Manufacturing Tech startups close funding events before the good times end. Big data and analytics applications cross cut all industry verticals.
Anduril Raises $1.48 Billion in Series E Funding
Defense technology company Anduril Industries today announced $1.48 billion in Series E funding, valuing the company at $8.48 billion, nearly doubling the company’s previous valuation in June 2021. The new funding will enable Anduril to accelerate research and development to bring new, cutting edge, autonomous defense capabilities to the market and continue to mature and scale its current business lines with the US Department of Defense as well as US allies and partners.
The problems US and allied militaries are facing are fundamentally software problems. To continue to enable the US, allies and partners to deter adversaries, Anduril is building software-defined and hardware-enabled capabilities that solve mission needs with autonomy, today. Autonomous systems will enable the military to operate faster and at greater scale across both tactical and strategic operations.
Specialty chemicals startup Covvalent raises $4.3 million in seed funding from Nexus VP, others
Gurugram-based startup Covvalent, which operates in the B2B speciality chemicals space, has raised $4.3 million in a seed funding round led by Nexus Venture Partners. The startup, founded this year by IIT Kharagpur alumni Sandeep Singh and Arush Dhawan, operates as a tech-enabled managed marketplace for speciality chemicals such as pigments, resins, additives, binders and polymers.
RailVision Raises US$4MM in Seed Funding to Lower Fuel Costs and Greenhouse Gas Emissions in the Railway Industry
RailVision Analytics, the company powering the railway industry into a new era of cleantech, announced today it has closed a US$4 million (CAD$5.5 million) seed funding round from investors that back entrepreneurs building the future of transportation. The investment – which was more than two times oversubscribed – was led by Trucks Venture Capital with participation from new investors MUUS Climate Partners, Blackhorn Ventures, Incite.org, and Measured Ventures, and returning investors Active Impact Investments and Neil Murdoch. RailVision will use the funding for technical hiring, to grow its product development team, and to expand its product line and customer base.
Locus Robotics Announces $117 million in Series F Funding, Bringing its Valuation Close to $2 Billion
Locus Robotics, a leader in autonomous mobile robots (AMR) for fulfillment and distribution warehouses, today announced more than $117 million in Series F funding, led by Goldman Sachs Asset Management and G2 Venture Partners. As part of the financing, Mark Midle, Managing Director, Goldman Sachs, and Zach Barasz, Partner, G2 Venture Partners, will join the Locus Board of Directors, bringing their unique industry perspectives and insights to further guide Locus’s next stage of growth and global expansion.
The Locus warehouse execution platform disrupts large-scale warehouse fulfillment and distribution with an industry-leading, intelligent, and dynamically scalable robotics-driven solution. Locus delivers 2X-3X productivity by seamlessly coordinating both human labor and AMRs to dramatically improve order fulfillment efficiency and workplace ergonomics, while lowering operational costs.
RemotiveLabs secures funding for automotive software platform enabling iteration and speed
Startup RemotiveLabs is set to ensure that all software engineers, independent of industrial background, can solve challenges and collaborate in the cloud using best-practice approaches in software development. The Malmö-based AutoTech company has secured funding of 900k Euro and is now ready to scale internationally.
Investors include Volvo Cars Tech Fund, Almi Invest and private investor Anette Saleskog. The new funding will be used to continue to develop the platform and to grow awareness in the global marketplace. “The status quo tooling is not only expensive, but also hindering innovation and lowering productivity. We see a great response to what we’ve built so far and now we are set to grow a global community with a developer-first mindset to software in automotive” adds Per Sigurdson, Co-Founder and CEO.
FAIRMAT announces €34M Series A round to make it easier and more sustainable to recycle advanced materials through robotic technologies
Fairmat, the Paris-based sustainable deep tech start-up pioneering the recycling of advanced materials, announced today that it has completed its Series A funding round at a total of €34M, one of the largest Series A rounds for a deep tech startup in both France and Europe as a whole this year.
The company will use the funds to accelerate the deployment of its robotized industrial capabilities, including the ramp up of its newly inaugurated automated sorting plant, which will host over a hundred robots and be able to handle up to 3,500 metric tons of scrap per year. Additionally, the company will be expanding internationally into new markets, starting with the United States in 2023 and Spain, Germany, soon after. As part of this expansion, Fairmat will also grow its global team from 80 in 2022 to 400 people by 2025, seeking to recruit the best talent in robotics and data science.
AMFG Receives $8.5 Million in Funding Led by Intel Capital to Drive the Future of Fully Autonomous Manufacturing
AMFG Corp., a rapidly growing Manufacturing Execution System (MES) & workflow automation software for 3D printing, has secured $8.5M in funding led by Intel Capital to further catapult their spot in the new age of industrial transformation. As part of the most recent fundraise, Intel Capital investor Jennifer Ard is joining AMFG’s board of directors. With this new funding, AMFG will continue to help companies scale their additive manufacturing processes, further solidifying AMFG’s position at the forefront of the autonomous manufacturing revolution.
This financing round comes on the heels of a year of accomplishments for AMFG. These include expanding into the U.S by establishing a global headquarters in Austin, Texas, which places the company in direct contact with the region’s dramatically shifting manufacturing scene, and making strategic hires to the growing AMFG team. With this funding, AMFG will advance its vision to pioneer a path into the future of autonomous manufacturing.
ISEE, the first company to achieve fully-autonomous operations with their self-driving yard trucks, raises $40 million in Series B.
Self-driving technology company, ISEE, has raised $40M in a Series B funding round led by Founders Fund, that included Maersk Growth, Eniac Ventures, New Legacy and other new and existing investors. This brings ISEE’s total funding to $70 million since the company was spun out of MIT in 2017.
With ISEE’s technology, customers can achieve 30% IRR, while simultaneously benefiting from a sophisticated tech stack that enables them to manage their operations with unprecedented efficiency. ISEE is winning too: revenue has grown by more than 20x in the past 12 months alone. Co-founder, President & COO Debbie Yu feels this is only the beginning, “With this new funding and strong customer pipeline, we’re excited to scale our operations and accelerate our business growth so that we can bring our self-driving technology to more customers.”
Soft Robotics Inc. secures $26M in first close of Series C led by Tyson Ventures. Marel and Johnsonville also invest and join Soft Robotics powerful syndicate.
Soft Robotics Inc. (SRI) announced today that it raised $26M in an initial Series C closing and will use the funds to expand commercial deployment of its mGripAI™ robotic picking solutions. mGripAI is an easy-to-integrate automation package that combines ultra-fast 3D vision and artificial intelligence technologies with patented and proven, IP69K-rated, soft grasping to give industrial robots the hand-eye coordination of humans. This unprecedented combination of robotic “hands,” “eyes,” and “brains” enables, for the first time, the use of high-speed industrial arms to automate bulk picking processes throughout protein, produce, dairy, baked goods, and prepared foods operations.
Soft Robotics’ Series C was led by Tyson Ventures, the venture capital arm of Tyson Foods (NYSE:TSN), and brings new investors, Marel (AEX:MAREL) and Johnsonville, into SRI’s powerful investor syndicate. SRI reported that it closed the first $26M of an undisclosed-size round with participation from these new investors and strong participation from existing investors.
Blockchain circular economy startup Circularise secures €11 million funding
At Circularise, founders Mesbah Sabuh and Nordi de Vos have spent the past six years commercialising a concept that was devised in their days at Delft University of Technology. With their digital product passport, Sabuh and de Vos aim to store all relevant materials data on blockchain, eliminating privacy and confidential risk that arises when sharing the information to third-parties.
In its series A round, Circularise has also won corporate support in the form of oil refiner-turned waste recycling specialist Neste, and also the Japanese conglomerate Asahi Kasei whose main dealings cover chemicals, plastics and materials science.
Pickle Robots Are Unloading Trucks in Southern California to Expedite Supply Chain Processing and Ease Labor Challenges
Pickle Robot Company (“Pickle Robot”), a pioneer in AI-enabled robotic automation systems that unload trucks, today announced it has live pilot implementations unloading tens of thousands of packages per month at customer sites in the greater Los Angeles area, and has raised $26 million in series A funding led by Ranpak, JS Capital, Schusterman Family Investments, Catapult Ventures, and Soros Capital. Additionally, Pickle Robot has added growth-oriented industry veterans to its leadership team to accelerate commercialization of the company’s flagship robotic unload systems.
Pickle will use the funding to accelerate go-to-market activities and strengthen deployment capabilities. Omar Asali, Chairman and CEO of Ranpak, has joined Pickle’s Board of Directors as part of the investment deal. Following this Series A investment round, the company has raised a total of nearly $32 million to date. Previous investors that participated in this funding round included Toyota AI Ventures, Third Kind Venture Capital, Hyperplane Ventures, BoxGroup, and Version One Ventures.
Attabotics Secures $71.7 Million USD to Revolutionize Legacy Fulfillment Centers
Attabotics, the world’s first 3D robotics supply chain company, today announced it has raised $71.7M USD in Series C-1 funding led by Export Development Canada (EDC) with participation from Ontario Teachers’ Pension Plan Board (Ontario Teachers’) through Teachers’ Venture Growth (TVG). The round brings Attabotics’ total funding to $165.1M USD to date and will be used to further accelerate the commercialization of its 3D robotics warehousing solution in the wake of growing post-COVID-19 demand.
Attabotics’ unique architecture maximizes the flexibility and speed of warehouse processes while reducing a retailer’s required warehouse needs by up to 85%. This reduction of space allows Attabotics customers to place warehouses closer to cities for faster delivery times. As consumer expectations continue to increase, Attabotics is helping customers to adjust to that surge while simultaneously offering a solution to ongoing warehouse labor shortages.
IoT and Industry 4.0: Zerynth raises a €5.3 million round led by United Ventures
Zerynth, the Italian startup, spin-off of the University of Pisa, that supports companies in digitizing production processes and developing connected industrial products through Industrial IoT solutions, announces a €5.3 million investment round led by United Ventures, the Italian venture capital fund specializing in investments in technology startups.
The funding will support the company’s domestic and international expansion for the next three years. Resources will also be invested to hire new talent and strengthen the team to support product development and enhancement, including the introduction of new features of the Industrial IoT app leveraging the opportunities of IoT and AI technologies; finally, part of the resources will be dedicated to establishing new strategic partnerships with major players in the industrial field.
Acerta Analytics secures $7.82M Series B financing
Acerta Analytics Solutions Inc. has raised US $7.82 million in Series B funding led by BDC Capital Industrial Innovation Venture Fund and Thrive Venture Fund and Lab for Women, with participation of OMERS Ventures and StandUp Ventures.
TOffeeAM banks £5 million
The round was led by Sumitomo Corp subsidiary Presidio Ventures Europe and London-based East Innovate. UK-based deeptech investor IQ Capital has returned from TOffeeAM’s seed round, investing alongside US-based fund Type One Ventures, Exor Seed, Italy’s Excellis and assorted angel investors.
TOffeeAM will use the series A capital to scale its 3D printing platform into new overseas markets; specifically seeking in-roads into the massive US market and also across East Asia.
Infinitum Secures $30M in Additional Growth Capital to Expand and Fully Automate Production Facility in Mexico
Infinitum, creator of the sustainable, breakthrough air core motor, today announced $30 million in additional growth capital from Riverstone Holdings Latin America, Alliance Resource Partners, Caterpillar Venture Capital and Cottonwood Technology Fund. The funds will be used to expedite commercial and industrial motor production by expanding and fully automating assembly at the company’s 65,000 square foot facility in Mexico to meet a significant increase in demand.
Electric motors consume more than half of the world’s electricity, with the general industry segment consuming 38 percent. Infinitum’s motor is 50 percent smaller and lighter, uses 66 percent less copper and no iron, and consumes 10 percent less energy. Infinitum motor components can be reused, allowing them to stay in service for decades.
BOWE GROUP leads an $8.2M investment round in robot software innovator MOV.AI
BOWE GROUP, a leading provider of integrated automation technology announced today an $8.2M investment round in MOV.AI – a startup revolutionizing Autonomous Mobile Robots (AMR) software. The round is led by BOWE GROUP and includes MOV.AI’s existing investors State of Mind Ventures, NFX, and Viola Ventures.
MOV.AI’s Robotics Engine Platform changes how AMRs are built, separating software from hardware and offering both AMR manufacturers and automation integrators the enterprise-grade tools they need for advanced automation. The Robotics Engine PlatformTM helps AMR manufacturers quickly develop and differentiate their robots. Automation integrators can deploy in days, not months, and ensure secure, uninterrupted operation in constantly changing business and operational environments.
project44 Raises $80 Million Valuing Company at $2.7 Billion, Up 12% from January Despite Widespread Downturn in B2B SaaS Valuations
project44, the leading supply chain visibility platform, announced today that it raised an $80M funding round led by Generation Investment Management, the sustainable investment management firm, and A.P. Moller Holding, a privately held investment company, based in Denmark. CMA CGM, a global player in sea, land, air and logistics solutions, joined the round along with previous investors Goldman Sachs Asset Management (“Goldman Sachs”), TPG, Emergence Capital, Chicago Ventures, Sapphire, 8VC, Sozo Ventures and Omidyar Technology Ventures.
Smartex sews up $24.7M to put smarter eyes on textile manufacturing
Smartex has developed machine-vision-driven software that makes fabric production more efficient by identifying defects, which primarily can be used to stop manufacturing if something is going wrong, preventing waste. In particular, the company argues that imperfect fabric can travel down the supply chain, with product issues only getting discovered much later in the manufacturing process.
These Series A funds will enable Smartex to expand the business to new geographies and to continue to grow the team. “I’m so excited about textile production in Asia and all the mega-factories in Bangladesh, Vietnam, China, etc. No one will ever solve textile problems without having a deep understanding and presence in these markets. So, going into all the cultural aspects and making businesses here is really awesome,” said Loureiro. “Our ultimate vision and long-term goal is to expand into other industries to enable factories around the world to produce with significantly less waste. We won’t stop until we have made a massive difference.”
AMP Robotics Raises $91 Million in Series C Financing
AMP Robotics Corp. (“AMP”), a pioneer in artificial intelligence (AI), robotics, and infrastructure for the waste and recycling industry, has raised $91 million in corporate equity in a Series C financing, led by Congruent Ventures and Wellington Management as well as new and existing investors including Blue Earth Capital, Sidewalk Infrastructure Partners (SIP), Tao Capital Partners, XN, Sequoia Capital, GV, Range Ventures, and Valor Equity Partners. This new round of funding follows a $55 million Series B financing led by XN in January 2021.
AMP will use the latest funding to scale its business operations while continuing its international expansion. Demand for robotics to retrofit existing recycling infrastructure continues to thrive; among historic demand for recycled commodities of all types, the industry needs capacity to meet the 2025 goals of consumer packaged goods companies that have committed to the use of post-consumer recycled (PCR) content. The company’s core technology business has grown accordingly; the new capital will enhance manufacturing capacity to support a fleet of approximately 275 robots around the world and further AMP’s ongoing development of AI-enabled automation applications for recycling, like AMP Vortex™, the company’s latest innovation for recovery of film and flexible packaging. AMP also has three production facilities in the Denver, Atlanta, and Cleveland metropolitan areas; the funding will help drive further growth of the company’s secondary sortation business in the United States.
Stratasys makes $10m investment in Axial3D to support mainstream adoption of 3D printed anatomic models
Med-tech start-up Axial3D has announced the closing of a 15 million USD investment round led by a strategic investment of 10 million USD from Stratasys. The collaboration between the two companies will provide a joint offering to make patient-specific 3D printing solutions for hospitals and medical device manufacturers more accessible, pushing for its adoption as a mainstream healthcare solution.
Samsara Eco raises $54M AUD for its ‘infinite plastic recycling’ tech
Samsara Eco, an Australian startup that uses enzyme-based technology to break down plastic into its core molecules, announced today it has raised $54 million AUD (about $34.7 million USD) in Series A funding. The company is planning to build its first plastic recycling facility in Melbourne later this year, with the target of full-scale production by 2023.
Samsara’s new funding will be used for expansion, building its library of plastic-eating enzymes and funding its first commercial facility, which it says will be able to infinitely recycle 20,000 tons of plastic starting in 2024. It will also grow its engineering team and expand operations into Europe and North America.
Solugen raises over $200 million Series D to reimagine the chemistry of everyday life
Solugen is reimagining the chemistry of everyday life with enzymes found in nature. We make chemicals better, faster, cheaper, and without fossil fuels from right here in Houston, Texas. Whether you care about the climate, local competitiveness, or just plain old profits, we have good news: it’s working!
Our first Bioforge has been operating for a year and Solugen is running a nearly nine figure business with high margins selling commodity and specialty chemicals. We have established ourselves with top tier customers for our existing solutions and fortune 100 technology partners to build a robust pipeline of future molecules that will help us achieve our goal of 10 mil tons of CO2 removed from the atmosphere.
Last year we raised over $300m to fund our first Bioforge. Now, we’ve raised over $200m, which increases our valuation above $2b. This capital allows us to break ground on our next Bioforge and start working on 3, 4 and 5, both in the US and abroad. We will significantly grow and advance our new molecule pipeline to enable an even wider range of carbon negative and low carbon solutions for our customers and for end consumers.
