• Ally Robotics, a developer of smart robotic arms, has launched a crowdfunding campaign on equity crowdfunding platform WAX, targeting USD 8.5 million in seed funding. 

• The company intends to use the funds for product development and to support personnel and general expenses.

<ul><li>Ally Robotics is backed by restaurant automation company Miso Robotics and has also signed Miso as its first customer. Ally Robotics intends to supply robotic arm units for Miso Robotics’ product line “Flippy 2,” which could translate into USD 30 million in revenue. Ally Robotics claims its units can bring down the costs of the robotic arms used in Flippy by 30%.</ul>

<ul><li> Analyst QuickTake: Raising equity through crowdfunding is becoming increasingly popular and also successful in the restaurant industry robotics space. Startups that recently closed such campaigns include Miso Robotics (November 2021), smoothie-making robotic kiosk developer Blendid ( September 2021), and pasta-making robot developer DaVinci Kitchen (July 2021). Furthermore, pizza-making robot developer Piestro opened a Series A crowdfunding campaign, while Bobacino, a robotic boba tea bar developer, also extended its Series A crowdfunding round earlier this year.</ul>