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Chinese and U.S. corporations led March 2024 robotics investments. Credit: Eacon Mining, Dan Kara
Thirty-seven robotics companies acquired funding in March 2024, pulling in a complete month-to-month funding of $642 million. March’s funding determine was considerably lower than February’s mark of roughly $2 billion, nevertheless it was in step with different month-to-month investments in 2023 and early 2024 (see Figure 1, under).
California corporations safe funding
As described in Table 1 under, the 2 largest robotics investments in March had been secured by software program suppliers. Applied Intuition, a supplier of software program infrastructure to deploy autonomous automobiles at scale, acquired a $250 million Series E spherical, whereas Physical Intelligence, a developer of basis fashions and different software program for robots and actuated gadgets, attracted $70 million in a seed spherical. Both companies are positioned in California.
Other California companies receiving substantial rounds included Bear Robotics, a producer of self-driving indoor robots that raised a $60 million Series C spherical, and unmanned aerial system (UAS) developer Firestorm, whose seed funding was $20 million. For a PDF model of Table 1, click on right here.
March 2024 robotics investments
| Company | Amount ($) | Round | Country | Technology |
|---|---|---|---|---|
| Agilis Robotics | 10,000,000 | Series A | China | Surgical/interventional programs |
| Aloft | Estimate | Other | U.S. | Drones, information acquisition / processing / administration |
| Applied Intuition | 250,000,000 | Series E | U.S. | Software |
| Automated Architecture | 3,280,000 | Estimate | U.Okay. | Micro-factories |
| Bear RoboBear Roboticstics | 60,000,000 | Series C | U.S. | Indoor cell platforms |
| BIOBOT Surgical | 18,000,000 | Series B | Singapore | Surgical programs |
| Buzz Solutions | 5,000,000 | Other | U.S. | Drone inspection |
| Cambrian Robotics | 3,500,000 | Seed | U.Okay. | Machine imaginative and prescient |
| Coctrl | 13,891,783 | Series B | China | Software |
| DRONAMICS | 10,861,702 | Grant | U.Okay. | Drones |
| Eacon Mining | 41,804,272 | Series C | China | Autonomous transportation, sensors |
| ECEON Robotics | Estimate | Pre-seed | Germany | Autonomous forklifts |
| ESTAT Automation | Estimate | Grant | U.S. | Actuators / motors / servos |
| Fieldwork Robotics | 758,181 | Grant | U.Okay. | Outdoor cell manipulation platforms, sensors |
| Firestorm Labs | 20,519,500 | Seed | U.S. | Drones |
| Freespace Robotics | Estimate | Other | U.S. | Automated storage and retrieval programs |
| Gather AI | 17,000,000 | Series A | U.S. | Drones, software program |
| Glacier | 7,700,000 | Other | U.S. | Articulated robots, sensors |
| IVY TECH Ltd. | 421,435 | Grant | U.Okay. | Outdoor cell platforms |
| KAIKAKU | Estimate | Pre-seed | U.Okay. | Collaborative robots |
| KEF Robotics | Estimate | Grant | U.S. | Drone software program |
| Langyu Robot | Estimate | Other | China | Automated guided automobiles, software program |
| Linkwiz | 2,679,725 | Other | Japan | Software |
| Motional | Estimate | Seed | U.S. | Autonomous transportation programs |
| Orchard Robotics | 3,800,000 | Pre-seed | U.S. | Crop administration |
| Pattern Labs | 8,499,994 | Other | U.S. | Indoor and outside cell platforms |
| Physical Intelligence | 70,000,000 | Seed | U.S. | Software |
| Piximo | Estimate | Grant | U.S. | Indoor cell platforms |
| Preneu | 11,314,492 | Series B | Korea | Drones |
| QibiTech | 5,333,884 | Other | Japan | Software, operator companies, uncrewed floor automobiles |
| Rapyuta Robotics | Estimate | Other | Japan | Indoor cell platforms, autonomous forklifts |
| RIOS Intelligent Machines | 13,000,000 | Series B | U.S. | Machine imaginative and prescient |
| RITS | 13,901,825 | Series A | China | Sensors, software program |
| Robovision | 42,000,000 | Other | Belgium | Computer imaginative and prescient, AI |
| Ruoyu Technology | 6,945,312 | Seed | China | Software |
| Sanctuary Cognitive Systems | Estimate | Other | Canada | Humanoids / bipeds, software program |