Bright Machines Raises $132M in New Funding to Expand Intelligent Automation in Manufacturing
Bright Machines, an innovator in software-defined manufacturing, announced today $132M in debt and Series B equity funding. The equity portion of the funding, worth $100M, was led by Eclipse Ventures. The debt portion of the funding, worth $32M, was led by Silicon Valley Bank (NASDAQ: SIVB) and Hercules Capital, Inc. (NYSE: HTGC). Bright Machines intends to use the funds to accelerate the company’s growth, which includes continued expansion into high-demand industry verticals, and the development of new software and service offerings to complement its existing portfolio of products. This round of funding brings the total raised by Bright Machines to $330M since the company’s founding in 2018.
In addition to refining and extending the capabilities of its flagship product, the Bright Machines Microfactory, the company plans to use the funds to accelerate its Brightware software roadmap, expand its service offerings, strengthen its partner network, and grow its installed base of customers. It will also unveil an Integration Hub in Guadalajara, Mexico, later this year and a U.S. based Customer Experience Center in San Francisco in early 2023.
Software Defined Automation Fuels Growth Through $10M Seed Round Led by Insight Partners
Software Defined Automation, a leading innovator turning factories into software systems, announced it has raised $10 million in a seed round led by global software investor Insight Partners, with additional investment from Baukunst VC, Fly Ventures, and First Momentum. The funds will be used to scale customer adoption and extend its solution portfolio.
Software Defined Automation revolutionizes factory automation with an Industrial-Control-as-a-Service offering. Industrial-Control-as-a-Service (ICaaS) is centered around cloud-based management of existing PLCs (TechOps), Git-enabled PLC code versioning and collaboration (DevOps), as well as virtualization of PLCs on edge servers (Virtual PLC). In combination, these technologies have the power to break down proprietary silos in control technology stacks and enable API-based modern microservices architecture. This new paradigm transforms the daily lives of automation professionals by bringing remote work, cloud security, resilience, collaboration tools and independence from proprietary automation vendor hardware to the modern factory.
PaintJet, A Robotic Solution for The $175 Billion Painting Industry, Raises $3.5 Million
PaintJet, a robotics and material sciences company automating large scale commercial and industrial painting, today announced it has raised $3.5 million in seed funding led by Dynamo Ventures, with participation from MetaProp, Pathbreaker Ventures, and Builders VC.
The US currently needs more than 100,000 painters to meet demand, and that will only continue to worsen with more than 41 percent of painters in the workforce expected to retire by 2031. Corrosion currently costs the US 3 percent of its GDP, and 80 percent of painting/corrosion prevention costs are due to labor. In short, painting is specialized and expensive work that has to be done.
PaintJet helps business and facilities owners rethink how buildings are protected, through advanced robotics, data, imaging, and specialty coatings. Its technology enables painters to increase their productivity and decrease time on the jobsite, resulting in lower costs while guaranteeing application quality. The technology itself is a mobile lift attachment designed to quickly and uniformly apply paint or industrial coatings to large scale commercial projects at an accuracy of 0.001” thick. Precision application reduces overspray and improves coating transfer efficiency, reducing coating consumption by 25 percent.
Impact Analytics Raises Additional $10M Investment Following Banner Year in Consumer, Retail and Manufacturing
Impact Analytics, a leading provider of SaaS AI-based solutions for strategic and unified planning for retail, CPG, and supply chain, announced today the closing of a $10-million round in growth financing led by Argentum Capital Partners IV, L.P. This funding is in addition to Argentum’s previous led investment of $11 million, secured in February 2021.
Along with the continued expansion of Impact Analytics’ AI-led retail solution suite, the round of funding will be used to scale the Company’s customer success, and sales and marketing organizations to meet the surge of demand for its AI-led products in North and South America, Europe, EMEA and Asia. In 2023, Impact Analytics will open offices in London and Dubai to meet burgeoning global demand. Led by highly passionate and driven leaders, product industry experts, expert data scientists, and dedicated customer care teams, Impact Analytics will continue to onboard top talent who push the boundaries of what’s possible when humans and machines work together.
Perygee Raises $4.75M Seed Round to Secure the Supply Chain’s Most Vulnerable IoT and OT Devices
Perygee, the company providing a lightweight and complete security platform for Internet of Things (IoT) and Operational Technology (OT), today announced the closing of a $4.75 million seed investment led by Ballistic Ventures. The round also includes investment from cybersecurity angels Ray Rothrock, John Donovan, Ohad Finkelstein, Corey Thomas, and Bryson Bort, as well as BBG Ventures, which backs early-stage startups with female founders. To date, Perygee has raised $6.35 million in funding.
Solvent-Free, Dry-Electrode Manufacturing for Batteries: Our Investment in AM Batteries
Electrode fabrication is the first stage in battery manufacturing, and the conventional process is lengthy and costly. It involves a “wet coating” that most commonly includes N-Methyl-2-pyrrolidone (NMP) as a solvent, followed by drying and compression. The drying process requires a large physical footprint — the equivalent size of a football field — and NMP is inherently toxic, so recovery is required. Both the drying and recovery processes require high operating temperatures and result in high energy consumption and operating costs, equivalent to approximately 32% of the total cost of battery manufacturing and 50% of the energy consumption.
AM Batteries’ process does not require energy-consuming evaporation or solvent-recovery. AM Batteries’ dry-electrode manufacturing technology uses an electrostatic spray deposition technique: active materials (cathode/anode) are electrostatically charged, deposited onto metal foil current collectors, and then processed to their final state. AM Batteries has found that this dry process results in 1) a 40% reduction in capital required for electrode equipment investment; 2) a 50% reduction in electricity usage of the plant; and 3) reduced cell cost. In addition, AM Batteries’ electrodes also offer the potential for fast-charging and higher-energy density batteries.
Fox Robotics Announces $20M Investment led by BMW i Ventures
Fox Robotics, the autonomous forklift company, announced today the close of a $20M oversubscribed funding round led by BMW i Ventures. Additional new investors include Zebra Technologies, Japan Airlines & Translink Innovation Fund, and Foothill Ventures. Existing investors Menlo Ventures, ENIAC Ventures, and SignalFire also participated in the round.
Fox is on a mission to deploy its forklifts across warehouses and production environments across the globe and develop new autonomous capabilities to expand use cases. It intends to use the new funds to ramp up production, invest in talent, and expand globally.
Proemion Announces €33.5M Growth Investment from Global Technology Investment Firm Battery Ventures
Proemion, the multinational technology company creating hardware-enabled software solutions to connect mobile machines with humans, the cloud, and each other, today announced a €33.5M growth investment from Battery Ventures, the global technology-focused investment firm. In July, Battery announced new, global funds capitalized at a combined $3.8B.
Family-owned since its founding in 1987, Proemion creates connectivity solutions with proprietary telematics control units and accompanying cloud-based software. Proemion customers include original equipment manufacturers (OEMs) and mixed-fleet companies who use Proemion’s telematics solutions to operate machinery more efficiently through the use of remote diagnostics and analytics. Specifically, the technology allows customers—who operate in industries including construction, agriculture, logistics, and natural resources—to better manage equipment, plan maintenance, save fuel costs, monitor CO2 emissions, and more. The predictive capabilities of Proemion telematics allow global customers to increase productivity with robust, cloud-based remote diagnostics while reducing operational costs and downtime.
With this growth investment from Battery—and anticipated future capital infusions from Battery and the founders—Proemion will expand international operations, execute other organic-growth initiatives and pursue acquisitions. As part of this transition, Robert Thomas Michaelides, current Proemion COO, will assume the role of chief executive officer.
Shippeo Announces Record $40m Funding Round to Accelerate Global Supply Chain Resilience
All existing investors took part in the new round, including Battery Ventures, Partech, NGP Capital, ETF Partners, Bpifrance Digital Venture and SAP.io, alongside new strategic investors Hong Kong-based LFX Venture Partners and Japan-based Yamaha Motor Ventures, whose investment will help to ramp up operations across Asia-Pacific.
The investments will support Shippeo’s mission to help shippers and carriers run more collaborative, automated, sustainable, profitable, and customer-centric supply chains, leveraging global partner networks, real-time data and AI to enable greater ecosystem collaboration. Regarded by many companies as the heart of their operations, supply chains can now benefit from highly accurate, real-time operational visibility and perfect workflow orchestration, which have become crucial for overcoming the unprecedented challenges, uncertainty, and financial fallout from disruption that organizations continue to face.
Parts-Matching Platform Gearflow Gets $5.5M, Led by Brick & Mortar
Gearflow, a parts market platform for heavy equipment owners, including contractors, has received $5.5 million in a new funding round led by Brick & Mortar Ventures. Founded by Darren Bechtel, Brick & Mortar Ventures is joined by Alumni Ventures, as well as existing investors in Gearflow Newark Venture Partners, Watchfire Ventures and Liquid2 Ventures, as participants in the funding.
The investment will be used to further develop Gearflow’s heavy equipment parts supply chain solutions, which has customers that include equipment owners, dealers, distributors and original equipment manufacturers.
Digital Twin Software Company Sensat Raises $20.5m USD to Automate the Way Infrastructure is Planned, Built and Managed
Sensat has raised $20.5m (£16.7m) in Series B funding in a round led by National Grid Partners, with the participation of existing investors. Sensat is a leading digital twin company with a mission to digitize the underserved construction industry and bring efficiencies to the development and operation of large infrastructure projects.
The funds will help Sensat to drive digital automation in infrastructure projects in the energy, rail and telecommunications sectors, which have traditionally lacked the productivity gains that have been a by-product of the rapid digital adoption that has occurred in other sectors.
Garvis Raises €3.5 Million Euros for a Bionic AI Platform to Optimize Supply Chain Management
A year after the launch of its AI platform for demand and inventory planning, Belgian startup Garvis raised € 3.5 million to develop the platform. Investors include British investment funds Superseed and Scalebridge Capital, and the German group Bosch Ventures. Garvis’ technology enables companies to respond at lightning speed to upheavals and evolutions that influence customer purchase behavior. One unique feature: even non-specialists are able to use the platform within a day.
Businesses need a radical new planning method that uses risk profiles, insight and real-time data. The platform Garvis developed, maps relevant environmental factors and provides transparent, explainable insights and predictions of demand patterns for various industries such as automotive, semiconductor, retail, and food and beverage. It uses open-box AI to respond to global fluctuations in buying behavior. Unexpected changes in demand patterns are recognized early, allowing planners to immediately adjust their forecasts and keep schedules up to date. Garvis works with the University of Antwerp (Belgium) to continuously optimize the predictive algorithms.
Makersite secures $18M investment
We are happy to announce the completion of an $18M funding round. The investment is led by Hitachi Ventures, the global venture capital arm of Hitachi, Ltd., and Translink Capital, a Silicon Valley-based VC fund, with participation from KOMPAS, an EU-based venture capital fund, and seed investor Planet A.
When looking at the sustainability space right now, there’s a great buzz about reporting standards, ESG, Science Based Targets, GHG-Protocol, etc. But in 3-5 years’ time, no one will care about any now-implemented corporate reporting. What counts are the changes implemented across an organization. Makersite helps enterprises to take the right decisions today, not tomorrow. The investment will help us to grow our sales and marketing teams in Europe and the U.S along with increasing our delivery capacities. This way, the investment supports both our old and new customers.
Orbex Secures £40.4 Million in Series C Funding
UK-based spaceflight company Orbex has secured £40.4 million for its Series C funding round, led by a new investor, the Scottish National Investment Bank. The new round of funding will allow the company to scale up its resources as it counts down to the first vertical launch from UK soil, as well as unlocking additional funding to support future projects.
Orbex recently revealed its “Prime” rocket in its final form, making this the first full orbital micro-launcher to be unveiled in Europe. Prime is a 19-metre long, two-stage rocket designed to transport small satellites weighing up to 180kg into low Earth orbit.
MycoWorks & General Motors
Biotechnology company MycoWorks announced today its newest investor GM Ventures, the investment arm of General Motors Co. (NYSE: GM), and their long-term agreement to co-develop Fine Mycelium™ materials for potential use in a range of applications within automotive design. MycoWorks’ collaboration with GM marks the exploration of its entry into one of the largest end-use markets for leather and demonstrates the significant opportunity to create more sustainable materials for the automotive space.
Ambi Robotics Raises $32 Million for New Kind of Warehouse Robot
The Ambisort can plow through about 400 parcels per hour; humans do the same work at about one-third the pace and usually make more mistakes. Ambi Robotics, the company that developed the system and the accompanying machine-learning algorithms that allow the robot to recognize each parcel and select the right way to grasp it, has deployed 80 of these systems and plans to surpass 100 in the field next year. On Monday, Ambi is announcing that it raised $32 million from Tiger Global, Bow Capital and the UK’s Ahren Innovation Capital. Pitney Bowes, the postage meter maker turned e-commerce logistics firm with 55 warehouses around the country, is another investor in the round as well as a customer.
ShipIn Systems Announces Series A Funding with Zeev Ventures, Raising $24 Million
ShipIn Systems, the world’s first Visual Fleet Management Platform, today announced Series A funding led by Zeev Ventures, a leading Silicon Valley venture capital firm. Investors at.inc/, Hyperplane, and Munich Re Ventures also participated, bringing the total funding to $24 million.
With this investment, ShipIn will focus on significantly scaling across the industry, and expand its visual analytics platform capabilities. Using AI and computer vision technology, ShipIn’s FleetVision™ platform detects events onboard ships in real-time, alerting crew at sea and teams ashore to safety or security hazards, operational anomalies, machinery concerns, and more. A recent study with one of its customers highlighted a 40% reduction in losses onboard cargo ships, while increasing cargo operations productivity by 8%.
Katana Closes $35M Series B to Scale an Industry-Leading Manufacturing Ecosystem for SMBs
Katana, an industry-leading manufacturing ERP software has closed a $35 million Series B round, bringing the total funding to date to $51 million. Funds will be used to scale up Katana’s features for small to medium-sized manufacturers, allowing them to manage D2C and B2B sales in an intuitive, industry-leading software solution.
Soli Organic Raises Nearly $125 Million to Expand National Footprint, Scale Soil-Based Indoor Production Technology
Soli Organic Inc. (“the Company”), the nation’s only soil-based, indoor farming company delivering 100% USDA certified organic produce, has announced the close of a Series D funding round totaling nearly $125 million. The round was led by global investment group CDPQ, with leading European investment firm Movendo Capital, B.V. also joining the round, along with follow-on investment from existing investors S2G Ventures, Cascade Asset Management Company and XPV Water Partners. Goldman Sachs & Co. LLC acted as exclusive placement agent for Soli Organic.
Strategic venture funding through this round will fund the continued build-out of additional large, high-tech, soil-based indoor farms that will transform the Company’s nationwide production footprint. The Company plans to have a total of 15 farms in strategic locations nationwide, including high-tech facilities in the Mid-Atlantic, Southeast and Pacific Northwest and other forthcoming locations, as well as several smaller, early generation facilities currently in production. The Company is also in the process of identifying sites for its next farms in the Midwest and Northeast.
Foxglove's $15M Series A and the Missing Data Stack for Robotics
I’m happy to announce our $15M Series A funding led by Eclipse Ventures. It’s an exciting time for Foxglove – thousands of robotics engineers use our software, and our user base has grown by over 8x in the past 12 months alone! But before we jump into details, I want to spend a minute reflecting on our mission and why it is so important.
Foxglove is building the data stack for robotics. Our platform combines open-source robot logging, data lake management, and visualization to streamline common robotics development workflows, increase collaboration, and ultimately help companies get robots to market faster. Our products are used by thousands of engineers, product managers, and operations teams, and we’re transforming development at some of the top companies across a range of industries, from autonomous vehicles (NVIDIA), logistics (6 River Systems), and autonomous forklifts (Third Wave Automation), to lawn mowing, sidewalk delivery, undersea exploration, fulfillment, and defense.
Sustainable 3D print-on-demand fine jewellery service provider Cloud Factory raises €2m in seed funding
Cloud Factory, a precious metal 3D printing company, announced this week that it has raised a 2 million EUR seed round led by Charge Ventures, a leading early-stage fund in the Baltics. The company claims to be the world’s first company to use direct metal 3D printing to “scalably” manufacture fine jewellery in a cost-effective and sustainable way.
Cloud Factory aims to use the investment to increase its manufacturing capacities and further develop its online platform for product creation and order management integrations. It says that through introducing green tech to the jewellery industry, it has become the first zero waste jewellery factory in the world using resource-efficient 3D printing technology. The type of machine in use at the company is the SLM 125 metal 3D printer.
trinckle Scores €3M for 3D Printing Design Configuration Software
3D printing software startup trinckle allows customers to create configurators for customizable 3D printed goods. This enables businesses to save time by automating their workflows. Its Paramate software make it possible to parametrically design customizable orthotics, grippers, production jigs, copper inductors, surf fins, optics, and jewelry.
