Rapid Robotics offers manufacturing automation solutions using vision-enabled robotics technology to help enhance its customers’ speed, service, and savings. Some of its use cases are machine tending, packaging, labeling and filling, metal punching, and air cleaning semiconductor parts. The company claims that its AI-powered robotic arm Rapid Machine Operator can perform ~80% of the tasks done on a typical factory floor.
Its product is mainly targeted toward small manufacturers who face labor shortages and are looking for affordable methods to increase productivity through automation. The system is available under the RaaS (robotics as a service) model for USD 3,750 per month per robot in the first year and USD 2,100 per month thereafter, including support and maintenance.
Key customers and partnerships
Rapid Robotics' customers include Delphon, Westec Plastics Corporation, and Topcon.
Funding and financials
In August 2021, Rapid Robotics raised USD 36.7 million in a Series B funding round led by Tiger Global Management and Kleiner Perkins. The funds were to be used for further development of its robotic arm.
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