Collaborative Robotics Secures $100m; the Newest Robot Firm to Make Significant Gains

Collaborative Robotics Secures $100m; the Newest Robot Firm to Make Significant Gains

11 April 2024 – Despite a stagnating venture capital market, Collaborative Robotics became the latest robotics firm to earn a huge nine-figure investment. $100 million was secured by the Santa Clara, California-based business in a Series B headed by General Catalyst. Along with Bison Ventures, Industry Ventures, and Lux Capital, it also included previous investors Sequoia Capital, Khosla Ventures, Mayo Clinic, Neo, 1984 Ventures, MVP Ventures, and Calibrate Ventures.

“Investing today and deploying our first robots in the field earlier this year are significant steps towards integrating cobots with human-level capabilities into today’s industries,” said founder and CEO Brad Porter, a former vice president of robotics at Amazon. 

Increased robot deployment results in enhanced artificial intelligence and a more economical supply chain, creating a positive feedback loop. We will be able to introduce more robots into the real world more quickly thanks to this investment.


Conclusion

The funding round is only the most recent large-scale fundraising for a robotics business, as investors’ interest has been piqued by the fact that many of the robots under development use artificial intelligence. Per Crunchbase records, this is the fifth-largest round of funding awarded to a firm of that kind this year. Figure, a startup located in Sunnyvale, California, received an incredible $675 million in February at a pre-money value of around $2 billion.