<div>
  <ul>
    <li>
      <p>
        Vecna Robotics, a provider of autonomous mobile robots (AMR) and workflow orchestration software, has raised USD 65 million in a Series C round led by Tiger Global Management with participation from new investors Lineage Logistics, Proficio Capital Partners, and IMPULSE. This round brings the company&rsquo;s total funding to USD 128.5 million.
      </p>
    </li>
  </ul>
  <ul>
    <li>
      <p>
        The funds will be used to expand operations, further develop its software and AMR technology to support end-to-end automated material handling workflows, and develop Vecna&rsquo;s proprietary orchestration engine Pivotal to facilitate the integration with third-party autonomous solutions.
      </p>
    </li>
  </ul>
  <p>
    &lt;ul&gt;&lt;li&gt;
    <b>Analyst QuickTake: </b>
    This marks Vecna&rsquo;s first funding round in two years (USD 50 million was raised in Jan 2020) and it follows the appointment of 
    <a href="https://sp-edge.com/updates/428">
      Craig Malloy
    </a>
     as CEO, Daniel Theobald (previous CEO and founder) as chief innovation officer, and Josh Kivenko as chief marketing officer, in June last year. &lt;/ul&gt;
  </p>
</div>


<div>
  <p>
    <a href="https://www.vecnarobotics.com/vecna-robotics-announces-65-million-in-series-c-funding/">
      Vecna Robotics
    </a>
  </p>
</div>


Smart Factory

Vecna Robotics raises USD 65 million in Series C funding

<div>
 
 <p>Oden Technologies, a manufacturing analytics company, recently secured funding of USD 28.5 million in a Series B round. The round was led by Nordstjernan Growth and witnessed participation from Flat Capital, Oden Customer INX International, Atomico, and EQT Ventures.</p>
 
 <p>With this investment, the company intends to advance its product development, particularly enhancing its AI products for the manufacturing industry. It also seeks to improve data accuracy, disseminate domain knowledge, and expand recommendation capabilities. </p>
 
</div>

Oden Technologies raises USD 28.5 million in Series B funding

<div>
 
 <p>Collaborative Robotics, a cobots manufacturer, secured USD 100 million in a Series B funding round. General Catalyst led the round, with Bison Ventures, Industry Ventures, Lux Capital, Sequoia Capital, Khosla Ventures, and Mayo Clinic also participating. The company's total funding now exceeds USD 140 million.</p>
 
<p>Plans for the raised funds include increasing the company's employee base and enhancing its commercial deployments.</p>
 
</div>

Collaborative Robotics raises USD 100 million in Series B funding for team expansion and product deployment

<div>
 
 <p>AI-based computer vision platform Robovision has successfully raised USD 42 million in a funding round led by Target Global and Astanor Ventures, also supported by Red River West. This new injection of funds increases the company's total funding to USD 65 million.</p>
 <p>Robovision plans to allot the funds to its expansion plans into the US market, as well as bolstering growth in its existing markets. The funding will also support further research and development activities. Furthermore, the company intends to establish new offices in key locations including France, Germany, the United Kingdom, the Middle East, and several parts of Asia.</p>
 <p>Operating from Belgium, Robovision provides a unique no-code platform that empowers machinery manufacturers and production managers to create and manage AI models for computer vision. Users have the ability to upload their data and develop custom models trained for image classification, object detection, instance segmentation, semantic segmentation, and anomaly detection.</p>
 
</div>

Robovision raises USD 42 million in latest funding for market expansion

<div>
 
 <p>Viam, an open-source platform for managing smart devices and machines, has secured USD 45 million in a series B funding round. The funding round saw participation from existing investors, Union Square Ventures and Battery Ventures. As a result, the company's total funding to date has climbed to USD 87 million.</p>
 <p>The funds raised are projected to be used for securing new partnerships and driving the development of Viam's software platform.</p>
 <p>The service offered by Viam entails an open-source platform that has been tailored to integrate and manage a variety of devices such as machines, sensors, and IoT devices. Supported applications on the platform span from AI model deployment, predictive maintenance, to fleet management among others. Furthermore, the platform facilitates interoperability and enhanced data analysis across an array of machine types.</p>
 
</div>

Viam raises USD 45 million in Series B funding for partnership expansion and product development

