Robotic technology will shape the world for better efficiency.

The Robotic Industry is changing the landscape of work in the modern era. Right from automation in every industry to autonomous surgeries in healthcare, robotics is now becoming capable of handling intricate responsibilities and repetitive tasks and perform them without errors. This is one of the reasons, industries are increasing their dependency on robotics. While this indicates the future of the industry, many organizations and startups are leveraging this demand to create innovative solutions.

Here are the robotic companies that received funding in the month of July to carry on their work and research.

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1. Realtime Robotics

Realtime Robotics is an autonomous industrial robotics company. The company offers real-time, collision-free motion planning that enables users to leverage robotic control technology to navigate applications. With just minimal programming, users can control the functioning of robots across multiple deployments. Realtime Robotics raised US$31.4 million in its Series A round. The funding was led by HAHN Automation for the purpose of improving robotic capabilities.

2. Verve Motion

Verve Motion pioneers connected wearable technology for the industrial sector. It accompanies robotics into functional apparel and boosts worker safety and wellbeing with their technology. The company recently announced that it has raised US$15 million in Series A funding which was led by Construct Capital along with Founder Collective, Pillar VC, Safar Partners, OUP, and other angel investors.

3. Seoul Robotics

Seoul Robotics is a 3D computer vision company that innovates intelligent robotic perception systems using artificial intelligence and machine learning. The company’s first commercial model, Discovery, made its debut in the US market, earlier this year. It is an all-in-one sensor and software platform that expands access, reduces costs, and simplifies the implementation of LiDAR-powered solutions in several applications for smart cities, smart, factories, and logistic mobility. Seoul Robotics was selected as an Innovative Icon startup for all its efforts and received a US$12 million investment from the Korean Government.

4. Fetch Robotics

Not so much of an investment, but a business firm, Zebra Technologies is planning to acquire Fetch Robotics, a cloud-driven autonomous mobile robot startup. This acquisition aims to boost Zebra Technologies Enterprise Asset Intelligence vision and growth in industrial automation. This will align with Zebra Technology’s focus on robotics and change the infrastructure of the industry with seamless integration.

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These Artificial Intelligence Companies, Now have the Funding to Innovate

The rate at which artificial intelligence is advancing is shaping the world around us. From automation to drug development and diagnosis, there is no industry that AI has not taken over. Like the silver lining to a dark cloud, the chaos created by COVID-19 pandemic has made organizations realize the power of artificial intelligence and are gearing up to invest heavily. Many renowned investors and Fortune 500 companies are also backing up budding AI companies that show promising growth potential. For the month of June in 2021, these are the AI companies that received heavy funding. For information on AI investments in April and May, check out this link.  

Top AI funding in June

CoffeeMug.ai

Transaction type: Pre-seed

Key investor(s): Paradigm Shift Capital and AngelList India

Singapore based AI professional networking platform, CoffeeMug.ai has raised US$625,000 in pre-seed funding round. Govind Mundhra, Founding General Partner of Paradigm Shift Capital, one of the key investors, will be joining the board of directors of CoffeeMug.ai. As per official reports, CoffeeMug will use these funds to accelerate its efforts to improve its AI-based matchmaking algorithm, double its user base and connect them with leadership level business opportunities.

Upside AI

Transaction type: Seed money

Key investor: Endiya Partners

Mumbai-based investment management startup, Upside AI, raised US$1.2 million in seed funding. Led by venture capital fund Endiya Partners, Upside AI plans to use the funds to fill up leadership positions and other senior roles. According to its cofounder Atanuu Agarrwal, the company intends to add 1,000 high net worth individuals, family offices, and institutional clients.

Eightfold AI

Transaction type: Series E

Key investors: SoftBank Vision

Eightfold AI is a talent-based intelligence platform provider based out of California. In the Series E funding round led by SoftBank Vision, with participation from General Catalyst, Capital One Ventures, Foundation Capital, IVP, and Lightspeed Venture Partners, Eightfold AI raised US$220 million. The company intends to use the total funding to promote further growth and development, and expand its partner ecosystem.

Gloat

Transaction type: Series C
Key investor(s): Accel, Eight Roads Ventures, Intel Capital, Magma, PICO

Gloat is an AI-enabled talent marketplace platform. Headquartered in New York, Gloat has expanded its offices globally, with an R&D center in Tel Aviv. The company assists companies in connecting their employees with development opportunities like projects and mentorship programs. In a Series C funding round co-led by Accel, Eight Roads Ventures, Intel Capital, Magma Venture Partners, and PICO partners, Gloat raised US$57 million which will be used to accelerate product innovation.

Cleerly

Transaction type: Series B

Key investor: Vensana Capital

Cleerly is a New York City-based company, that uses AI and machine learning algorithms to diagnose coronary artery disease. The company has developed a software platform that facilitates whole-heart quantification and characterization of atherosclerosis. Unlike traditional techniques that take hours, Cleerly’s software can perform the diagnosis in a matter of minutes, noninvasively. Led by Vensana Capital, Cleerly raised US$43 million in Series B funding, which will be used to scale its commercial reach, expand capabilities, strategic partnerships, and focus on R&D.

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