagged recent months and was the smallest amount since November 2023. April 2024’s investment total was significantly less than the trailing 12-month average of $1.1 billion (see Figure 1).

Providers of collaborative robots scored the two largest rounds. As described in Table 1, Collaborative Robotics’ $100 million Series B round was April’s largest investment. As its name implies, the California-based firm is developing collaborative robots and enabling software for their use. China’s Rokae, a provider of collaborative and industrial robots, secured $70 million in April. 

April 2024 Robotics Investments

Other companies attracting substantial rounds illustrate the broad range of company types that received funding in April 2024. For example, Kraken Robotics, a developer of unmanned underwater vehicles and sensors, pulled in $45 million, while Serve Robotics, a provider of autonomous mobile delivery robots, attracted $40 million. Other April funding leaders included Asensus Surgical ($20 million), a supplier of robotic laparoscopy systems, and humanoid robot provider Mentee Robotics ($17 million).

As with previous months, companies located in the United States and China received the largest funding amounts, $239 million and $115 million, respectively (See Figure 2). Companies based in the U.S. (14) and China (9) also received the majority of the rounds.

For both the total number of investments and the overall amount of funding, most fell into the ‘Other’ category, a catchall phrase for investment types that fall outside the typical stages of funding that businesses go through before their initial public offering (ex. Seed, Series A, B, C, D, E and F funding).

Figure 2: April 2024 robotics investment by country.

Figure 3: April 2024 robotics funding by investment type and amount.

Editor’s Note
What defines robotics investments? The answer to this question is central in any attempt to quantify them with some degree of rigor. To make investment analyses consistent, repeatable, and valuable, it is critical to wring out as much subjectivity as possible during the evaluation process. This begins with a definition of terms and a description of assumptions.

Investors and Investing
Robotics investments should come from venture capital firms, corporate investment groups, angel investors, and other sources. Friends-and-family investments, government/non-governmental agency grants, and crowdsourced funding are excluded.

Robotics and Intelligent Systems Companies
Robotics companies must generate or expect to generate revenue from the production of robotics products (that sense, analyze, and act in the physical world), hardware or software subsystems and enabling technologies for robots, or services supporting robotics devices. For this analysis, autonomous vehicles (including technologies that support autonomous driving) and drones are considered robots, while 3D printers, CNC systems, and various types of “hard” automation are not.

Companies that are “robotic” in name only, or use the term “robot” to describe products and services that do not enable or support devices acting in the physical world, are excluded. For example, this includes “software robots” and robotic process automation. Many firms have multiple locations in different countries. Company locations given in the analysis are based on the publicly listed headquarters in legal documents, press releases, etc.

Verification
Funding information is collected from several public and private sources. These include press releases from corporations and investment groups, corporate briefings, market research firms, and association and industry publications. In addition, information comes from sessions at conferences and seminars, as well as during private interviews with industry representatives, investors, and others. Unverifiable investments are excluded and estimates are made where investment amounts are not provided or are unclear.

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Realtime is working with Mitsubishi Electric to develop its motion planning software. Source: Realtime Robotics

Manufacturing can benefit from increasingly intelligent robots as much as any other industry. Realtime Robotics today announced that it has secured a strategic investment from Mitsubishi Electric Corp., leading its recently opened Series B round. The company said it plans to use the funding to refine and scale its robot workcell and runtime systems, which will help engineers reduce costs and increase productivity.

“For years, industrial robot programming has remained a rigid, costly and labor-intensive process,” stated Peter Howard, CEO of Realtime Robotics. “Realtime is helping manufacturers realize the next wave of efficiency improvements necessary to get the most out of their new and existing automation applications.”

“Our optimization and runtime technologies constitute a powerful artificial intelligence that operates much like the human brain’s motor cortex, efficiently managing multiple actions at the same time,” he added. “Think of several cooks in a crowded kitchen being able to seamlessly work around each other to produce meals without error or collision. That’s the power of our technology.”