ANALYST_QUICK_TAKE

PROMINENT_CATEGORY

<div>
 <p>Locus Robotics, a firm that makes autonomous mobile robots for warehouses, has unveiled "LocusHub." This new cloud-based business intelligence service uses AI and Machine Learning for advanced analytics aimed at improving warehouse processes.</p>
 <p>LocusHub provides several key features such as descriptive analytics, customizable fleet management, AI-driven actionable insights, predictive modeling, advanced data filtering, and permission-based access. This service is based on the company's proprietary platform, LocusOne.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> The introduction of LocusHub is set to enhance the efficiency of Locus Robotics' suite of products. It strategically positions the company for heightened competitiveness, particularly against peers such as <a href="https:<br>
//sp-edge.com/companies/465313"> Geek+, </a> which similarly integrates a data platform with its robotics solutions for comparable applications.</p>

Locus Robotics launches ‘LocusHub,’ a business intelligence engine

<div>
 
 <p>Covariant has launched RFM-1, a robotics foundation model allowing users to create versatile AI models that operate under realistic scenarios.</p>
 <p>The system is trained on diverse sources, including internet content like text, images, videos, physical robot activities, and numerical sensor data.&nbsp;</p>
 <p>RFM-1's potential applications include language-directed robot programming, simulation production, and object recognition. Users can input text commands for tasks like identifying and collecting an item, which the system then executes.</p>
 
</div>

Covariant Introduces RFM-1, a robotics foundation model

<div>
 
 <p>RIOS, a company that provides solutions in robotic automation, has successfully raised 13 million dollars in a Series B funding round. The round was jointly led by Yamaha Motor Corporation and IAG Capital Partners, with additional participation from Main Sequence. This has increased the company's total funding to an impressive 51.5 million dollars.</p>
 <p>The funds from this round will be dedicated towards supporting the expansion of RIOS into new sectors such as wood products, beverage distribution, and the packaging of food products. Moreover, the company has plans to introduce its AI and vision-enabled robotics solutions, with an initial focus on sectors dealing with lumber and plywood handling.</p>
 
</div>

RIOS raises USD 13 million in Series B funding for product expansion

<div>
 
 <p>Assemblio, a German-based assembly plan automation platform, recently raised EUR 2.1 million (USD 2.3 million) in seed funding. The investment round saw participation from LEA Partners, Mätch VC, Cross Atlantic Angels, Silver Scale, and Integra.</p>
 <p>These funds will be directed towards further expansion, and product development initiatives.</p>
 <p>Assemblio's platform utilizes AI technology, allowing users to create digital assembly plans. It is capable of processing CAD files of products, disassembling them digitally, and subsequently generating an assembly plan. Such plans can be presented in formats such as PDFs, video tutorials, or interactive 3D step-by-step instructions.</p>
 
</div>

Assemblio raises EUR 2.1 million in seed funding for expansion and product development

<div>
 
 <p>The analytics platform provider, Elevated Signals, has successfully gained new funding worth USD 7.9 million in a Series A funding round. This was led by Yaletown Partners, and also saw participation from other entities such as Third Kind Venture Capital, WGD Capital, Colin Harris, Raiven Capital, and Pareto Holdings.</p>
 <p>Looking ahead, the Vancouver-based company aims to use this latest injection of funds to grow its platform, push ahead with further product development, and bring new personnel into its leadership team.</p>
 <p>The company, Elevated Signals, specializes in providing a cloud-based platform particularly designed for manufacturing businesses. Its unique offering incorporates features such as digital batch record-keeping, granular inventory accounting, real-time information tracking, and data analytics. The target market includes small to medium-sized enterprises from various industries, including controlled environment agriculture, natural health product manufacturing, critical minerals recovery, and mining.&nbsp;</p>
 
</div>

Elevated Signals raises CAD 7.9 million in Series A funding

<div>
 
 <p>Olis Robotics, a firm focused on remote monitoring, control, and error recovery solutions for industrial robots, is collaborating with Kawasaki Robotics, an innovator in industrial robots and automation technology. This partnership aims to offer Olis's remote monitoring and error recovery solution to Kawasaki robots.</p>
 <p>According to the company, this cooperation will allow Kawasaki robot users to monitor, access, and recover robot cells remotely in a cost-effective manner. Furthermore, Olis’ remote support functions will be made available to Kawasaki’s integrator network through this partnership.</p>
 <p>By the second quarter of 2024, this solution will be accessible for all Kawasaki robot models.</p>
 
</div>

All Updates