Sarcos Robotics, a Salt Lake City, UT-based global leader in the production of robots that augment humans to enhance productivity and safety, raised $40m in Series C financing round.
The round was led by Rotor Capital, with participation from existing investors. In addition to this fundraise, Sarcos is also announcing the appointment of two members to the company’s Board of Directors, including Brian Finn, Partner, Rotor Capital, and Cecilia Prieto, Division Vice President, Americas Land, Schlumberger.
The company intends to use the funds to begin commercial production of its Guardian® XO® industrial exoskeleton—a full-body, battery-powered wearable industrial robot designed to increase strength and endurance—scheduled for commercial release in 2021, and advance the development of the smart version of the Guardian XO exoskeleton with the Cybernetic Training for Autonomous Robots (CYTAR™) artificial intelligence platform, which will enable the robot to augment the operator’s precision and skill to complete specific tasks.
Led by Ben Wolff, chairman and CEO, Sarcos Robotics advances industrial robotic systems that augment human performance by combining human intelligence, instinct, and judgment with machines to enhance employee safety and productivity. Its mobile robotic systems include the Guardian® S, Guardian® GT, and Guardian® XO®.
The Guardian XO exoskeleton, which has been under development for more than 20 years, can safely lift up to 200 pounds for extended work sessions and applies to a myriad of industries such as aviation, manufacturing, warehousing, logistics, oil & gas, construction, defense, and others.
The company is the former the robotics division of a major defense contractor. It is now accepting orders for the Guardian XO exoskeleton and plans to deliver production units in 2021.
FinSMEs
01/09/2020