“We’re planning on using the funds to further scale and refine our optimization and runtime solutions,” Howard told The Robot Report.

Realtime Robotics refines motion control

Realtime Robotics said it is a leader in automatic, collision-free motion planning for industrial robots. In iterative design stages, the optimization software rapidly generates and evaluates hundreds of thousands of possible solutions.

“Our technologies reduce costs and improve productivity across the lifecycle of robotic workcells for both design engineers and manufacturers,” Howard explained. “For example, at the design stage, our optimization solution quickly finds the lowest cycle time on highly complex multi-robot cells with tight space such as spot welding for automotive framing.”

The Boston-based company claimed that its systems expand the potential of automation, empowering multiple robots to work closely together in collaborative workspaces. It added that runtime control further simplifies deployment and production, enabling multiple robots to work closer together, while simultaneously reacting to dynamic changes.

“In runtime, our auto-homing and dynamic obstacle avoidance unleashes the power of multiple robots in high-mix, low-volume or unstructured applications like machine tending, depalletizing, bin picking, and container unloading,” said Howard.

When the workcell needs to be retooled, the complex robot control can be reprogrammed for optimal cycle time from the first iteration, said Realtime Robotics. The company said its interfaces with leading simulation software brands and industry-standard controllers help customers and partners access its systems through their preferred methods.

Realtime’s customers include automotive manufacturers BMW and Volkswagen Commercial Vehicles, as well as integrators Valiant TMS and Schaeffler Group. They have reported improved cycle times, reduced downtime, and increased throughput as a result of working with Realtime.

Mitsubishi Electric expects efficiencies from automation

Mitsubishi Electric, which also participated in Realtime Robotics’ Series A round, will be adding a senior representative to Realtime’s board of directors. The Tokyo-based company said that it plans to “further integrate integrate Realtime’s motion-planning technology into 3D simulators and other software to optimize manufacturing through the power of digital twins.”

Later, Mitsubishi Electric said it expects to incorporate Realtime’s technology into factory automation (FA) control system devices, such as programmable logic controllers (PLCs), servo motors, and computer numerical controllers (CNCs). The manufacturer said it expects to eliminate production interruptions by expanding automation capabilities, streamlining plant operations for improved efficiency, and quickly responding to unexpected events.

“We’re excited to continue working directly with Mitsubishi on ways that they can utilize our technology throughout various aspects of their operations,” said Howard. “This will further enable their transformation into a circular digital-engineering company.”

Mitsubishi Electric said it has more than 100 years of experience in manufacturing and selling electrical and electronic equipment for factory automation, information processing and communications, space development and satellite communications, consumer electronics, energy, transportation, and building equipment. The company recorded a revenue of 5,257.9 billion yen ($34.8 billion U.S.) in the fiscal year ended March 31, 2024.

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Realtime fundraising, AI development continue

While the companies didn’t specify the amount of the investment, Realtime Robotics said Mitsubishi Electric’s expertise will help guide its development of automation for manufacturing.

“Mitsubishi has been a valued partner since our Series A was first announced, and we’ve worked closely with them on various projects,” said Howard. “Our technology has of course benefited from what we’ve learned as a part of this partnership — and we’re really excited to take this further.”

Realtime Robotics is also communicating with other investors, which Howard said he hopes to announce in the coming months. Ongoing improvements in artificial intelligence will also help robot control, he said.

“One thing I’ve learned from years in this industry is that there’s always room for improvement,” said Howard. “As simulation improves and AI matures, there will be an opportunity to become even more efficient in the ways a manufacturer’s process is analyzed and optimized.”

“Digital twins will become more exact, and AI can make better decisions faster than humans, as long as the data remains accurate,” he said. “Right now, there are a great deal of ways our programming and optimization solutions can advance the industry, but we’re keeping our eyes on how to make them even stronger as technology advances.”

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