Now, the company has raised €3 million to beef up its efforts in this area. trinckle hopes to use the money to grow its team and roll out its software worldwide. Interestingly, the round was led by HZG Group the investment fund run by the founders of Concept Laser (now owned by GE Additive), Kerstin and Frank Carsten Herzog.
AgriWebb adds $6.7m to Series B funding round and announces new sustainability-driven partnerships
AgriWebb, the leading livestock business management solution, has secured an additional $6.7 million in its series B funding round, bringing the round total to $29.3M while adding two more top-tier sustainability investors ad and expanding its sustainable impact via two newly secured USDA Partnerships for Climate-Smart Commodities grant-awarded projects led by Trust in Food and American Farmland Trust.
The latest investment capital is earmarked to roll out new partnerships, features and capabilities to support improved animal productivity and sustainable land stewardship, while grant allocations will enable AgriWebb and other leading US ag innovators to launch carbon-smart initiatives collectively aimed at helping more than 1,250 farms and ranchers managing over 130,000 animals work toward more measurably climate-friendly practices over the next 5 years.
Airbus Ventures Leads Solestial’s Oversubscribed $10M Seed Round
Airbus Ventures announces its newest lead investment in Solestial, Inc. (“Solestial”), the solar energy company for space. The round was joined by AEI HorizonX, GPVC, Stellar Ventures, Industrious Ventures, and others. This new funding will be used to ramp up production and customer engagement capabilities, as the company expands ground and flight testing in parallel; additional investments in R&D and go-to-market functions are also planned.
Solestial’s solar panels can be produced at scale using automated production methods at 90 percent lower cost than solar panels widely used by the satellite industry. This best-in-class silicon photovoltaic technology, optimized for space, also delivers orbital reliability of at least 10 years in low Earth orbit (LEO). Economical solar panels with scalable manufacturing capability are critical to meeting the demand of the satellite industry, which is projected to grow from 5,000 operational satellites to 100,000 or more by 2030, a 40% CAGR.
Kite Magnetics raises $1.85 million in seed funding
Researcher-led startup Kite Magnetics has announced a $1.85 million seed round led by Investible Climate Tech fund to develop a new generation of smaller, lighter and more efficient electric motors.
Kite Magnetics’ seed round will be used to design, build, test and fly electric motors for small two-seat electric aircraft such as those already being used to train new pilots across the world, including right here in Australia. Kite Magnetics is seeking to build electric motors for aircraft of all sizes, including those that will be powered by hydrogen fuel cells and flying regional routes in the coming years and intends to become a dominant player in the emerging aviation electric propulsion sector.
Electra raises $85M to electrify and decarbonize iron and steelmaking with no green premium
Electra, a green iron company, has raised $85 million to produce Low-Temperature Iron (LTI) from commercial and low-grade ores using zero-carbon intermittent electricity. Electra’s process emits zero carbon dioxide emissions and carries zero green premium, meaning it will cost the same or less than existing production methods powered by fossil fuels.
Electra, founded by entrepreneurs with decades of experience developing complex electrochemical systems, has created a novel process to electrochemically refine iron ore into pure iron at 60 degrees Celsius (140 degrees Fahrenheit) using renewable electricity and then convert the iron to steel using the existing infrastructure of electricity-powered arc furnaces. By comparison, 69% of steel today is made at approximately 1,600 degrees Celsius (2,912 degrees Fahrenheit) using coal, emitting about two tons of carbon dioxide for every ton of steel produced.
Plyable secures $3.2M investment to deliver their lightweight custom composite marketplace on a global scale
Plyable, award-winning, market-leading composite mold producer has now received a total of $4.25M investment to fund the growth of its time and significant cost-saving composite tooling solution.
The demand for composites is growing exponentially, with the incredible, rapid innovation seen in aerospace, electric vehicle and marine industries. Award winning, market-leading disruptor in composite tooling, Plyable’s impressive customer base spans all these sectors. This latest injection of investment will fund the growth of its time and cost-saving composite tooling solution, benefiting innovators, engineers and industry disruptors across the board.
Invisible AI Raises $15 Million Series A to Rapidly Scale Innovative Computer Vision Platform Across Manufacturing Facilities
Invisible AI, a leader in state-of-the-art AI solutions for manufacturing, today announced the close of a $15 million Series A funding round, bringing the company’s total amount raised to $21 million. New investor Van Tuyl Companies (VTC) led the round with participation from new investor FM Capital and existing investors 8VC, Sierra Ventures, K9 Ventures and Vest Coast Capital. The funding will be used to grow the team and meet rapidly growing demand from existing and new customers.
Invisible AI’s technology uses edge-based AI devices with a built-in AI chipset, 1 TB of storage, and a high-resolution 3D camera to track activity across manufacturing facilities without using the cloud or any bandwidth. The self-contained AI device processes body motion data to identify potential for high-stress injuries and prevent simple defects in real-time, which generates millions in savings for customers. The software is entirely anonymized and privacy-centric by design and can be deployed in minutes without any coding or engineering expertise, allowing customers to scale to thousands of cameras with ease.
ServiceNow, Honeywell Back Noodle.ai with $25M Series C to End Global Supply Chain Crisis
Noodle.ai, creator of the world’s leading supply chain system of intelligence, today announced it has closed a $25M Series C funding round, including participation from the venture arm of ServiceNow ( NYSE: NOW) and Honeywell Ventures. The investments provide further validation of Noodle.ai’s innovative AI-driven platform, Inventory Flow, a supply chain system of intelligence that enables companies to profitably navigate some of the world’s most complex supply chain challenges.
The latest round brings Noodle.ai’s total funding to more than $100M, including previous rounds from TPG Growth, Dell Technologies Capital, Mitsubishi and SMS group. In a tight investment landscape, the recent funding is notable, reinforcing the urgent need for innovation in global supply chains. Noodle.ai will use the funds to accelerate product innovation and technology integrations to support a growing customer base of companies across a wide range of industries heavily reliant on the global supply chain, including consumer packaged goods (CPG), food and beverage, beauty and cosmetics, metals, automotive, paper and pulp, and more.
JITX Launches General Availability And Announces $12M Series A From Sequoia Capital
Today we’re announcing the general availability of JITX and that we raised a $12M Series A round, led by Sequoia Capital, with participation from Y Combinator, Funders Club and Liquid 2.
Hardware engineers need a credible way out of the trap they find themselves in. JITX helps by letting them write code that automates their engineering process. To get ahead they can’t just do one design after another – they need reusable code that designs hardware for them. To illustrate this point: a software engineer can upload code to GitHub and thousands of people can reuse that code in their own projects. Using a traditional hardware design flow, each one of those thousands of engineers would have to re-design and re-analyze the same circuit to make sure the design will behave correctly in their product. JITX brings the productivity of software to hardware.
At the same time we were working with enterprise design teams like Northrop Grumman. It turns out that they also needed JITX to address some specific problems. Like everyone else, their biggest challenge is finding and retaining skilled engineers. There just aren’t enough experts to go around, and even entry level positions are getting harder to fill (turns out new EE graduates are more interested in AI than drafting circuit boards). So they use JITX as a way to make their existing experts more productive. They find a lot of value out of checking designs automatically – a manual derating analysis on a complex FPGA board can take months but JITX automates the whole procedure. They are also excited about using code as a more efficient way to coordinate across different teams in the organization. At the end of our iteration process we were quickly designing boards that were at the limit of what traditional factories could build (our thanks to Gerry Partida for an 8/4 stacked microvia with sub 70um trace and space!). For example we built this silicon validation board that included 2500 pins in a complex 300um grid.
France’s Schneider considers full buyout of AVEVA
French industrial conglomerate Schneider said on Wednesday it was considering buying out software company AVEVA, sending the British company’s shares more than 32% higher. Schneider, which already owns nearly 60% of AVEVA, said it had until 16:00 GMT on Sept. 21 to decide whether to go ahead with the full buy-out.
“Schneider Electric believes that a full combination of AVEVA and the software business of Schneider Electric will reinforce AVEVA, and enable it to execute its growth strategy faster,” Schneider said. “Whether or not an offer is made, Schneider Electric remains committed to AVEVA, to its agnostic and autonomous business model and to its employees.”
Apprentice.io Raises $8M Series A for First Conversational AR and AI Platform
Apprentice.io, creator of the first conversational augmented reality (AR) and artificial intelligence (AI) platform, announced today an $8M Series A funding round led by Pritzker Group Venture Capital with participation from existing investors, Silverton Partners and Hemi Ventures. The Venture Reality Fund — leading early-stage investor focused on immersive and intelligent computing — and GFR Fund also joined as new investors.
With more than $10 million in total capital raised to date and support from the industry’s top AR/VR funds, Apprentice.io is recognized as the leader in enterprise AR for the pharma/biotech industries and, by extension, lab, line and suite environments. In a cleanroom gown, a lab technician can use Apprentice’s conversational user interface (UI) to access complex procedures, visualize a 3-D technique demonstration, and intelligently capture or track data using computer vision — all without touching a single piece of paper.
BMW i Ventures Leads Series A Investment in Optical AI Technology Company, Alitheon
BMW i Ventures announced today their lead investment in a $10M Series A round for Alitheon, an Optical AI technology company. The company’s FeaturePrint® technology quickly and easily digitizes physical objects for irrefutable identification, authentication, and tracing, and eliminates misidentification and misuse of items. BMW i Ventures previously invested in the company’s seed round and is co-leading this round of investment alongside Imagine Ventures, a Seattle-based venture capital firm.
“The counterfeit crisis is a major cause of concern – not only for economic reasons, but even more as individual safety is concerned,” said Marcus Behrendt, Managing Partner at BMW i Ventures. “Alitheon’s cutting-edge technology and ability to bring trust and safety back to supply chains is groundbreaking. After participating in Alitheon’s Seed Funding, we’ve watched the growth of the team and the rising potential of its technology, and are excited to lead its Series A as they bring their product to market.”
1MRobotics Launches Out of Stealth With $25m In Series A Funding
1MRobotics, a startup developing next-generation robotic dark stores, or as they classify them - robotic nano-fulfillment centers, announced today that Ibex Investors led their A-round funding along with its existing backers Emerge VC, Target Global, and INT3, with participation from other prominent investors. The Series A funding brings its total raised to $25 million, including a previous seed round of $8.5 million.
They set out to develop fully automated, small, and flexible dark stores enabling effective and profitable last-mile operations for the world’s largest brands and service providers.
Taqtile Announces $5M Equity Raise Supporting Global Deployment Of Manifest, The Leading AR-Enabled Work Instruction Platform For Industry And Defense
Taqtile, Inc., maker of Manifest®, the leading augmented reality (AR)-enabled work-instruction platform for deskless workers, announces completion of a $5 million preferred equity round. The Seattle-based company will utilize proceeds to increase sales and marketing efforts, reinforce engineering and development teams and increase its global footprint through its extensive partnership network.
Nikon Announces Investment in Hybrid Manufacturing Technologies Global, Inc.
Nikon Corporation (Nikon) today announced an investment in Hybrid Manufacturing Technologies Global, Inc. Hybrid Manufacturing Technologies Global, Inc. (HMT), an award-winning industry leader in additive manufacturing (AM), successfully created an approach that enables users to integrate additive tools onto any platform. This groundbreaking technology allows users to take full advantage of the manufacturing process by unifying multiple complementary technologies in one set up.
This latest investment will enable HMT and Nikon to leverage their combined expertise to accelerate innovation and expand the hybrid manufacturing landscape. Yuichi Shibazaki, Nikon Corporate Vice President and General Manager of the Next Generation Project Division said, “This investment in HMT is the latest component of our Next Generation Project program to further industrialization of digital manufacturing. As an industry leader with demonstrated collaborative capabilities, HMT and its AMBIT™ portfolio are well-matched with Nikon technologies. We look forward to working with them as part of our commitment to creating value and advancing society through novel industries like hybrid manufacturing.”
Nikon Announces Investment in RF Solutions Provider Optisys, Inc.
Nikon Corporation (Nikon) today announced an investment in Optisys, Inc. (Optisys), a global industry leader in the design and manufacture of metal printed antennas for commercial and government applications where high performance, size, and weight are critical. The Optisys IP portfolio includes many proprietary antenna designs as well as revolutionary design improvements that support mass customization capabilities.
This investment will enable Nikon and Optisys to boost utilization of metal additive manufacturing for applications including high-performance antennas and other RF products. “This investment in Optisys is another central element of our Next Generation Project program to propel industrialization of digital manufacturing, “Yuichi Shibazaki, Nikon Corporate Vice President and General Manager of the Next Generation Project Division said. “Optisys’ industry leadership and precision design and manufacturing capabilities are well-aligned with Nikon core technologies and our vision for the future. We look forward to partnering with their team to expand the additive manufacturing horizon.”
Litmus Raises $30M in Series B Funding Led by Belden
Litmus today announced it has closed $30M in Series B funding to cap a period of exceptional growth in adoption of its Industrial IoT Edge platform. The Series B was led by Belden with participation from other investors whose confidence in Litmus signals the strength of Litmus Edge as the standard data platform for Industry 4.0.
The new round brings the Litmus funding total from $12.6M to $42.6M and will allow the company to scale sales, marketing, customer support and extend service and deployment to enterprise customers through various go-to-market channels. The company will expand its presence in EMEA and APAC while supporting fast-growing OEM relationships to provide customers with the most complete IIoT Edge platform on the market that unifies data collection, data analytics, application enablement and data integration.
ATLANT 3D Nanosystems Secures 15M USD Investments to Enable Atomic Layer Advanced Manufacturing for Electronics
ATLANT 3D Nanosystems (ATLANT 3D), today announced the closure of their capital raise of 15M USD. The round was led by UK venture capital firm West HillCapital and further supported by existing investors including a leading Japanese corporation. The funding is the largest joint Series A round in Denmark outside of life sciences and software.
The funding will be used to get one step closer to ATLANT 3D’s vision to create a network-centric smart advanced manufacturing infrastructure based on its proprietary technology and know-how and integrate it in the future with other advanced technologies. ATLANT 3D aims to develop a network of advanced manufacturing hubs – the A-hubs – across the globe to enable a radical innovation ecosystem for next-generation micro and nanoelectronics prototyping and manufacturing.
Modulous raises £10m ($11.5m) to develop the technologies that enable developers, architects and contractors to build net-zero modular homes without a factory
Modulous announced today that it has raised £10m ($11.5m) of Series A funding, increasing its valuation despite the slide in global markets. “Building energy efficient, affordable housing without the waste and carbon footprint that accompanies traditional construction has never been more critical,” said Modulous CEO Chris Bone. “Modular delivery is really the only way the housing crisis can be resolved, but, for many, the upfront capital investment has held back the industry’s ability to scale.
Realtime Robotics Announces Additional Funding of $14.4 Million
Realtime Robotics, the leader in collision-free autonomous motion planning for industrial robots, today announced that it has secured $14.4 million in additional funding, with Soundproof Ventures, Heroic Ventures and SIP Global Partners as lead investors. The funding comes on the heels of the official launch of the company’s new RapidPlan software, which helps manufacturers design and deploy industrial automation faster and more efficiently. With RapidPlan, customers can automate the programming, deployment and control of their industrial robots within applications such as automotive or logistics, autonomously creating and choreographing all robot movements without the need for brand-specific robot programming.
ELISE Raises €14.5 million to scale Connected Engineering
We are incredibly proud to announce that we have closed our Series A financing round of €14.5 million! The investment is led by the renowned US Investor Spark Capital, with participation from BMW i Ventures, Cherry Ventures, UVC Partners, and Venture Stars. “This new investment will allow us to make significant progress towards our goal of becoming the low-code standard in engineering. The ease of use of our visual programming language enables engineers to model and automate development processes in the shortest possible time,” explained Moritz Maier, co-founder and CEO of ELISE. “With our open platform, we enable engineers to transfer the agile and efficient methods of software development to hardware development. This automates manual and repetitive tasks and enables companies to manage the growing complexity of product development in the face of increasing cost and innovation pressure.”
Taranis Raises $40 Million Series D to Advance Crop Intelligence and Unlock Growth Opportunities for Agribusinesses
Taranis, the leading AI-powered crop intelligence provider, announced today that it has raised $40 million in Series D funding. The round was led by Inven Capital, a European climate tech fund, with participation from new investors Seraphim Space Investment Trust (‘SSIT’) and Farglory Group, and strong backing from existing investors: Vertex Growth, Viola Ventures, Vertex Ventures Israel, La Maison Partners, Hitachi Ventures, K3 Ventures, UMC Capital, OurCrowd, Micron Ventures, iAngels Ventures, Presidio Ventures (Sumitomo), Cavallo Ventures (Wilbur Ellis), Finistere Ventures, and Eyal Gura. This latest round brings Taranis’ total funding to $100 million.
Varjo Raises $40 Million Series D Funding to Build a True-to-Life, Industrial Metaverse
Backed by EQT Ventures, Atomico, Volvo Car Tech Fund, Lifeline Ventures, and new strategic investors Mirabaud and Foxconn, the new capital will enable Varjo to build a true-to-life, industrial metaverse for all professionals. Varjo will use the funds for its R&D cloud services, namely Varjo Reality Cloud, the company’s XR streaming platform that was announced in April. The new capital will help the company continue to scale its software and hardware offerings across new enterprise verticals such as design & manufacturing, engineering, education, and healthcare.
