Cybernetix Ventures, a Boston, MA-based independent venture capital firm investing in early-stage robotics, automation and AI technology companies, has launched its first $50m global fund.
Cybernetix Fund I will focus on pre-seed, seed and Series A investments into companies in the US and around the world developing robotics solutions for manufacturing, logistics, construction, and healthcare verticals. The fund will also invest in key robotics-enabling software companies in AI/machine learning, cloud robotics, cybersecurity, autonomy and sensors/edge computing.
The fund’s general partner Fady Saad is an MIT alumnus and co-founder of MassRobotics, a robotics startup escalator in the United States, supporting more than 60 resident startups at its Boston shared office and laboratory facility. He conducted MassRobotics’ corporate partnership and scaling program, building formal partnerships with more than 40 corporates. Saad also brings international business management and development experience from multinational technology firms Siemens and Nokia.
General Partner Mark Martin, a Cornell and Tufts University alumnus, has been an investor, board observer and advisor for over 20 startups in SaaS, IoT and sensor technologies. As a VP of industrial automation, sensors and IoT at Analog Devices, he led an organization with over 600 employees and $1 billion annual revenue.
Cybernetix portfolio companies will benefit from the fund’s access to the robotics ecosystem, corporate relationships, deep industry knowledge and insights, and other critical finance, business and manufacturing resources.
The firm’s advisory board consists of seven distinguished leaders in their respective fields:
- Steve Ricci: former partner at Flagship Ventures, and former president of the New England Venture Capital Association, bringing more than 30 years of early stage venture capital investment experience.
- Helen Greiner: co-founder, former chairman and president of pioneering robotics company iRobot and CEO of Tertill, a recognized leader in the robotics field for more than 35 years.
- Peter Wurman: co-founder and former CTO of Kiva Systems, a manufacturer of mobile robotic fulfillment systems acquired by Amazon and rebranded to Amazon Robotics. He is currently Sony’s AI America director and was inducted into the National Inventors Hall of Fame in 2020.
- Rick Faulk: CEO of Locus Robotics and former CEO of Quiet Logistics, has more than 30 years of experience in the logistics industry.
- Elaine Chen: a well-known roboticist, currently director of the Derby Entrepreneurship Center at Tufts University and former entrepreneur-in-residence at the Martin Trust Center for MIT Entrepreneurship.
- Amar Sawhney: prolific serial entrepreneur in the medical devices industry, currently CEO of Pramand, CEO and Chairman of Instylla. Some of his previous companies were acquired by Boston Scientific, Covidian and Genzyme.
- Dennis Clarke: Chairman and CEO of Boston-based commercial real estate development company, Cummings Properties, and brings a wealth of experience in the construction industry.
Cybernetix Ventures has already built an investment portfolio of early stage robotics and AI companies covering their target technology and market sectors.
FinSMEs
04/05/2022