Standard Bots, a NYC-based company which specializes in robotics automation, raised $63M in funding.
The round was led by General Catalyst with participation from Amazon Industrial Innovation Fund and Samsung Next. As part of this round, Max Rimpel of General Catalyst will join the company’s board alongside existing board member and lead seed investor Itai Tsiddon.
The company intends to use the funds to expand its engineering team, accelerate the development of its series of next-generation robots in new sizes, and enhance the proprietary platform that makes these robots intuitive for everyday use.
Standard Bots designs and assembles collaborative robotic arms for industrial sectors such as manufacturing. The company is also developing a transformer-based model that leverages AI to enhance robotic capabilities. By observing human demonstrations, it empowers robots to master intricate tasks from loading complex welding fixtures to folding clothing with precision. Standard Bots’ RO1 and RO2 robotic arms are currently in production and are designed for high variability and challenging real-world applications.
FinSMEs
15/07/2024