Divert seeks to scale food waste prevention tech, recycling platform with $100M investment
Divert, a Massachusetts-based technology company focused on mitigating food waste, announced last week its retail customer base has grown by 40% in the last two years to more than 5,200 stores across all 50 states — including among five Fortune 100 companies. The company currently has six modular sites with depackaging capabilities to prepare material for third-party organics processing, plus two existing anaerobic digesters in California and Massachusetts. Divert is developing three more digesters in California, Pennsylvania and Washington that will produce renewable natural gas. The company was founded in 2007 but has largely kept a low profile. Last year, Divert was acquired by private equity firm Ara Partners and received $100 million in growth equity.
Lumachain Raises US$19.5M in Series A Funding Led by Bessemer Venture Partners
Lumachain, an end-to-end solution for food supply chains, today announced it has raised US$19.5 million in Series A funding, led by Bessemer Venture Partners with participation from existing investor Main Sequence. The company has also announced its first U.S. headquarters in Denver.
This investment will allow the company to accelerate the roll out of its world-first computer vision-based artificial intelligence platform at meat and food processing plants across the U.S. and globally. In addition, Lumachain will significantly scale up its team of computer vision and software engineers, and delivery and product experts from the meat industry.
Luminovo raises €11 million in seed funding to fix the broken electronics value chain with transformative software suite
For electronics manufacturers (EMS), Luminovo’s software brings together and reorganises the quoting process - including material and production costing - in one cloud-based tool, replacing the need for different on-premise methods. By bringing the whole workflow together and connecting customers and suppliers, Luminovo automates many repetitive, manual parts of the process and allows manufacturers to focus on the more complex steps that need collaboration.
GrayMatter Robotics’ sanding solution brings in $20M
GrayMatter Robotics announced that it has raised $20 million in Series A funding. The company’s Scan&Sand system is a flexible robotic sander that can quickly adjust to objects with complex geometry. The system doesn’t require coding to program the robot, and operators can learn how to operate it in just a few hours. Scan&Sand can handle a variety of materials like composites, metals, solid surfaces, acrylics, plastics, wood, and stone.
Bow Capital led the funding round, which also included participation from GrayMatter’s existing investors B Capital Group, Calibrate Ventures, OCA Ventures, Pathbreaker Ventures, Stage Venture Partners and 3M Ventures. Swift Ventures was a new investor that participated in the round.
Infineon acquires startup Industrial Analytics and strengthens its offering in AI-powered analysis of machinery and industrial equipment
Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) has acquired the Berlin-based startup Industrial Analytics. Infineon is thus strengthening its software and services business in artificial intelligence for predictive analysis relating to machinery and industrial equipment. Infineon is acquiring 100% of the company’s shares. Both parties have agreed not to disclose the amount of the transaction. “Industrial Analytics has outstanding expertise in the area of predictive analysis for industrial machinery and equipment using artificial intelligence,” said Peter Wawer, President of Infineon’s Industrial Power Control division. “We intend to jointly expand Industrial Analytics’ business and to offer Infineon’s industrial customers new AI solutions that complement our semiconductor portfolio.” “Together with Infineon, we can accelerate our growth path of the past years,” said Anja Vedder, Co-Founder and Managing Director of Industrial Analytics. “With Infineon, we not only gain a strong partner, we also receive access to Infineon’s system knowledge as a leading semiconductor company. We will benefit enormously from this.” Industrial Analytics develops artificial intelligence solutions which for example monitor plants for early detection of critical developments, based on analysis and evaluation of vibrations. The AI solutions from Industrial Analytics not only evaluate data for predictive maintenance, but also provide recommendations for action (prescriptive maintenance).
DataProphet closes $10m investment to lead the Digital Maturity Journey for Manufacturers
DataProphet, a world-leading AI-as-a-Service (AIaaS) for manufacturing innovators, today announced the completion of its $10 million Series A funding round. Knife Capital led the round, joined by South Africa’s IDC and Norican – the world’s largest metal surface preparation and finishing equipment provider. The funding provides DataProphet with the capital to invest further in its award-winning industrial AI product set while facilitating targeted growth in selected geographies and manufacturing verticals.
“I am excited about the continued support DataProphet has received from Knife Capital. Going forward, we will use this additional funding to accelerate and expand into new markets, build new relationships aligned with our machine builder strategy, and further our global expansion. Another important pillar is bringing in top talent to build on this momentum.” says Frans Cronje, CEO of DataProphet.
Canvass AI Accelerates Expansion with Completion of US $14.23 Million Series A Funding
Canvass Analytics Inc. (“Canvass AI”), a leader in industrial AI software, today announced the completion of its previously reported Series A financing with an extension of US $7.73 million, led by Yamaha Motors Ventures and a CDN $5.7 million (US $4.43 million) repayable loan from the Government of Canada, through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). The Series A extension will fuel the company’s mission to empower industrial workforces to drive impact across their operations with the power of Industrial AI.
Geek+ announces $100 million series E1 financing round
Geek+, a global provider of autonomous mobile robot technologies, announced today it has closed a new, $100 million series E1 funding series. Investors in the round include Intel Capital, Vertex Growth, and Qingyue Capital Investment. The company will use this funding to accelerate its global market expansion and invest in its AMR technology research and development for key product innovation.
Start-up with ultra-efficient electrolyser, Hysata, to develop pilot factory after securing $29m
Australian start-up Hysata that says it has developed the world’s most efficient electrolyser has attracted A$42.5m ($29.4m) in an oversubscribed Series A funding round. The money will be used to grow the company’s team and “develop a pilot manufacturing facility” for its innovative “capillary-fed” technology, which it says will be able to deliver the “world’s lowest-cost green hydrogen” due to its superior efficiency.
DataMesh closed a new funding round led by SIG Asia
DataMesh has recently closed a new round of funding led by SIG Asia Investment, LLLP, followed by Singtel Innov8 and Global Brain.
DataMesh builds its enterprise metaverse platform and tools based on digital twin and XR technologies. Hundreds of enterprises have adopted DataMesh products and SaaS services, mainly in building construction, manufacturing, and facility operations and maintenance industries. DataMesh Director, which focuses on “democratization of XR,” won NTT Docomo’s DX Award for the most outstanding 5G enabled digital transformation award in 2021. It supported the BIM + XR presentation of the New Saga Arena project in Saga Prefecture, Japan, together with Toda Construction. DataMesh FactVerse is the computing platform for digital twin factories and virtual facilities, which has been widely adopted in automotive factories, cargo airports, and large arenas.
Nexeon raises over $200m to fund battery materials manufacturing
Further to the announcement of its strategic partnership with and investment from SKC on 26th January 2022, Nexeon, a battery materials developer and manufacturer, has completed the second round of its fundraising, resulting in a total investment of $170m. The capital raised will provide Nexeon with further resources to accelerate the expansion of its own manufacturing capabilities to mass produce tens of thousands of metric tonnes annually of its silicon-based anode materials for use in rechargeable Lithium-ion batteries.
Manufacturing marketplace startup Zetwerk raises $210M in funding
Startup Zetwerk has raised $210 million in new funding less than six months after closing a previous $150 million investment at a $1.33 billion valuation. The new funding round was reported by Inc42 on Tuesday. Bangalore-based Zetwerk reportedly raised the capital from a group of backers that included ICONIQ, IIFL, Steadview Capital and D1 Capital Partners. Greenoaks Capital Partners was the lead investor.
Redwood Materials announces $700M external investment round
Today, Redwood is announcing a more than $700M external investment from a carefully selected group of strategic investors who understand the mission and value of what Redwood is working to achieve. The round was led by funds and accounts advised by T. Rowe Price Associates, Inc. and includes Goldman Sachs Asset Management, Baillie Gifford, Canada Pension Plan Investment Board, and Fidelity. In addition, all Series B investors, Capricorn’s Technology Impact Fund, Breakthrough Energy Ventures and Amazon’s Climate Pledge Fund, returned for this round and Valor Equity Partners, Emerson Collective, and Franklin Templeton also participated.
“With this capital, Redwood will be able to accelerate our mission to make battery materials sustainable and affordable, accomplishing the change we need in the world with a circular economy,” said JB Straubel, CEO, Redwood Materials.
Geomiq raised $8.5M to Digitize Manufacturing
We’ve raised $8.5m to digitize global manufacturing and deliver industry leading service levels for Engineers and Procurement teams. With this funding we’re expanding in to Europe, accelerating our product plans, and growing our amazing team
BMF Raises $43M Series C to Continue Driving Convergence of Additive Manufacturing and Miniaturization
Boston Micro Fabrication (BMF), the pioneer in microscale 3D printing systems, today announced the successful closing of a Series C round of funding, totaling $43 million. The round was led by Shenzhen Capital Group Co., Ltd. (“SCGC”). BMF will use the funding to advance product development, sales and marketing and customer support as the company continues to expand and serve its global customer base.
Blackhorn Ventures Leads Datch's Series A with $10 Million Investment
In just a few years, we have rapidly expanded, introducing our technology into Fortune 500 and other industry-leading enterprises, and now work with a range of sectors: utilities, energy, manufacturing, mining, and aviation. Continuing with this momentum, we are proud to announce our latest funding round of $10 million. Blackhorn Ventures, an Industry 4.0 fund investing in software companies redefining the industrial sector, led the capital raise, which was also supported by Blue Bear Capital, Boeing HorizonX, Park Partners, Lorimer Ventures, and others.
The funding will be used to expand Datch’s platform capabilities, introduce new integration tools, and scale our enterprise operations and support. Our goal is to provide our customers with the toolkit to map their unique processes and connect Datch to their systems-of-record with ease.
Juniper Ventures’ Series B Investment in ZEDEDA
Juniper Ventures is thrilled to announce its Series B investment in ZEDEDA, a pioneer in edge virtualization. Since the original investment in 2018, we continue to be impressed by ZEDEDA’s execution and its team’s ability to meet the ambiguous and evolving demands of today’s enterprise edge market. ZEDEDA’s cloud-native solution eliminates vendor lock-in and simplifies the deployment and full lifecycle management of both hardware and software applications at scale. The platform supports a diverse set of hardware with Zero Trust security and is scalable through flexible application deployment models — enabling users to leverage existing infrastructure investments alongside modern, cloud-native innovations.
JAKA Robotics raises $150M for collaborative robots
JAKA Robotics has raised $150 million in Series D funding. This follows a $50 million Series C funding round earlier in 2021. JAKA plans to use the Series D funding to further support globalization of the company and the research and development of its collaborative robot (cobot) arm.
AM Ventures closes venture capital fund with focus on industrial 3D printing
AM Ventures, one of the global leaders in venture capital for additive manufacturing (AM), has announced the final closing of its oversubscribed venture capital fund focused on industrial 3D printing, closing at 100 million EUR hard cap.
Nano Dimension continues expansion with 12.12% stake in Stratasys
Investment in additive manufacturing continues as Nano Dimension has acquired a 12.12% stake in fellow 3D printer manufacturer Stratasys.
The strategic investment was certainly an unexpected one as Stratasys is one of the most seasoned veterans in industrial 3D printing. The companies may both be based in Israel, but their market segments couldn’t be more different: Nano Dimension specializes in Additively Manufactured Electronics (AME) while Stratasys operates almost exclusively in the polymer space with proprietary technologies like FDM and PolyJet.
Phaidra Uses AI to Boost Industrial Profitability and Reduce Emissions
Phaidra, a pioneer of using artificial intelligence (AI) to improve efficiency, stability, and sustainability in the industrial sector, has closed $25M in Series A funding, the company announced today. The funding will allow Phaidra to accelerate deployment of its technology in mission-critical industries, from data centers and refineries to pharmaceutical plants and steel mills.
‘At DeepMind, my co-founders and I saw first-hand how deep reinforcement learning was creating breakthroughs in multiple real-world applications. We started Phaidra to bring the benefits of this technology beyond the tech companies to the industrial sector,’ said Jim Gao, CEO of Phaidra. ‘Robert’s company-building expertise and the Series A raise will go a long way towards achieving our mission of radical resource efficiency.’
Arch Systems secures $15M in new funding led by Two Bear Capital
Arch® Systems today announced $15M in new funding led by Two Bear Capital and joined by new and existing investors including seed lead investor Uncork Capital.
Arch, founded by Stanford engineering PhDs, provides leading electronics and discrete manufacturers with an advanced analytics platform for factory-wide and multi-factory operations. On the manufacturing floor, the technology provides best-in-class operational guidance to improve productivity, quality, and maintenance. Across multiple factories, Arch automates global KPI alignment and delivers enterprises tools to drive data-driven action management both at in-house and contracted factories to maximize overall manufacturing performance.
About the new financing, the Arch CEO said, “This new funding will accelerate our go-to-market motion both in our core area, electronics manufacturing, and in the adjacent area of high-tech manufacturing including defense and medical manufacturing. Two Bear Capital brings incredible expertise and insight into company building in the deep tech and networking space as well as our domain manufacturing markets. This is a rare and exceptional combination of expertise. We are excited to be partnering with them on this next phase.”
Industrial AI enterprise Detect Technologies raises $28mn in Series B funding led by Prosus Ventures
Detect Technologies, a leading AI-based SaaS enterprise, announced today that it raised $28 Mn in primary and secondary funding. Detect Technologies provides cloud-based applications to industries to automate and enhance visibility of industrial risks and improve productivity. Prosus Ventures led this round with significant participation from existing investors Accel and Elevation Capital, and continued support from other existing investors—Shell Ventures, Bharat Innovation Fund and Bluehill Capital.
Detect Technologies has grown rapidly to become a leading industrial AI and SaaS enterprise. The company will utilize this capital to further expand and strengthen its sales and operations across international markets in North America and Europe. Operating in the fast-evolving space of AI, the company has also allocated funds for enriching its product suite.
FORT’s $25MM Series B Funding Accelerates Expansion of its Machine Communications Platform
FORT Robotics (FORT), a pioneer in communications and control for smart machines, today announced the close of a $25 million Series B funding round, led by Tiger Global. The company will use the funds to accelerate the rollout of its machine communications platform, which aims to make autonomous machines safer and more secure.
FORT’s platform technology is the foundation for its hardware solutions, including wireless emergency stops and remote control systems, that are used by industry leaders including Agility Robotics, Hexagon, Moog, and hundreds of others. With the new investment, FORT plans to expand its platform functionality and enhance security offerings to address growing demand from end users.
Booz Allen Ventures to accelerate deployment of commercial tech for federal clients
Booz Allen Hamilton (NYSE: BAH) announced today the formation of Booz Allen Ventures, LLC, a $100 million corporate venture capital arm that furthers the firm’s commitment to invest in strategic dual-use, commercial technologies that will provide federal clients disruptive technology for critical missions. Aligned with client demand and the firm’s VoLT (Velocity, Leadership, Technology) growth strategy, Booz Allen Ventures will invest in early-stage companies and technologies within four core areas of demand: defense, artificial intelligence/machine learning, cybersecurity, and deep technology.
Excited to Announce Aquabyte’s $25M Series B
In 2017, Aquabyte was an idea and a prototype. The prototype was a camera powered by AI and Machine Learning, to capture and analyze images of underwater fish.
So today, five years since that initial prototype in my San Francisco bathtub, I am proud and grateful to announce that we have completed our Series B funding. I am grateful for the commitment of SoftBank Ventures Asia, The Nature Conservancy, Westerly Winds, New Enterprise Associates, Costanoa Ventures, ArcTern Ventures, Alliance Venture, and Struck Capital who are joining us as investors, friends, and true partners.
Hoosun Completes Round D Financing
Li Yuanlin, Chairman and General Manager of Hoosun, spoke about the company’s efforts: “Hoosun will increase its investment in research and development in the future, continue to work on breakthroughs in key technologies for core equipment in the field of micro-nano materials and the process path of material processing, while leading the way in the domestic substitution of new materials and equipment.”
Steelhead Technologies Raises $2.2 Million Seed Round
Steelhead’s software performs as a plant operating system. The platform modernizes and streamlines production environments through digitization, automation and optimization, while uncovering previously unknown data manufacturers can begin to leverage to drive more efficient processes and profitability. Steelhead’s goal is to improve competitiveness and profits of manufacturing in the U.S. Steelhead serves the surface finishing, heat treatment, and additive manufacturing industries, among others including Anchor Bay Powder Coat, Custom Powder Coating and D&K Powder Coating.
Divergent Secures Up to $80M in New Financing for 3D Printed Car Operations
3D printed supercar startup Divergent Technologies announced that it has successfully completed two new financing agreements, for a total of up to $80 million. This follows the Southern California-based company’s $160 million Series C investment round, announced in April of this year.
This signals financial faith being shown not just in the AM sector, but, more broadly, in the technology’s ability to deliver wholly automated production lines. That has significance far beyond its implications for one company, as it is precisely what AM will have to display it can achieve, in order for the industry to scale up to the point where it is capable of handling mass production.
