Robotics startup company Soft Robotics has secured its Series B round of funding, allocating $23 million driven by Calibrate Ventures and Material Impact.
Specifications About The Investment
This includes participation from existing investors involving Honeywell, Yahama, Hyperplane, and many more.
This series also draws in FANUC, the world’s biggest maker of industrial robots and a lately announced decisive partner for Soft Robotics.
The company stated in a press release declaring this newest round of financing that the series was oversubscribed.
This implies that it isn’t seeing to fill itself on capital investors, given that this $23 million follows a likewise sized $20 million round that concluded in 2018, which is also related to as “oversubscribed.”
Earlier to that, Soft Robotics had put $5 million in a Series A round concluded in 2015.
It has loads of large, global customers now, so it’s apparently not hurting for income.
What Is Soft Robotics?
Soft Robotics is centered on improving robotic grippers that, as you might have imagined from the title, make use of soft material endpoints that can more simply grip a series of various objects without the kind of remarkably specific and tolerance-allergic complex programming that is needed for most typical industrial robotic claws.
With its 2018 financing raise, Soft Robotics said that it was developing more into food and beverage, as well as increasing down on its appearance in the retail and logistics businesses.
This round and its latest partnership with FANUC (which includes a new integrated system that matches its mGrip robotic gripper with a different Mini-P controller, all with easy integration to FANUC’s enduring lineup of industrial robots) will give it essential and functional access to what is the most influential industrial robotics firm in the world.
This round will particularly help Soft Robotics contribute on growth, seeming to expand its variability even further and run on developing its food packaging and customer goods applications, along with diving into e-commerce and logistics – primarily to help automate and increase the returns process, an expensive and ever-growing hurdle as more retail goes online.
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