Soft Robotics Raises $23M in Series B Funding

Soft Robotics

Soft Robotics, Inc., a Bedford, Mass.-based robotics company, raised $23m in Series B funding round.

The round was co-led by Calibrate Ventures and Material Impact with participation from existing investors Honeywell, Hyperplane, Scale, Tekfen Ventures, and Yamaha, as well as new investor FANUC Corp.

The company intends to use the funds to continue to expand the reach of its solutions.

Led by Carl Vause, CEO, Soft Robotics provides robotic automation solutions for factories. Powered by advanced material science and AI, the company’s gripping solutions adapt to manufacturing supply chain without the cost and complexity of traditional robotic systems. Since inception, its technology platform has experienced substantial customer validation and adoption, with production installations running 24/7 for global customers in food & beverage, advanced manufacturing and e-commerce, and more. The company previously announced a strategic partnership with FANUC to integrate its mGrip adaptable gripper system with any FANUC robot through the deployment of a new controller.

In addition to bringing proven solutions in food packaging and consumer goods manufacturing, Soft Robotics is working with e-commerce, logistics, and retail customers to address the high cost of online returns logistics. With the technology’s ability to handle unstructured and delicate items, the company help automate reverse logistics.

FinSMEs

20/01/2020

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