Sortera Alloys Announces $10M Funding Round to Advance End-of-Life Recycling for Automotive Metals
Sortera Alloys, Inc., an innovative industrial scrap metal sorting and recycling company powered by A.I. imagery, data analytics, and advanced sensors, announced $10M in funding led by Assembly Ventures with additional funding from Breakthrough Energy Ventures and Novelis. Sortera is dedicated to providing a solution for end-of-life circular recycling in the aluminum industry.
Sortera’s A.I.-powered technology allows existing streams of mixed alloy aluminum scrap to be separated back into individual alloys. The upgraded metals can then be recycled back into the highest value applications ranging from automotive cast and flat-rolled products to building, construction, and aerospace materials extrusions. The company’s low-cost, scalable production process enables customers to reduce their CO₂ footprint and achieve sustainability and circular production goals due to the fact that recycled aluminum requires roughly 95% less energy to produce than aluminum produced from virgin raw materials.
Flexe Raises $119M as Enterprises Accelerate Flexe Logistics Program Adoption
Flexe, the programmatic logistics leader, announced its $119 million Series D funding round at a $1b+ post-money valuation. The round includes new investments from funds and accounts managed by BlackRock and follow-on investment from Activate Capital, Madrona Ventures, Prologis Ventures, Redpoint Ventures, funds and accounts advised by T. Rowe Price Associates, Inc. and T. Rowe Price Investment Management, Inc. and Tiger Global.
Flexe continues to see accelerated demand for its logistics programs. An uncertain macroeconomic environment, rapidly shifting consumer behaviors, forecast variability and supply chain gridlocks have led retailers and brands to strategically embrace logistics flexibility.
Celus grabs $25M in Series A funding to automate electronic circuit board design
German startup Celus GmbH announced today it has raised $25 million in a new round of funding to help further its goal of using artificial intelligence to streamline printed circuit board development. Today’s Series A round was led by Earlybird Venture Capital and saw participation from DI Capital plus existing investors Speedinvest and Plug and Play.
The startup plans to use the cash from today’s funding round to scale its business and grow more, with a focus on expansion into the U.S. It will also expand its commercial teams and executive leadership. Celus co-founder and Chief Executive Tobias Pohl said the company will open an office in the U.S. in order to position itself in the heart of the electronics industry. “We want to reach every electronics designer out there, enabling them to focus more time on innovation and creativity, while our software reduces the tedious and time-consuming tasks they were dealing with before,” he said.
VulcanForms Announces Capital Raise of $355 Million and Pioneers Industrial-Scale Digital Manufacturing Infrastructure
VulcanForms, a MIT-born company that builds and operates advanced digital manufacturing infrastructure, announced today it has raised $355 million and is valued at over $1 billion. VulcanForms’ investors include Eclipse Ventures, Stata Venture Partners, Fontinalis Partners, D1 Capital Partners, Standard Investments, Atlas Innovate, Boston Seed Capital, Industry Ventures, and the Simkins Family. The company also revealed its first two digital production facilities, in Devens, MA and Newburyport, MA, capturing the full value chain for precision metal components and assemblies.
VulcanForms’ customers include leading companies in the aviation, space, defense, medical, semiconductor, and other critical industries. For instance, the company supplies over a dozen U.S. Department of Defense programs, including the F35 Joint Strike Fighter and Patriot Air Defense System, has delivered thousands of components for the semiconductor industry, and is enabling innovation in medical implants. By combining its breakthrough technology, a data- and simulation-based digital thread, and operational excellence, VulcanForms’ integrated approach allows its customers to innovate faster and produce more without the need to make major capital investments and implement new manufacturing technologies from scratch.
Industrial Next Secures $12M in Pre-A Financing
The leading investors in this round were Lenovo Capital and Incubator Group, while co-investors were Xiaomi‘s strategic investment department and Axpfund. The firm’s existing shareholders, MiraclePlus and YC from the US, also joined in the round. The funds will be mainly used for technology R&D, market expansion and other purposes.
Industrial Next is an advanced manufacturing technology services provider dedicated to helping OEMs build their own factories and providing a new generation of production line technology. Its core products include process intelligence technology, MES and MOS (Material Operating System) software, and so on. It hopes to improve, upgrade and popularize the production line technology that has been verified in Tesla, and focuses on serving emerging OEM manufacturers of new energy vehicles around the world.
Geminus.AI Announces the Completion of $5.9M Seed Round Led by Lam Capital and SK Inc.
Geminus.AI, global leader in physics-informed AI, announced completion of $5.9M in seed funding led by Lam Capital, the venture capital arm of a leading semiconductor equipment manufacturer and South Korean industrial conglomerate SK, Inc. Additional investors include SkyRiver Ventures and Sentiero Ventures, who joined existing investors The Hive and Darling Ventures.
HZG Additive Manufacturing Tech Fund reaches €60M investment
HZG Group, a venture capital investor based in Germany, has completed an investment round resulting in €60 million for its HZG Additive Manufacturing Tech Fund, which will support Additive Manufacturing startups, primarily based in Germany, Austria, and Switzerland across all areas of Additive Manufacturing and related industrial fields.
The investment fund was reported to be significantly oversubscribed, initially having an upper limit of €50 million and later increased to €60 million. Following a €25 million investment by HZG Group founders Kerstin Herzog and Frank Carsten Herzog, the remaining funds came from entrepreneurs and other investors.
Nikola Labs Raises Additional Growth Capital to Transform Maintenance in Manufacturing through $29 Million Series A Preferred Round
Nikola Labs announced today that it has received an additional $9 million in Series A Preferred funding, including participation from Standard Investments. The additional capital closes out the Series A Preferred round, giving Nikola Labs over $29 million in fresh capital to pursue growth and raising its total funding to date to $50 million.
BotsAndUs secures $13M in Seed financing led by Lakestar for its warehouse data intelligence platform with autonomous robots
BotsAndUs, a cutting-edge intelligence and robotics company has secured $13m in seed funding to expand its logistics-disrupting solution globally. Lakestar leads the round, with participation from Maersk Growth, Kindred Capital, and Capnamic.
BotsAndUs already won key customers across various industries. In addition to Maersk and Huboo, BotsAndUs works with Menzies Aviation, the air cargo company that services more than 200 airport locations, – including at Europe’s largest airport, London Heathrow. The company recently entered into a partnership with Maersk – the global integrator of container logistics, to collaborate with Maersk’s warehousing and contract logistics division, initially in one of their warehouses, exploring automating inventory management and acceptance processes, and with time to improve customers’ visibility and access to inventory across facilities. With the fresh capital, BotsAndUs is targeting markets including Germany, France, Nordics, USA, and Canada and driving product development.
UVeye Enters into Strategic Collaboration with General Motors to Expand Technology to Global Dealerships
UVeye, a provider of advanced vehicle diagnostic systems, today announced that it has received an investment from the capital venture arm of General Motors, GM Ventures, to help fund the development and commercialization of the company’s vehicle inspection technology.
As part of the strategic collaboration agreement, the two companies have agreed to work on a variety of vehicle-inspection technology projects involving used-car auctions, fleet operations and automotive dealership sales. In the future, UVeye plans to incorporate electric-vehicle and autonomous-driving platforms into its inspection databases as well.
Chinese Battery Giant CATL Raises $6.7 Billion in Share Sale
CATL raised about 45 billion yuan, equivalent to $6.71 billion, in a heavily oversubscribed deal, it said in a filing late Wednesday. CATL, which is based in Ningde, a city in the southeastern province of Fujian, said it would use some of the proceeds to boost production at several locations in China.
Ocado Group successfully raises over £875m to fund future growth plans
Ocado Group is pleased to announce that it has successfully raised over £875m of gross liquidity through an approximately £578m equity placing and a new £300m revolving credit facility (RCF), providing a very healthy liquidity position for the Ocado Group of almost £2.0bn.
This funding secures sufficient liquidity to deliver the requirements of Ocado’s existing and expected customer commitments into the mid-term, with no additional Group financing as the business becomes cash flow positive. This includes funding the Group’s exciting plans to deliver a pipeline of 58 announced Customer Fulfilment Centres (CFCs) to 11 of the world’s leading grocers globally, helping accelerate channel shift online and support over £20bn in partner sales in the medium term. For Ocado Group, fulfilment of these customer commitments underpins a clear path to potential group revenue of £6.3bn+ and group EBITDA of £750m+ in the mid-term.
CloudNC raises $45m to deliver autonomous manufacturing
CloudNC, the company developing advanced software that enables factories to autonomously manufacture precision parts, today announced it has raised $45 million in a Series B round led by Autodesk, with Lockheed Martin and British Patient Capital participating alongside returning investors Atomico and Episode 1 Ventures. The company will use the additional capital to further develop its SaaS offering and roll out at-scale through integrations with CAD/CAM packages such as Autodesk’s platforms, and to expand its unique full-stack manufacturing capability in Essex, United Kingdom.
CloudNC’s technology already provides a significant degree of autonomy. A user can upload a 3D model of any part and, with one click, the software autonomously determines the tools needed, how they will be used and drafts the code to tell a CNC machine how to make it. This software assistance allows factories to be more efficient while upskilling the workforce, since more junior employees are able to operate the machines.
Warehouse automation firm Hai Robotics closes $100M series D funding round
Less than a year after raising $200 million, Chinese warehouse automation firm Hai Robotics has announced a $100 million series D+ funding round. The latest round was led by Capital Today and an undisclosed U.S. fund. Existing shareholders 5Y Capital, Source Code Capital, Sequoia Capital and 01VC also participated. The funding is the third round raised in the past year as the acceleration of warehouse robotics intensifies across the globe. Hai has now raised $315 million, according to Crunchbase, across six total rounds.
“This round of financing will be spent on stepping up the R&D of warehousing logistics robotic systems and on global business expansion, to provide more efficient, intelligent and flexible products to power every warehouse with robots to address labor shortages and cope with the challenges brought by the aging population,” said Richie Chen, the company’s founder and CEO.
Turntide Technologies Exceeds $1 Billion Valuation With $80 Million Fundraise to Accelerate Decarbonization of Buildings, Equipment, and Vehicles
Turntide Technologies (“Turntide”), developer of breakthrough electrification and sustainable operations technologies, today announced it secured $80 million in equity funding, valuing the company over $1 billion, making it one of a handful of climate tech companies to achieve unicorn status in the first half of 2022.
Addressing climate change is more urgent than ever, and we are grateful to work with an investor base that is committed to achieving meaningful, near-term emissions impact,” said Ryan Morris, Chairman and CEO of Turntide. “Even in the face of global economic uncertainty and supply chain upheaval, the market demand for Turntide’s sustainability solutions has enabled us to secure new investments. This capital will accelerate and further scale our efforts to decarbonize the world’s most energy-intensive industries.”
B2B supply chain startup Groyyo raises $40 million in mix of equity and debt led by Tiger Global
Groyyo, a business-to-business (B2B) manufacturing and supply chain enablement company has raised $28 million in equity and $12 million via debt led by Tiger Global. The funding round also saw participation from early investors Alpha Wave Global. Groyyo plans to utilise the funds raised to scale the team across manufacturing clusters in India and Bangladesh and key demand belts in the United States and European Union.
Boeing backed AI Build scoops $3.2M to revolutionise large scale 3D printing industry
The AI SaaS company Ai Build has just recently announced closing a $3.2M funding round. Its platform assists manufacturers in employing the additive manufacturing process to maximise their efficiency. The funding was led by ACT Venture Partners and existing investor SuperSeed. The intelligent software platform makes use of advanced geometrical analysis, real-world data analytics and physics simulations to automatically adapt and optimise the production of parts across different machines in large enterprises.
Announcing Teleo's Series A
Our Series A is led by UP.Partners, with new investors F-Prime Capital and K9 Ventures joining the round. We’re grateful Trucks Venture Capital, who led Teleo’s seed round, has participated again
The biggest challenge facing heavy civil and mining contractors today is shortage of skilled labor. Finding and retaining operators to run heavy equipment, like dozers, excavators, trucks, wheel loaders, and more, is increasingly difficult. To address this problem, Teleo is developing autonomous technology that retrofits contractors’ existing heavy equipment and turns the machines into semi-autonomous robots. Teleo lets construction and mining contractors run their heavy equipment without an operator in the cabin. Instead, Teleo Supervised Autonomy technology enables the operator to control multiple pieces of equipment while sitting at a remote control station — which significantly enhances both safety and productivity.
Nvidia, Ready Robotics Partner to Accelerate Industrial Automation
Nvidia is set to incorporate Ready Robotics’ Forge/OS universal operating system into its Omniverse Isaac Simulator, as part of a wider collaboration between the companies.
Nvidia’s investment, contributed alongside Micron Technology and SIP Global Partners, will allow Ready Robotics to continue developing its Forge/OS platform. The system creates software drivers for digital twins of robots, helping developers such as Epson, Yasawa and Universal Robots trial and monitor units.
Virridy Raises Series A Funding to Accelerate Development and Adoption of IoT Sensors, Analytics for Environmental Markets
Virridy, dedicated to improving the management of environmental resources through technology, today announced it has closed $5.5 million in Series A funding to accelerate the development and adoption of its satellite-connected sensors for managing water, energy, and agricultural resources. The round was led by Accord Capital, with participation from existing investors FHI 360, Cleo Capital, Reverent Rock, Save Earth, and VertueLab. In addition to the funding, Virridy has rebranded from SweetSense to reflect its commitment to enabling high-quality environmental commodities.
Resilience Announces $625 Million Series D Financing to Expand Network, Bring Innovative Technologies to Biomanufacturing
National Resilience, Inc. (Resilience), a technology-focused biomanufacturing company dedicated to broadening access to complex medicines, today announced it has raised $625 million in a Series D financing, in addition to a previously unannounced $600 million Series C financing completed in August 2021.
The company will use the funding to continue to invest in building its infrastructure network through strategic collaborations, acquisitions, organic growth and international expansion, and by developing innovative biomanufacturing technologies to ensure the medicines of today and tomorrow can be made quickly, safely and at scale. Resilience is also investing in advanced R&D, including stable cell lines for viral vector production, distributed manufacturing for autologous cell therapy and cell-free and continuous manufacturing for biologics.
Vendia announces Series B funding
Today we’re excited to announce the latest milestone for Vendia. We’ve raised an additional $30M in Series B funding led by NewView Capital – with new investment from the Neythri Futures Fund, Operator Partners, and Lux Capital. The funding also includes additional investment from Neotribe Ventures, Aspenwood Ventures, Sorenson Capital, Canvas Ventures, and BMW iVentures. This latest round brings our total funding to $50M, and it will help us grow our internal teams, invest in our go-to-market engine, as well as scale partnerships and new areas of compliance certifications.
Everstream raises $24M to conquer supply chain complexity and disruption
With new investor Morgan Stanley Investment Management joining the round and increased commitment from existing investors Columbia Capital, StepStone Group, and DHL, Everstream’s $24M Series A round financing comes on the heels of a significant acceleration in company growth. To date in 2022, we’ve increased our customer base by 550% and welcomed new banner clients, including AB InBev, KIOXIA, Shaw Industries, Whirlpool, and more. The capital raised will propel innovation and further global expansion while we continue to outpace the competition.
Tractian raises $15M Series A for its machine operations platform led by Next47
Tractian, a machine intelligence company offering one of the most advanced industrial monitoring systems on the market, announced $15 million in Series A funding led by Next47, a global venture capital firm specializing in building category-defining B2B technology businesses. YCombinator and other previous investors also participated in the round. The new capital will allow the company to consolidate its position in the global market by extending operations from Brazil to Mexico and the U.S. and continuing rapid development of industry-leading products.
Buildots Raises $60 Million, Expanding AI Solution To Provide Real-Time Knowledge Across The Entire Construction Process
Buildots, which uses AI and computer vision to modernize construction management, today announced a $60 million Series C round mutually led by Viola Growth and Eyal Ofer’s O.G. Tech along with existing investors TLV Partners, Lightspeed Venture Partners, Future Energy Ventures and Maor Investments. Buildots will use the new funds, secured less than a year after the company’s series B raise, to expand its solution to support more workflows within construction teams.
“This funding round is fueling an essential expansion to our product offering, which in the process moves us closer to our vision of connected construction,” said Roy Danon, co-founder and CEO of Buildots. “Facilitating better decision-making for construction teams is a key step in moving the entire industry towards greater collaboration and efficiency.”
Keelvar Raises $24M to Usher in Next Generation of Intelligent Sourcing Technology
Keelvar, a global pioneer of intelligent sourcing and automation solutions, today announced it has raised $24 million in Series B funding to simplify and radically improve procurement, the world’s most inefficient trillion-dollar marketplace. Keelvar’s sourcing technology - which leverages AI, data science and smart sourcing bots that run on autopilot - empowers customers to make crucial supply chain decisions quickly and confidently amidst ongoing change and disruption.