| SeaTrac Systems | 899,955 | Other | U.S. | Uncrewed floor vessels |
| TechMagic | 16,726,008 | Series C | Japan | Articulated robots, sensors |
| Thor Power | Estimate | Seed | China | Articulated robots |
| Viam | 45,000,000 | Series B | Germany | Smart machines |
| WIRobotics | 9,659,374 | Series A | S. Korea | Exoskeletons, shopper, house healthcare |
| X Square | Estimate | Seed | U.S. | Software |
| Yindatong | Estimate | Seed | China | Surgical / interventional programs |
| Zhicheng Power | Estimate | Series A | China | Consumer / family |
| Zhongke Huiling | Estimate | Seed | China | Humanoids / bipeds, microcontrollers / microprocessors / SoC |
Drones get gas for takeoff in March 2024
Providers of drones, drone applied sciences, and drone companies additionally attracted substantial particular person investments in March 2024. Examples included Firestorm and Gather AI, a developer of stock monitoring drones whose Series A was $17 million.
In addition, drone companies supplier Preneu obtained $11 million in Series B funding, and DRONAMICS, a developer of drone expertise for cargo transportation and logistics operations, received a grant price $10.8 million.
Companies in U.S. and China acquired nearly all of the March 2024 funding, at $451 million and $100 million, respectively (see Figure 2, under).
Companies primarily based in Japan and the U.Okay. had been additionally nicely represented among the many March 2024 funding totals. Four corporations in Japan secured a complete of $34.7 million, whereas an equal variety of companies within the U.Okay. attracted $13.5 million in funding.
Nearly 40% of March’s robotics investments got here from a single Series E spherical — that of Applied Intuition. The remaining funding lessons had been all represented in March 2024 (Figure 3, under).
Editor’s notes
What defines robotics investments? The reply to this straightforward query is central in any try to quantify them with a point of rigor. To make funding analyses constant, repeatable, and helpful, it’s important to wring out as a lot subjectivity as potential through the analysis course of. This begins with a definition of phrases and an outline of assumptions.
Investors and investing
Investment ought to come from enterprise capital companies, company funding teams, angel buyers, and different sources. Friends-and-family investments, authorities/non-governmental company grants, and crowd-sourced funding are excluded.
Robotics and clever programs corporations
Robotics corporations should generate or anticipate to generate income from the manufacturing of robotics merchandise (that sense, analyze, and act within the bodily world), {hardware} or software program subsystems and enabling applied sciences for robots, or companies supporting robotics gadgets. For this evaluation, autonomous automobiles (together with applied sciences that help autonomous driving) and drones are thought of robots, whereas 3D printers, CNC programs, and numerous varieties of “laborious” automation aren’t.
Companies which might be “robotic” in identify solely, or use the time period “robotic” to explain services and products that don’t allow or help gadgets performing within the bodily world, are excluded. For instance, this contains “software program robots” and robotic course of automation. Many companies have a number of places in several nations. Company places given within the evaluation are primarily based on the publicly listed headquarters in authorized paperwork, press releases, and many others.
Verification
Funding info is collected from a number of private and non-private sources. These embrace press releases from firms and funding teams, company briefings, market analysis companies, and affiliation and business publications. In addition, info comes from classes at conferences and seminars, in addition to throughout personal interviews with business representatives, buyers, and others. Unverifiable investments are excluded and estimates are made the place funding quantities aren’t supplied or are unclear.
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