Attack of the $200M Robotic Raises - Latest News

Recent Investment Trends in Robotics

A noteworthy degree of synchronicity has emerged this week, with two Chinese robotics companies each securing $200 million in funding. This highlights the rapid growth within the robotics ecosystem, offering glimpses into ongoing innovation. The sheer number of companies operating in China’s robotics sector makes tracking advancements challenging, but these substantial funding rounds are certain to generate attention.

Impact of the COVID-19 Pandemic

The COVID-19 pandemic is expected to significantly accelerate the adoption of robotics in China. This follows major disruptions to global supply chains caused by manufacturing shortages. However, this week’s funding announcements indicate a broadening of automation beyond traditional manufacturing processes.

Hai Robotics Secures Significant Funding

Hai Robotics garnered considerable attention with the announcement of a combined Series C and D funding round totaling $200 million. Located in Shenzhen, a central hub for China’s manufacturing industry, the company specializes in warehouse and fulfillment robotics.

The company already boasts a substantial international presence, with deployments in 30 countries, including a recent partnership with Booktopia, a prominent Australian online bookseller.

Investment Details

5Y Capital and Capital Today spearheaded the Series C and D rounds, respectively. Additional investors included Sequoia Capital China, Source Code Capital, VMS, Walden International, and Scheme Capital. These funds will be allocated to expanding Hai Robotics’ international reach and strengthening its position within the Chinese market.

Keenon Robotics Expands Service Robot Offerings

Keenon Robotics’ $200 million Series D round received somewhat less publicity. SoftBank Vision Fund 2 led the investment, with participation from CICC ALPHA and Prosperity7 Ventures. The company focuses on service robots, similar to the robo-waiters developed by California-based Bear Robots.

This represents a significant industry in its own right, and Keenon is actively diversifying its applications to include hotels and hospitals.

Global Deployment and Future Plans

Keenon reports deployments in the U.S., Europe, South Korea, and Singapore. The newly acquired funding will be used to further expand its global footprint.

“We believe robotic solutions can have a profound impact across the services industry by assisting with repetitive, tedious workflows,” stated Kentaro Matsui of SoftBank in a press release. “By combining AI and machine learning with advanced manufacturing capabilities, Keenon is developing innovative robotics to enhance productivity in restaurants, hotels, and hospitals both in China and worldwide.”

Locus Robotics Acquires Waypoint Robotics

Locus Robotics, a frequent participant in robotics news, has agreed to acquire Waypoint Robotics after receiving a substantial influx of capital. Waypoint Robotics operates within the same warehouse robotics category as Locus.

Waypoint’s primary product, Vector, is an autonomous, omnidirectional robot capable of transporting payloads up to 300 pounds.

Strategic Acquisition and Expansion

“Locus is the proven leader in the development of highly productive and innovative AMR technology that efficiently addresses our customers’ needs for total warehouse optimization,” said Locus CEO Rick Faulk. “The acquisition of Waypoint Robotics will accelerate our ability to meet growing global demands for warehouse solutions, enabling us to drive the digital transformation of the warehouse in a matter of months rather than years.”

Locus secured $150 million in Series E funding in February and an additional $50 million this month, demonstrating its commitment to building a comprehensive fulfillment ecosystem potentially competitive with Amazon’s offerings.

Hyundai and Boston Dynamics Collaboration

The initial results of Boston Dynamics’ acquisition by Hyundai are now visible. The “Factory Safety Service Robot,” a customized version of the Spot robot, is designed to patrol factories, beginning with a pilot program at a Kia plant in Seoul.

Equipped with lidar and a thermal camera, the robot can autonomously navigate the factory floor or be remotely controlled via a web browser.

Nvidia and Open Robotics Partnership

Nvidia and Open Robotics have announced a partnership poised to benefit both organizations. The collaboration aims to seamlessly integrate Nvidia’s Jetson development platform with Open Robotics’ ROS 2 software. This integration is intended to expedite the development process for roboticists utilizing Nvidia’s perception technology.

“As more ROS developers leverage hardware platforms with additional compute capabilities to offload the host CPU, ROS is evolving to facilitate efficient utilization of these advanced hardware resources,” explained Open Robotics CEO Brian Gerkey. “Collaborating with an accelerated computing leader like NVIDIA and leveraging its extensive experience in AI and robotics innovation will deliver substantial benefits to the entire ROS community.”

RoboDeck at Disrupt

During this year’s Disrupt event, RoboDeck, a deck maintenance robot, is competing in the Startup Battlefield. The company’s product, described as “Roomba, but for resealing your deck,” utilizes mapping technology to identify surface boundaries and prevent accidental falls.

Currently, RoboDeck has a prototype capable of covering 500 square feet on a single charge. The company plans to offer the devices through a rental-as-a-service (RaaS) model. To date, RoboDeck has raised $500,000, primarily from SOSV.