Tignis, a Technology Innovator in AI Process Control Solutions for Semiconductor Manufacturing, Announces $7.2 Million in Series A Funding to Expand Sales Team, Take Company to the Next Level of Growths
Tignis, a technology innovator in AI process control for semiconductor manufacturing, today announced the completion of $7.2 million in Series A Funding led by early-stage venture capital fund DN Capital with participation by Silicon Valley venture capital firm Clear Ventures, former Microsoft Executive/VMware CEO Paul Maritz and former GE Digital CTO Harel Kodesh.
“This funding will accelerate Tignis on its journey of advancing physics-driven AI process control as an enabler of the next generation of semiconductor manufacturing,” said Jon Herlocker, president and CEO of Tignis. “AI Process control will accelerate semiconductor process development, improve efficiency and quality, and enable manufacturing technologies that previously were too complex to model, resulting in production of smaller and more complex chips, faster time to market and improved yield while reducing the cost of operations. In addition, the advancement of AI process control technology in semiconductor manufacturing that Tignis is undertaking is of particular importance to the US market, to re-establish competitiveness and leadership in this industry.”
SkySpecs Accelerates Growth with $80 Million Strategic Investment led by Goldman Sachs Asset Management
SkySpecs, a Michigan-based provider of renewable energy O&M solutions, announced today that it has closed an $80 million strategic capital raise led by the Sustainable Investing business within Goldman Sachs Asset Management (Goldman Sachs) with additional participation from a subsidiary of NextEra Energy Resources and other existing SkySpecs investors including, Statkraft Ventures, Equinor Ventures, Evergy Ventures, UL Ventures and Huron River Ventures. SkySpecs provides service and software solutions to make renewable energy the most efficient power source in the world. The new funding will help SkySpecs accelerate the expansion of their software offerings by leveraging their existing foundation of automated high quality data collection and analytics, as well as grow its geographic footprint in order to advance its mission to optimize renewable performance and help displace fossil fuel generation.or manufacturing that Tignis is undertaking is of particular importance to the US market, to re-establish competitiveness and leadership in this industry.”
Koch Strategic Platforms Leads $102M Series D Funding Investment in 6K To Accelerate Battery Material Production and Recycling
6K, a leader in the sustainable production of engineered materials for lithium-ion batteries and additive manufacturing produced from its UniMelt® plasma technology, announced today it has raised $102 million in its Series D funding first close. The round was led by Koch Strategic Platforms, a subsidiary of Koch Investments Group, an investment arm of Koch Industries, with participation by investors Energy Impact Partners, Albemarle, HG Ventures, as well as participation by 6K’s existing investors. The Series D proceeds will fund production expansion for premium 3D metal powders in its 6K Additive division and accelerate the deployment of cathode production plants in its 6K Energy division.
The $102 million raised is the first of two funding tranches for Series D, which is expected to reach $150 million in total. With an expected close in spring 2022, 6K will add a limited group of strategic investors. 6K is working with partners throughout the supply chain with the intent to build an end-to-end solution, including its partnership with Albemarle for the sustainable production of lithium products, and Heritage/Retriev for the production of cathode from end-of-life batteries. 6K is opening its $30M Battery Center of Excellence in August 2022 and working through site selection for its first 10-20 GWh cathode plant with production launch in early 2024.
Voxel raises $15M for AI-powered workplace safety
Voxel, a San Francisco-based artificial intelligence (AI)-powered, workplace safety company, has secured $15 million in new funding. The company uses computer vision and AI to identify hazards, risky behaviors and operational inefficiencies across workplaces. Eclipse Ventures led the $15 million series A funding round with MTech and World Innovation Labs’ participation. This latest round of funding brings total equity raised to $18 million.
“We believe computer vision and existing security camera infrastructure are better aligned to improve workplace safety and operations given the larger scope of risks they can identify and the lack of additional hardware requirements,” said Senemar. Down the line, Voxels technology might also help safety planning at the facilities level using simulation and digital twins.
Peak Rock Capital Affiliate Completes Acquisition of Mojix
An affiliate of Peak Rock Capital (“Peak Rock”), a leading middle-market private investment firm, announced today that it has completed the acquisition of Mojix Inc. (“Mojix” or the “Company”), a leading supply chain SaaS platform.
Pete Leibman, Managing Director at Peak Rock, said, “Our investment in Mojix will provide significant growth capital to accelerate the Company’s product roadmap and pursue organic growth and strategic acquisitions. Mojix’s track record as a leading item-level inventory management software platform is impressive and we look forward to partnering with management to expand the Company’s technology capabilities, geographic footprint, and core industry verticals.”
ProteanTecs strengthens its AI-enabled chip analytics platform, raises $45M
ProteanTecs, an Israel-based company providing deep data solutions for electronics health and performance monitoring, today announced it raised $45 million. ProteanTecs claims it’s built advanced cloud and edge enterprise solutions that monitor the health and performance of chips powering electronics from design to field.
ProteanTecs says this additional capital will help to accelerate its market reach by expanding its global team, enabling the company to continue to innovate and enhance its product offering. The company also claims it will mark a significant milestone in the company’s growth strategy and builds on its growth equity round. The funding round was solely led by Addition. ProteanTecs was founded in 2017 and has raised almost $200 million since inception.
Pico MES is creating smarter, smaller factories
Pico MES, a manufacturing execution system (MES) software company focused on small and midsize manufacturers, has raised $6.75 million in seed funding. The funds will enable Pico to improve its tools and expands its sales, marketing and development teams. The company has 22 employees currently and is expected to increase by another 30-50% by the year’s end.
MES systems work by capturing data from manufacturing equipment and the individuals involved in the various steps of making a product. These applications are generally oriented to larger enterprises. But 98.6% of manufacturers in the U.S. have fewer than 500 employees and these companies produce over $3 trillion of goods each year. Pico’s software is priced, configured and optimized to meet the needs of these smaller manufacturers.
Dusty Robotics Raises $45M; Announces the Industry’s First Hardware, Software and Services Solution to Eliminate Construction Errors Through Advanced Robotics
Dusty Robotics, a robotic solution provider for the construction industry, announced today that it has closed a $45 million Series B round. The round was led by Scale Venture Partners and joined by returning investors Baseline Ventures, Canaan Partners, Root Ventures, NextGen Venture Partners, and Cantos. The company will use these funds to grow its team, expand its product offerings, and accelerate manufacturing with the goal of deploying Dusty products on all construction sites in the U.S.
Dusty’s FieldPrinter™ solution eliminates one of the most common sources of conflict on construction projects: incorrect hand-drawn layout using a chalk line process that was invented 5000 years ago by the early Egyptians. The patented FieldPrinter solution automates the process of taking digital floor plans onto construction sites by printing them full-size on the floor through a combination of hardware, software, and services. This end-to-end solution ensures that all trades build from the same set of plans, eliminating errors, expediting conflict resolution, and significantly reducing the cost and duration of construction.
Vention closes a $95M USD Series C financing
Vention, the leading digital manufacturing automation platform (MAP), announced today the closing of US$95M in Series C financing, led by existing investor, Georgian. New investor Fidelity Investment Canada ULC (certain funds) also joined the round alongside existing investors White Star Capital, Bain Capital Ventures, and Bolt Ventures.
Proceeds from Series C financing will be used to grow Vention’s go-to-market, expand the company’s global distribution footprint, and accelerate the development of its hardware and software platform. The company expects to make some of those announcement’s public in September 2022 at its annual product launch event, Vention DemoDay.
KINEXON Raises $130M in Funding Round Led by Thomas H. Lee Partners
KINEXON, a leader in connected and automated processes, today announced a successful $130 Million Series A fundraise. Thomas H. Lee Partners, L.P. (“THL”), a premier private equity firm investing in growth companies, led the round with co-investments from BMW i Ventures and Telekom Innovation Pool (TIP), Deutsche Telekom’s strategic investment fund. KINEXON will leverage the investment to accelerate the development of its automation technology and to continue its expansion in North America and Europe.
Fictiv Secures $100 Million in Funding to Solve Urgent Supply Chain Risks and Accelerate Time to Market for Product Companies
Fictiv, the leader in high-quality, on-demand manufacturing, today announced the closing of a $100 million Series E funding round. The investment will advance Fictiv’s mission to accelerate product innovation with an expanded focus on decreasing supply chain risk through its best-in-category technology and product experience. This unique combination of benefits helps Fictiv’s customers tackle both the continuous, competitive pressures to innovate faster and address the relentless, daily supply chain disruptions.
The funding round, led by Activate Capital, includes new investors Angeleno Group, Cross Creek, and The Westly Group, and existing institutional investors including Accel, Bill Gates, G2 Venture Partners, and Standard Investments. This Series E brings the total investment in Fictiv to $192 million since its founding in 2013.
Voyage Foods, The Technology Leader Future-Proofing Classic Foods, Announces $36M In Series A Funding
Voyage Foods, the leading food technology company known for re-creating some of our most beloved foods using sustainable ingredients and sourcing practices, today announced a $36M Series A round, bringing total funding to date to $41.7M. The round was co-led by funds managed by UBS O’Connor and Level One Fund, and also included participation from Horizons Ventures, SOSV’s Indie Bio, and Social Impact Capital. The closing of this Series A funding round establishes Voyage Foods as a top competitor in the ethical food market, which is projected to grow to $727.86B by 2025 at an annual rate of 5.8% as consumers demand more accountability from popular brands.
Fictiv Secures $100 Million in Funding to Solve Urgent Supply Chain Risks and Accelerate Time to Market for Product Companies
Fictiv, the leader in high-quality, on-demand manufacturing, today announced the closing of a $100 million Series E funding round. The investment will advance Fictiv’s mission to accelerate product innovation with an expanded focus on decreasing supply chain risk through its best-in-category technology and product experience. This unique combination of benefits helps Fictiv’s customers tackle both the continuous, competitive pressures to innovate faster and address the relentless, daily supply chain disruptions.
The funding round, led by Activate Capital, includes new investors Angeleno Group, Cross Creek, and The Westly Group, and existing institutional investors including Accel, Bill Gates, G2 Venture Partners, and Standard Investments. This Series E brings the total investment in Fictiv to $192 million since its founding in 2013.
Divergent Has Raised $160 million to 3D Print the Cars of Tomorrow
Divergent successfully raised $160 million last week to continue creating automotive parts using additive manufacturing. The company has developed a software solution and automated assembly system, called Divergent Adaptive Production System (DAPS®), to design almost all the components of a car. The company has chosen SLM Solutions‘ NXG XII 600 machine as its 3D metal printer, and the funds raised should enable it to increase its manufacturing capacity and open new factories in the United States and Europe from 2024.
Amper raises $11M Series A
Amper, a Chicago-based tech startup that helps manufacturers modernize their operations, has successfully closed an $11M Series A funding round led by Lewis & Clark Ventures, with participation from Foundation Capital, Corazon Capital, Slow Ventures, SOSV, Converge VC and GTMfund. The company will use the financing to expand Amper’s IoT and software tools, with the goal of becoming the leading Factory Operating System for manufacturers.
Battery Analytics Platform TWAICE Announces $30 Million Funding Led by Coatue
TWAICE, a battery analytics company that helps customers in mobility and energy grow safely and sustainably by enhancing the transparency and predictability of batteries, today revealed that it has secured $30 million in additional Series B financing led by global investment firm Coatue. The round extension, which includes personal investment from Lip-Bu Tan and participation from existing investors, builds on TWAICE’s $26 million Series B in May 2021 led by Energize Ventures. The funds will be used to further optimize TWAICE’s cloud analytics platform and expand its presence in Europe and North America, including growing its new Chicago-based office.
InZiv Raises $10M Series A1 to Pioneer the Future of microLED Display Inspection and Repair
InZiv, a leader in high-resolution inspection and repair of microLED, QLED, and OLED displays, today announced that it has raised $10M in a Series A1 round led by BlueRed Partners, a Singapore based venture capital fund. Co-investors include OurCrowd, a number of Asian family offices, and existing investors. InZiv will use the capital to accelerate its product development of fast electroluminescence (EL) and photoluminescence (PL) automated solutions, make strategic company appointments, and expand its global presence with a particular focus on the US and Asia to support growing customer demand. The company has also announced that Yishai Klein, Managing Partner and Co-Founder of BlueRed Partners, and Itzhak Edrei, President Emeritus of Tower Semiconductor, will be joining the Board of Directors.
Convoy Raises $260 Million to Accelerate Digital Freight Transformation
Convoy, the nation’s leading digital freight network, raised $260 million in new funding, comprised of a $160 million Series E preferred equity round led by Baillie Gifford and funds and accounts advised by T. Rowe Price Associates, Inc., as well as a $100 million venture-debt investment from Hercules Capital, Inc. (NYSE: HTGC). The company also secured a new $150 million line of credit from J.P. Morgan. This new funding will enable Convoy to accelerate the development of its efficiency-focused technologies in response to surging customer demand within the nation’s $800 billion trucking industry. With the most recent equity investment, Convoy is valued at $3.8 billion.
Series C Funding Brings the UPSIDE of Meat One (Giant) Step Closer
Our $400 million Series C is the largest round of investment to date in the cultivated meat industry and will help us drive product innovation, partnerships, and the infrastructure needed to make cultivated meat at scale. With this round of funding, we will continue our industry leadership and commercialization push – including building a new commercial facility that will target making tens of millions of pounds of UPSIDE meat every year!
NFW closes $85 million Series B to scale naturally circular materials
Today, we are honored to announce that we have raised $85 million in funding to scale production of high-performance, all-natural, circular materials products coming to market with a wide array of global brand partners. The visionary investors backing our truly circular materials include: Evolution VC Partners, Tattarang,Lewis & Clark AgriFood, Collaborative Fund, AiiM Partners, Engine No.1, Raga Partners, Tidal Impact, Scrum Ventures, Gaingels, BMW i Ventures, Ralph Lauren, Advantage Capital, and Central Illinois Angels.
AmerisourceBergen launches $150M venture fund for emerging healthcare companies
AmerisourceBergen, one of the top pharmaceutical distributors, is investing $150 million in a corporate venture fund focused on healthcare startups. The wholesale giant’s new VC fund, called AB Health Ventures, will initially look to invest in early to midstage health-related startups both in the U.S. and abroad. The fund will prioritize investments in startups focused on innovation in pharmacy and distribution, clinical development and commercialization of pharmaceuticals, practice solutions for healthcare providers and animal health, executives said in a press release.
Tool and Die Software: Our Investment in Atomic Industries
Tool and die making has been one of those stubborn pieces that has yet to find its place in the factory of the future mosaic. This is largely because tool and die making is an outdated, time-consuming, and labor-intensive process that has eluded innovation. With a vision of making mass manufacturing as agile and distributed as software development, Atomic also wants to drive business model innovation by converting tooling from a capital expenditure to an operating expenditure. Focusing first on injection mold design, the team plans to expand into applied automation in fabrication and testing of manufacturing tools. Die casting, stamps, and metal injection molds are also on the roadmap.
$100M to decarbonize corporate and financial organizations
We’re announcing our $73M Series B, bringing our total funding to $100M. But forget the numbers – it’s about who we’re building Sweep with. From the start, my cofounders and I agreed to surround ourselves with the best minds. That’s true for our brilliant team of Sweepers and the choice of investors. Led by global investment firm Coatue, this new round saw the participation of iPod and iPhone inventor Tony Fadell and all our existing investors. It’s a true privilege to build our carbon management platform with the support of respected tech figures in the US and Europe.
Kargo, which powers supply chain visibility with smart loading docks and data, raises $25M
Founded in 2019, Kargo has developed a software-as-a-service (SaaS)-based hardware and software platform that captures and aggregates data from physical loading docks and enterprise software systems — it essentially connects the physical and digital worlds around freight.
Additionally, the company has developed sensor hardware called Kargo Towers, which lean on edge computing and computer vision to capture data on-site — this enables a significant degree of automation, in terms of giving companies a more complete picture of what’s happening on the ground. This includes being able to identify faulty goods, or verify the size and movement of a particular shipment. The sensors’ ability to inspect freight automatically means that unloading time can be reduced by up to 48%, according to the company.
Qualcomm Invests $100 million for Snapdragon Metaverse Fund
Qualcomm announced this week its Snapdragon Metaverse Fund, which boasts a total investment of $100 million meant to support both developers and companies actively producing extended reality (XR) ecosystems as well as the augmented reality (AR) and artificial intelligence (AI) technologies designed to advance the XR experience.
GM Buying Out SoftBank's $2.1 Billion Stake in Cruise Self-Driving Cars
American automaker General Motors announced Friday it is acquiring SoftBank’s $2.1 billion stake in its autonomous car venture Cruise. In addition, GM will chip in another $1.35 billion investment to cover a commitment made in 2018 by the Vision Fund of SoftBank, a Japanese telecom giant. The Detroit firm has ramped up its investments in autonomous technology and its build-out of electric vehicle capacity as it looks to curb emissions and engage in a technology race with Tesla and other self-driving ventures.
CesiumAstro Secures $60 Million In Oversubscribed Series B Funding
CesiumAstro Inc. (“Cesium” or “Company”), a developer of advanced aerospace communication systems, today announced it has secured $60 million in an oversubscribed Series B funding round, co-led by Airbus Ventures and Forever Ventures, with strategic participation from L3Harris Technologies (NYSE: LHX). Returning investors include Kleiner Perkins, Lavrock Ventures, Franklin Templeton Blackhorse Fund, and HEICO (NYSE: HEI).
