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Recent Investments and Shifts in Robotics

A significant investment of $100 million was recently made in Path Robotics, a noteworthy sum particularly considering their $56 million funding round just two and a half months prior. This demonstrates Path Robotics’ commitment to its goals and signals confidence from Tiger Global in the welding robotics company.

This “pre-emptive” Series C funding elevates Path Robotics’ total funding to $171 million, positioning it among the leading construction robotics companies in terms of capital raised. The global construction market, valued in the tens of trillions of dollars annually, offers substantial opportunities for innovation.

Path Robotics' Ambitions

Path Robotics’ funding indicates aspirations extending beyond welding applications. However, welding represents a strong initial focus, addressing a critical labor shortage of approximately 400,000 jobs in the U.S. anticipated by 2024.

Griffin Schroeder, a partner at Tiger Global, acknowledged a potential risk associated with rapid expansion for startups, even those with substantial funding like Path Robotics.

Verve Motion Secures Funding

Verve Motion recently completed a $15 million funding round, following closely on the heels of Path Robotics’ larger investment. The company originated as a spinout from research conducted at Harvard’s Wyss Institute and the John A. Paulson School of Engineering and Applied Sciences.

Verve Motion is developing exoskeletons and exosuits, targeting two primary user groups: individuals with mobility challenges and the blue-collar workforce. Currently, their focus is on the latter, creating soft exosuits designed to mitigate workplace injuries caused by repetitive tasks like lifting.

This technology aligns well with the concept of tackling jobs that are dull, dirty, and dangerous.

OpenAI Disbands Robotics Team

OpenAI made the decision to disband its robotics team in October of the previous year, a move recently reported by Venture Beat. The team was notably known for its robotic hand capable of solving Rubik’s Cubes, though the project ultimately proved to be a developmental dead end.

A spokesperson from OpenAI confirmed the team’s dissolution.

Softbank Reconsiders Pepper Robot

Reports regarding the discontinuation of Softbank’s Pepper robot have been contested by the source. While the robot did not achieve the firm’s initial expectations, Softbank intends to revisit its design and continue sales.

According to Kazutaka Hasumi, Softbank Robotics CMO, Pepper will remain available for purchase for at least the next five years. Despite its pedigree, stemming from Softbank’s acquisition of Aldebaran, Pepper’s practical utility as a robot was limited.

The company is currently exploring potential redesigns, though it remains uncertain whether these changes will significantly improve the robot’s functionality.