Soft Robotics Secures $10M Funding Amid Pandemic Demand

Soft Robotics Secures Additional Funding for Automation Solutions

The growing interest in automation, accelerated by recent global events, has led to increased investment in companies like Soft Robotics. Based in New England, the company has announced a $10 million funding extension.

This extension builds upon the $23 million Series B funding round declared in January of the previous year, bringing the company’s total raised capital to approximately $58 million.

Investment Details and Key Participants

Material Impact, Scale Venture Partners, and Calibrate Ventures spearheaded the latest funding round. Existing investors, including Tekfen Ventures and the prominent industrial robotics manufacturer ABB, also participated.

Notably, Tyson Ventures, the investment arm of Tyson Foods, has also joined as an investor. Tyson Foods is currently a client of Soft Robotics.

Addressing Challenges in Food Automation

Founded in 2013, Soft Robotics distinguishes itself through its innovative approach to robotic picking. The company utilizes a soft, pneumatically powered gripper specifically designed for handling delicate food items.

Traditional rigid robotics can often cause damage to fragile foodstuffs. This technology is particularly relevant given the increased demand for automation within the food industry, driven by labor shortages and health safety concerns.

The Technology Behind Soft Robotics

“Current industrial robots struggle with the variability of products and the unstructured environments common in the food supply chain – including agriculture, processing, and logistics,” explained Mark Chiappetta, COO of Soft Robotics.

“Our groundbreaking soft grasping, combined with 3D perception and AI technologies, enables robotic automation by enhancing standard industrial robots with precise hand-eye coordination. This allows them to execute tasks previously limited to human workers.”

Tyson Foods’ Perspective

Rahul Ray of Tyson Ventures stated, “Tyson Ventures consistently seeks out innovative automation technologies to improve safety and boost team member productivity.”

“Soft Robotics’ leading-edge robotic technology, computer vision, and AI platform hold the potential to revolutionize the food industry and are crucial for companies pursuing automation.”

The company’s solutions are poised to play a significant role in the future of food production and handling.