Stellantis Ventures Launches with €300 Million Fund to Propel Innovation Uptake
Stellantis today announced the launch of its first venture capital fund with the creation of Stellantis Ventures. The fund will initially invest €300 million in early and later-stage startup companies developing innovative, customer-centric technologies that could be deployed within the automotive and mobility sector.
Stellantis Ventures will act as a strategic investor and help startups integrate new technologies within the Company in compressed timeframes – allowing the adoption within months versus years. Investments will not only impact Stellantis’ efforts around sustainability, competitiveness, and in-vehicle technology but will also transform customer experiences around vehicle marketing, sales, and finance.
Startup whose A.I. will help track drug runners’ boats gets $5 million in funding
Today, Modern Intelligence, which had been operating in “stealth mode” since its founding in late 2020, announced the completion of a $5 million seed funding round. The investment is being led by Geoff Lewis, the founder and managing partner of Bedrock Capital. Also participating in the funding round are Vine Ventures, a venture capital firm in New York; Air Street Capital, a London-based investment firm that backs startups using A.I.; and Contrary Capital, a venture firm that manages funds from co-founders and early employees of several well-known Silicon Valley successes, such as Airbnb, Facebook-parent Meta, Tesla, and SpaceX.
Modern Intelligence also said that it has been selected to test its maritime surveillance technology this summer at the U.S. Navy’s Naval Special Warfare’s Trident Specter exercises—which are designed to pilot emerging technologies that might be able to help U.S. Navy’s special operations forces. Modern has been developing its software partly with input from the U.S. military’s Southern Command and its Joint Interagency Task Force South, based in Key West, Fla., which is responsible for combating drug and people trafficking in Central and South America and the Caribbean.
The Untitled Ventures Bets on Green Hydrogen With Its Fresh Investment in Naco
Naco Technologies is on a mission to empower this shift by providing a full spectrum from nano-coating solutions to manufacturing of coated components for electrolyzers and fuel cells. Naco has a unique and hard-to-copy solution that is designed in a way that it uses 10 times fewer amounts of materials, decreasing the electrolyzer and fuel cell stack cost by 30-50%. Equipment based on the Naco designed magnetron system is also more compact and productive if compared to similar competitive solutions.
Menlo Micro Announces $150 Million in Series C Funding as Ideal Switch Technology Accelerates the Electrification of Everything
Menlo Microsystems, Inc. (Menlo Micro), the company responsible for reinventing the electronic switch with its Ideal Switch™ technology, announced today its $150 million Series C, bringing Menlo Micro’s total cumulative funding to over $225 million. Vertical Venture Partners and Tony Fadell’s Future Shape led the round with participation from new investors Fidelity Management & Research Company, DBL Partners and Adage Capital Management along with existing investors, Standard Investments, Paladin Capital Group, Piva Capital, and PeopleFund.
Menlo Micro will use the funding to expand the company’s domestic manufacturing and supply chain for the Ideal Switch, the most disruptive technological innovation in the electronics industry since the advent of the transistor.
$73 M Series C Funding Will Bring Infrastructure Into the 21st Century
Gecko Robotics, a leader in robotics and industrial asset management software, today announced their Series C funding round of $73 million, led by XN with participation from Founders Fund, XYZ, Drive Capital, Snowpoint Ventures, Joe Lonsdale, Mark Cuban, Gokul Rajaram, and others. This latest funding round accelerates Gecko’s stated mission, “To protect today’s critical infrastructure, and give form to tomorrow’s.”
Co-founded by Jake Loosararian (CEO) and Troy Demmer (Chief Product Officer), Gecko focuses on essential industries such as power generation, oil and gas, heavy manufacturing, and defense. Gecko’s robots capture data at previously unheard-of scale and fidelity, climbing pipelines, boilers, tanks, ship hulls, and much more in search of damage, no matter how subtle. Gecko’s software, in turn, enables human experts to contextualize that data and translate it into action.
Supply chain specialist Cloudleaf rebrands as ParkourSC, lands funding
One of the software-as-a-service packages being deployed is made by real-time supply chain operations platform-maker Cloudleaf, which today announced two things: a strategic rebrand under the name ParkourSC, and the closing of a $26 million investment led by Cota Capital, including former executive chairman and CEO of Cisco Systems John Chambers, the current founder and CEO of JC2 Ventures.
Eight-year-old ParkourSC specializes in digital transformation, manufacturing and the pharmaceutical industry. Its real-time platform creates a digital twin of the supply chain and processes billions of events per second to produce diagnostic and predictive insights for location, condition, utilization and anomaly detection. The service can be added to an enterprise system without the need to make costly changes to existing technologies and infrastructure, CEO Mahesh Veerina told VentureBeat via email.
RightHand Robotics Secures $66 Million in Series C Funding
RightHand Robotics, a leader in data-driven, autonomous robotic picking solutions for order fulfillment, announces today that it has secured $66 million in a Series C financing led by top growth investors: Safar Partners, a technology venture fund; Thomas H. Lee Partners L.P. (“THL”), a leading investor in automation and supply chain; and SoftBank Vision Fund 2, which is part of the SoftBank Group. Zebra Technologies, Epson and Global Brain also join this round, along with previous investors GV, F-Prime Capital, Menlo Ventures, Matrix Partners and Tony Fadell’s Future Shape. Previous rounds were led by Menlo Ventures and Playground Global.
RightHand Robotics intends to use the funds to accelerate product and business development, while scaling its global presence and partner network. The company will also expand its offices and invest in talent acquisition to support overall growth plans.
Rios, a startup developing robots that can grasp objects, has raised $28M
Rios today announced that it raised $28 million in a series A funding round led by Main Sequence with participation from Yamaha Motor Ventures, Orbit Venture Partners, Hypertherm Ventures, Morpheus Ventures, Grit Ventures, Valley Capital Partners, and others, bringing the startup’s total raised to more than $33 million.
Founded in 2018 by former Xerox PARC engineers CEO Bernard Casse, Christopher Lalau-Keraly, Christopher Paulson, Clinton Smith, and Matthew Shaffer, San Francisco, California-based Rios develops and deploys robots to factory assembly lines and warehouses to automate supply chain and logistics operations. As a business, the company provides what it calls “factory automation-as-a-service” for brands across manufacturing, food services, agriculture, and biochemical, offering a subscription-based product to mechanize individual manufacturing lines.
Instrumental Secures $50m In Series C Funding To Expand Manufacturing Optimization Solutions
Instrumental Inc., the leader in manufacturing optimization software, today announced it closed $50 million in Series C financing, led by BAM Elevate, with Canaan, Root Ventures and Eclipse Ventures as return investors. Instrumental Inc. will use the funds to expand research and development for new products and make critical hires in engineering and go-to-market teams.
Anvyl Funding Tops $31M, Transforms Supply Chain Technology Market
With this funding round Anvyl is actively hiring to double its team to include software engineers, designers and product managers. Anvyl will continue to scale out its one of a kind machine learning and AI capabilities to help brands see around the corner and prevent issues across their global SC.
Micropsi raises $30M to retrain industrial robots using human demonstrations
Micropsi claims that, using AI, MIRAI can generate robot movements in real time — dealing with variations in position, color, and lighting conditions. It can also be trained and retrained for various process steps, the company says, including detecting leaks in machinery, screwing screws and inserting cables into products, and sorting objects on the assembly line.
“Data is generated by giving demonstrations, the rest is done by MIRAI in the background — it takes [about] 30 minutes of demonstrations and between one and three hours of number-crunching time in the cloud to create a new skill from scratch,” Vuine explained. “Users learn how to create good datasets by iterating their skills: Record some data, see the robot perform, add some more data to address weaknesses, and after three or four iterations, a very robots skill has been created. No one at Micropsi Industries needs to understand the use case, and no one on the customer side needs to understand the machine learning.”
Q5D Technology is excited to announce a $2.5m seed investment in order to take its technology and business to the next stage
Chrysalix Venture Capital, is based in Vancouver, British Columbia and Delft in the Netherlands, and has an excellent track record in hard tech investments, SOSV a Silicon Valley investor who invested pre-seed funds into Q5D and mentored the company through its hardtech startup program HAX, and finally the UK Innovation & Science Seed Fund LP who specialise in seed investment in the UKs most innovative companies.
This funding will help Q5D refine the technologies to automatically manufacture wiring harnesses. The resulting harness can be lighter, easier to maintain and include the CAE benefits of optimised structural design. The harness will be integrated into existing surfaces or built around structures which can be assembled by robots.
Israeli startup Vanti Analytics raises $16M to unlock AI at scale for manufactures
Vanti’s AI platform “provides a first of its kind, end-to-end offering overseeing the entire AI lifecycle – from raw data to development and maintenance of models.” The company provides automated machine-learning products created to help manufacturers without data science backgrounds enable production line optimization, while simultaneously maintaining high-quality standards. Vanti’s technology has been adopted by major manufacturers such as Seagate and Flex and they plan to use the new funding to “fuel growth, expand globally and invest in the company’s next generation of AI technology”.
Vecna Robotics raises new capital as the warehouse automation industry grows
Vecna claims it can automate the process of unloading materials from an incoming truck into outbound trailers, vans, or rail cars. Its robots are designed to gather full cartons or boxes of products and group and package related items together as one unit, delivering materials to assembly lines and moving products to fulfillment operators who pick what’s needed.
All of Vecna’s robots are managed through the company’s Pivotal software, which handles firmware updates and analytics. With Pivotal, warehouse workers can view “pick lists” containing product images and other information and corral the robots based on their location, availability, and more.
Announcing Verusen’s $25M Series B Funding
Verusen announced its Series B Funding of $25 Million and we welcomed a new investor, Scale Venture Partners as an addition to our Board and team. The news comes on the heels of our Series A and the event marks an exciting time in our history (to say the least). In just one year, we have tripled our customer base, achieving 10X growth. We have established new headquarters in Atlanta’s Tech Square, and our wonderful offices in #SupplyChainCity give us the location and space to move faster than ever before.
Austin's SparkCognition raises $123 million, tops $1 billion in value
SparkCognition has developed machine-learning technology to predict when a customer’s systems might fail or be hacked. The technology works by modeling physical and virtual assets and continuously learning from the data. The company has clients in industries including defense, finance, manufacturing, automotive, telecommunications and energy. Customers include Boeing, Hitachi High-Technologies and Aker BP.
Seurat Technologies Raises $21M to Decarbonize Manufacturing
Seurat has already secured seven letters of intent to join its commercialization program from the world’s largest automotive, aerospace, energy, consumer electronics, and industrial companies, and expects to launch its first commercial programs this year. The additional funding will be used towards building Seurat’s production-grade system which is targeted to produce parts at $300/kilogram — comparable to parts produced by machining. By 2025, Seurat anticipates lowering manufacturing cost to $150/kilogram, which is comparable to castings. As Seurat grows, its tech will make the $1 trillion metal manufacturing market fully accessible to additive manufacturing.
Apprentice Raises $100 Million to Adapt Pharma Supply Chains to the Omicron Variant
Apprentice, the company helping pharma manufacturers get medicine to patients faster, announced today that it raised $100 million in Series C funding led by new investor Alkeon Capital Management, with repeat participation from Silverton Partners, Insight Partners, Pacific Western Bank, and new investment by Colorcon Ventures. The company will use the capital to help pharma manufacturers harden their supply chains to keep making patient-critical drugs and adapt vaccines to meet the evolving strains of COVID-19.
Formic Technologies Raises $26.5 Million Series A Led By Lux Capital
Formic Technologies, a provider of turnkey robotic solutions to American manufacturers, has raised $26.5 million in a Series A financing led by Lux Capital with participation from Initialized Capital, Correlation Ventures, Lorimer Ventures, One Planet VC and other strategic investors. In addition, Formic has secured access to more than $100 million of debt capital to fund equipment purchases. This financing will enable the company, now valued at more than $100 million, to expand its operations and support the rapid deployment of its Robots-as-a-Service offering for U.S. manufacturers.
Industrial robotics company Exotec raises $335M to ‘improve supply chain resilience’
Exotec, a French robotics company used by some of the world’s biggest retailers and enterprises, has raised $335 million in a series D round of funding at a $2 billion valuation. Founded out of Lille in 2015, Exotec has created autonomous industrial robots called Skypods that move horizontally and vertically, constituting part of a broader “goods-to-person” picking system that promises to improve companies’ productivity while also alleviating human works from physical exertion.
Nuro raises $600 million in Series D funding
This $600 million financing will support the development and deployment of Nuro’s autonomous delivery service in communities across the country. Dave Ferguson, Nuro co-founder and president, says: “We’re thrilled to have the backing of these prominent investors and world class companies, and honored that they support our vision of improving communities and revitalizing local commerce. “We believe this investment will allow us to accelerate our commercialization strategy and better everyday life with Nuro’s technology.”
Foxglove Raises $3.7M to Build Better Developer Tools For Robotics
Developing and debugging robots today can be difficult, manual, and painfully time-consuming. At Foxglove, we’re on a mission to accelerate robotics development by bringing powerfully flexible, user-extensible, and fully integrated developer tools to the industry.
Today, we’re excited to announce that Foxglove has raised $3.7M in seed funding led by Amplify Partners. These funds will help our team make valuable progress towards our long-term mission – accelerating development for all the potentially world-changing robotics projects out in the wild today.
Seven-figure investment for NODE Robotics.
The first round of financing and thus a decisive step on the way to autonomous intralogistics at NODE now has been completed. In order to guarantee the further growth of the company a team was put together with FTTF, Schauenburg Ventures, Plug and Play Tech Center as well as other private investors that will take the next steps with NODE towards the factory of the future.
For example, the networks on the industry and finance side should continue to be expanded in order to be able to accelerate growth even more. In addition, the right mix of operational support and strategic input and, of course, the money needed to be able to secure the financing of the staff expansion in the next quarters is being relied on for the current challenges.
Samotics Completes Series A Funding Round to Lead Fight Against Industrial Energy Waste
Samotics, a leading provider of real-time actionable insights to eliminate industrial energy waste and unplanned downtime, has completed a EUR 14.5 million Series A funding round. The round was led by 83North, a global venture capital firm with a proven track record in building category leaders across multiple domains including Internet of Things (IoT) and Artificial Intelligence (AI) technologies.
Announcing our $14m Series A
This funding will allow us to significantly grow our team and accelerate the development of the ION platform. More workflows to support complex manufacturing and assembly coordination. This includes managing and understanding equipment and tools used in operation as well as connecting parts with barcode scanning. Connect the supply chain – from parts planning, purchasing, inventory management, and traceability into operations. We will continue rolling out ION Autoplan to more manufacturers as a data-driven solution for supply chain planning. Empower engineers with APIs and SDKs. We believe that the future of the factory will be connected with automation and code, and we are going to empower developers to extend the factory to be more connected, automated, and data-powered.
Claroty Advances Mission to Secure All Cyber-Physical Systems with $400 Million Funding and Acquisition of Medigate
Claroty today announced the next step forward in its mission to secure all cyber-physical systems (CPS) across industrial, healthcare, and enterprise environments – the Extended Internet of Things (XIoT) – by raising $400 million in Series E funding and entering an agreement to acquire Medigate, a leading healthcare IoT security company. The round brings the company’s total funding to $635 million, making it the most well-funded cybersecurity company in the industrial (OT), healthcare (IoMT), and enterprise IoT sectors.
Spoiler Alert Raises $11 Million to Accelerate Waste Prevention Efforts in the CPG Industry
Spoiler Alert will use this latest round of funding to continue expanding its team and solution offering. This includes investments in platform enhancements to move more inventory through diversified channels, as well as go-to-market efforts to support product category diversification. “Many Americans continue to depend on discount retail to fight food and hygiene insecurity,” said Ricky Ashenfelter, Spoiler Alert’s co-founder and chief executive officer. ”I am very proud of what our team has built so far, and we look forward to empowering brands and retailers to continue building loyalty with cost- and climate-conscious consumers.”
Sierra Space Secures Record $1.4 Billion Series A Growth Investment and Achieves $4.5 Billion Valuation
Sierra Space aims to build the future of space transportation, commercial space destinations and infrastructure, and enabling technologies that will help to build a vibrant, growing commercial space economy. As the LEO economy reaches a critical inflection point – driven by the convergence of the increasing commercialization of space, renewed public interest and defense considerations – Sierra Space is developing foundational infrastructure to support this growing ecosystem. By opening up affordable access to space, Sierra Space hopes to enable existing businesses, entrepreneurs, researchers and governments to create exciting breakthroughs that can empower humanity to begin new civilizations in space and benefit life on Earth.
Machina Labs Exits from Stealth with Series A, Bringing Total Raised to $16.3 Million
Machina Labs, a pioneer in advanced manufacturing through robotics and artificial intelligence (AI), today emerged from stealth and announced it has closed a Series A round of financing, bringing the total raised to $16.3 million. Innovation Endeavors led the round with participation from Congruent Ventures and Embark Ventures. The funds will be used to significantly grow Machina’s team in Los Angeles and to expand its R&D and manufacturing capacity to meet rapidly increasing customer demand.
“Manufacturing must be reinvented to keep up with the pace of change in this highly competitive market,” said Edward Mehr, Machina Labs CEO and co-founder. “We’re excited to finally reveal Machina Labs’ manufacturing platform, which combines the latest advances in robotics and AI to democratize access to rapid manufacturing so that anyone with a great idea can manufacture parts quickly, efficiently and cost-effectively. These software-defined, robotic facilities are the factories of the future, and we’re thrilled to have our investors on board to help us get there.”
Our Series A Funding: What It Means for Our Partners, Customers, and SVT Team
The need for flexible supply chains, now more than ever, has created a market that intensely needs automation - and a way to rapidly integrate and orchestrate it. This Series A funding ensures we’ll continue to provide a tailwind for software companies, robot companies, retailers, manufacturers, and integrators to bring their products to market and embrace more technologies more quickly and with less risk.
Augmentir Raises $7.5M in Oversubscribed Series A to Advance AI-based Performance Support for the Industrial Workforce
Augmentir, Inc., the world’s only artificial intelligence-based connected worker software provider, today announced that it has secured $7.5 million in Series A financing. This new funding will enable Augmentir to grow its team and to expand its leadership position in delivering performance support for industrial frontline workers. The Series A was led by Gardner Lewis Asset Management along with other key investors Lerer Hippeau, Pritzker Group Venture Capital, and HOLT Ventures.
The company will use funds to expand its leadership position in AI-based performance optimization and workforce development for the industrial frontline workforce.
Landing AI Secures Funding to Unlock Power of Small Datasets, Unleashing Next Era of AI
Landing AI, led by artificial intelligence visionary, Andrew Ng, developed LandingLens™, a fast, easy to use enterprise MLOps platform. It applies AI and deep learning to help manufacturers solve visual inspection problems, find product defects more reliably, and generate business value.
“You don’t always need big data to win with AI. You need good data that teaches the AI what you want it to learn,” said Ng, Founder & CEO of Landing AI. “AI built for 50 million data points doesn’t work when you only have 50 data points. By bringing machine learning to everyone regardless of the size of their data set, the next era of AI will have a real-world impact on all industries.”
The data-centric approach of Landing AI is also key to making LandingLens fast and easy-to-use. The process of engineering the data, instead of the AI software, gives an efficient way for manufacturers to teach an AI model what to do. Domain experts, not just AI experts, can now build an AI system, and take it to production. For example, rather than needing to write pages of code to train a neural network, a domain expert can do it with a few mouse clicks. This no code/low code data-centric platform enables new users to build advanced AI models in less than a day. Vision inspection projects that used to take over a year can be executed in just weeks using LandingLens.
SimScale raises €25M for its SaaS engineering simulation platform from Insight Partners, Draper Esprit, others
David Heiny, co-founder and CEO of SimScale, explains, “Our vision is to make engineering simulation a standard tool in every engineer’s tool kit, and accessible early in the design stage, throughout the entire R&D cycle, and across teams, applications and industries. With hundreds of thousands of users and millions of simulation jobs carried out, we’ve made significant progress towards it in recent years.”
However, Heiny continues, “there are still entire industry sectors that we haven’t started addressing yet, and billions of dollars in CAE market value left untapped. This additional investment allows us to double-down on our strategy and accelerate our pace at which we extend SimScale’s offering.”
Soli Organic™ Announces $120 Million Financing Arrangement with Decennial Group to Expand Certified Organic Controlled Environment Agriculture
Soli Organic Inc. (“the Company”), formerly known as Shenandoah Growers, Inc., the nation’s only soil-based, controlled environment agriculture company delivering 100% USDA certified organic produce to more than 20,000 retail stores nationwide, today announced a $120 million financing arrangement with leading real estate development firm Decennial Group.
The arrangement with Decennial Group is a key component of the Company’s strategy to further expand production capacity to meet growing demand. The Company intends to build eight new farms, in addition to its seven farms in operation today. The Decennial Group financing will support construction of three of the eight planned facilities. Each 100,000 square foot facility will have an annual production capacity of 5 million pounds. The Company recently broke ground on the first facility financed through Decennial Group, which is located in Anderson County, South Carolina, and is anticipated to be operational by Q2 2022.
Augury Raises $180M To Become One of the First Industry 4.0 Unicorns
The new investment and valuation is a validation of the emerging Machine Health category, of which Augury is the pioneer and leader. Machine Health uses the Internet of Things and Artificial Intelligence to predict and prevent industrial machine failures and improve machine performance. Machine Health allows manufacturers to reduce downtime, increase production capacity and productivity, optimize the cost of industrial asset care and accelerate their digital transformation.
Augury’s customers include some of the world’s top manufacturers, including Colgate-Palmolive, PepsiCo, Hershey’s, ICL and Roseburg. The company’s Machine Health solutions deliver an ROI of 3x-10x for customers, with programs paying for themselves within months.
SafetyChain Software Receives $50 Million Strategic Growth Investment from JMI Equity
SafetyChain Software, the leading cloud-based plant management software solution for manufacturers, today announced that it has received a $50 million minority growth investment from JMI Equity (“JMI”), a growth equity firm focused on investing in leading software companies. With the additional capital SafetyChain will continue to advance its market leadership positions in food and beverage and consumer packaged goods while also accelerating the growth of several key expansion initiatives.
RightHand Robotics raises $19M for robotic piece-picking
The new funding will likely be used to help scale RightHand’s business. In April 2021, RightHand introduced its RightPick 3 item-handling robot. Designed from the ground up, RightPick 3 features a modular, industrialized hardware design, software APIs and international compliance. The system is designed to be used in a variety of applications, including AS/RS, sorter induction, auto-bagger, kitting and more.
Shapeways is officially a Publicly-Traded, AM Company via Merger with Galileo Acquisition Corp.
Following the business combination and related PIPE investment, Shapeways will receive $103 million of gross proceeds, including a $75 million fully-committed common stock PIPE anchored by top-tier investors including Miller Value, XN, and Desktop Metal. The PIPE also includes investments from existing Shapeways investors Lux Capital, Union Square Ventures, INKEF Capital and Andreessen Horowitz. Proceeds will be used primarily to accelerate the Company’s additive manufacturing capabilities, accelerate the rollout of its SaaS offering, expand its material and technology offerings to extend market reach and grow customer share of wallet, as well as to provide additional working capital.
Hai Robotics picks up $200M for its warehouse robot
Hai Robotics, a Shenzhen, China-based warehouse robotics startup that develops autonomous, case-handling robotic (ACR) system, announced it has raised $200 million. The funding comes from two separate equity rounds, a Series C and Series D, which are being disclosed simultaneously.
Its Series C funding was led by 5Y Capital, with participation from Sequoia Capital China, Source Code Capital, VMS, Walden International and Scheme Capital while the Series D round was led by Capital Today along with existing investors including Sequoia Capital China, 5Y Capital, Source Code Capital, Legend Star and 01VC.
The latest fundings, which come after its $15 million Series B+ round in March this year, will be used to bolster its robot fleet with technological upgrades, penetrate further to the global market, hire talent and support its supply chain management.
aPriori Raises $30 Million Series D Investment to Further Capitalize on Strong Demand for Digital Manufacturing Solutions
aPriori Technologies, the leading provider of digital manufacturing software featuring design for manufacturability (DFM) and cost (DTC) solutions, announces today that the company has recently completed a Series D investment round of $30 million. Co-led by Bruce Clarke of PBJ Capital and Gaurav Tewari of Omega Venture Partners, the investment brings the valuation for the company to $280 million.
“Cost Insight Design and Cost Insight Generate are just the first in a series of collaborative cloud-based applications that we are bringing to market. This new investment will be used to hire additional staff to further accelerate the development of this suite of role-based cloud applications for engineering, sourcing, and supplier teams,” said Stephanie Feraday, aPriori President and Chief Executive Officer. “The investment will also help to expand the company’s sales and marketing organizations to enable broader penetration of the global manufacturing market, their supply chains, and government organizations such as the Department of Defense.”
Fractory Raises $9M to Rethink Manufacturing Supply Chain Metalworks
Founded in Estonia but now based in Manchester, England — historically a strong hub for manufacturing in the country, and close to Fractory’s customers — Fractory has built a platform to make it easier for those that need to get custom metalwork to upload and order it, and for factories to pick up new customers and jobs based on those requests. Fractory’s Series A will be used to continue expanding its technology and bringing more partners into its ecosystem.
InUse Raises €2.4 Million in Series A
Founded in 2015 by Laurent Couillard, the company’s managing director, and Etienne Droit, the president, InUse is a startup specialized in the manufacturing sector. Publisher of an IoT SaaS platform, this solution allows manufacturers to meet two fundamental challenges that are the performance optimization of their industrial equipment and the reduction of the environmental impact of their plants. Indeed, thanks to the real-time collection and interpretation of data from the machines, the integrated IoT platform delivers information that allows to control production performance, identify malfunctions, anticipate breakdowns and reduce the waste of materials and natural resources. It is an eco-efficient solution. Today, InUse has more than 20 customers and the platform is deployed in 150 plants in Europe, North America and Japan.
Green Tech Start-Up ColloidTek Raises 2.8M€ Of Venture Funding To Help Factories Optimize Their Liquid Processes
Collo improves the performance of industrial liquid processes by helping the customer to make smarter decisions with up-to-date, easy-to-understand and real-time information of the process liquid. The Collo analyzer is installed directly into the process line, where it measures the process liquid continuously, bringing eyes inside the process. The Collo technology creates a real-time electromagnetic fingerprint of the measured liquid with high sensitivity to changes in the chemical composition or phases in the liquid. By accurately measuring the real-time state of the liquid, the companies can see exactly when a process step is ready or when the right amount of chemicals has been added, eliminating excess waste of resources.
The funding will enable ColloidTek to increase sales in Europe, build a foothold in the American market, and grow the Collo team with new talent. “Our liquid performance platform offers not just arbitrary data, but actionable parameters for easier and more comprehensive process control”, says Matti Järveläinen, the CEO of ColloidTek. “We are developing our analytical system into an even easier-to-implement solution that improves the efficiency of any liquid process.”
Tulip Interfaces Announces $100M Series C Led by Insight Partners to Help Frontline Industries Bring Their Operations to the Cloud
Tulip Interfaces announced today that it has raised $100 million in Series C funding led by New York-based global private equity and venture capital firm, Insight Partners. New investors Pitango Growth and Marc Benioff’s TIME Ventures joined the round, as well as existing investors DMG MORI, NEA, and Vertex Ventures US.
With Series C funding, Tulip plans to expand its international operations to better support its hundreds of global enterprise customers like Terex, Delta Faucet, and Outset Medical; spanning more than 35 countries. Tulip intends to double its headcount, expanding operations in Boston, Munich, and Budapest; and establish a new APAC HQ in early 2022. The company plans to invest in new product features, and further apply AI and data science features to commonly used customer workflows. Tulip will dedicate additional resources towards its growing user community and Frontline Operations Marketplace.
Varda Raises $42MM Series A, to build humanity’s first Space Factories
Varda Space Industries, a company building space factories, announced a $42mm Series A. The company — founded just 8 months ago — has raised over $53mm to date, showing the appetite for Varda’s near-term, pragmatic, and commercially viable approach to space manufacturing. The company produces an assortment of materials that are only possible to make in the zero-gravity environment of space and brings them back to customers on Earth. The company will launch its first space factory in Q1 2023 and return a first batch to Earth a month later.
Path Robotics Raises $100M
Path Robotics, producer of the world’s first truly autonomous robotic manufacturing system, today announced it received $100 million in pre-emptive Series C financing led by Tiger Global. Existing investor Addition also participated in the round, along with Silicon Valley Bank.
“Most robots merely repeat what they are told, with no ability to improve themselves. The future of manufacturing hinges on highly capable, flexible robotics. Robots that can truly see and learn,” said Andrew Lonsberry, CEO of Path. Path’s autonomous robots solve the world’s hardest manufacturing challenges, with no programming required. For local manufacturers struggling to find skilled laborers, this is powerful. “Path is laser-focused on partnering with manufacturers to empower them to thrive in the resurgence of this critical industry,” says Lonsberry. Through computer vision and artificial intelligence, Path’s system today can see what is in front of it, understand what it is supposed to do, and with the push of a button, execute a weld.
The new funding will expand production of the Inkbit Vista in the U.S. and beyond
Inkbit, the company that built the first 3D printing system driven by vision-based feedback control, today announced the closing of $30M in its Series B round of financing. The new funding, led by Phoenix Venture Partners LLC (PVP), will boost production of the company’s additive manufacturing system, Inkbit Vista, and grow the commercial team to support expansion into the APAC and EMEA regions.
Since spinning out of the Computer Science and Artificial Intelligence Laboratory (CSAIL) at MIT in 2017, Inkbit has raised a total of $45M in equity investments from investors such as Stratasys, DSM Venturing, Ocado, 3M, IMA and Saint-Gobain.
Gearflow Raises $3M Seed Round to Accelerate Construction Parts Procurement
Gearflow.com, the first online parts marketplace built for the construction industry, has raised $3M in seed funding to streamline parts procurement by enabling equipment owners to quickly buy the parts they need from suppliers they can trust. The round was led by Watchfire Ventures, with participation from Newark Venture Partners, Liquid2 Ventures, Path Ventures, and Harvard Business School Angels.
Anduril Raises $450 Million in Series D Funding
Defense technology company Anduril Industries today announced $450 million in Series D funding and a post-money valuation of $4.6 billion, more than double the company’s previous valuation in July 2020.
Anduril’s Lattice AI software platform, hardware products, and people are currently in the field actively supporting operations with the Department of Defense, the U.S. Department of Homeland Security, and the UK Ministry of Defence, as well as other agencies. Lattice uses computer vision, machine learning, and mesh networking to fuse real-time sensor data to create a single, autonomous operating picture and command and control platform. Lattice ties together Anduril’s family of site security solutions deployed along the southwest border to provide situational awareness, and on military bases in the U.S. and abroad to autonomously detect, track, and interdict intrusions by people, drones, and other vehicles. Lattice is also the operating system that enables Anduril’s autonomous unmanned aircraft, such as the new Ghost 4 sUAS, to perform their missions.
MachineMetrics Announces $20M Series B Funding Round
MachineMetrics, an industrial data startup that elevates manufacturing performance through autonomous machining, announced today it has raised $20 million in Series B financing. The company will use the funding to scale its platform globally and democratize access to the machine insights that power manufacturing operations.
“Manufacturing is on the brink of a digital renaissance. The intersection of software, big data and physical machinery is the next frontier for manufacturing and a proven solution for overcoming the production and labor shortages we are experiencing right now,” said Bill Bither, co-founder and CEO of MachineMetrics. “Today’s industrial machines are inefficient because they require significant human intervention to operate. MachineMetrics makes it easy to harness data from these machines and lays the foundation for the factory of the future where machines operate autonomously and with predictability.”
Relativity Space Raises $650M to Scale Terran Production
Relativity Space, the first company to 3D print an entire rocket and build the largest metal 3D printers in the world, today announced it closed a $650 million Series E equity funding round. The round was led by Fidelity Management & Research Company LLC with participation from investors including Baillie Gifford, funds and accounts managed by BlackRock, Centricus, Coatue, K5 Global, Soroban Capital, Tiger Global, Tribe Capital, XN, Brad Buss, Mark Cuban, Jared Leto, and Spencer Rascoff, among others. Following the announcement of its fully reusable, entirely 3D printed rocket, Terran R, the company’s latest round of funding enables the scaling of the Terran R program and long-term infrastructure development.
Realtime Robotics Completes $31.4 Million Series A Funding Round
Realtime Robotics plans on applying the new funds to accelerating its product rollouts and continuing its investment in innovative enhancements and solutions. The company will deepen its reach in the warehouse automation industry, while continuing to serve global automotive manufacturers and their supply chain. Working closely with long term partners and customers, Realtime will also continue to perfect its “holy grail” collaborative system, which incorporates its proprietary real-time planning technology with other certified system components to enable industrial robots to proactively adapt their motions and avoid unwanted contact with humans, while continuously accomplishing their intended tasks.
MacroFab Announces a $15M Series B round led by Edison Partners to Accelerate Growth for Manufacturing-as-a-Service Platform for Electronics
MacroFab today announced $15 million in new funding. The round was led by Edison Partners, with prior investors including ATX Venture Partners participating. Altium Limited, a leader in the electronics design software space, joined the round as a strategic investor aligned with the MacroFab mission of digitizing electronics production from earliest design stages to prototype development and commercial production.
Formlabs Doubles Valuation to $2 Billion with Close of $150 Million Series E Led By SoftBank Vision Fund 2
Formlabs, a leading 3D printing company, today announced it raised a $150 million Series E led by SoftBank Vision Fund 2*, doubling its valuation to $2 billion. Formlabs will use the funds to continue to grow its portfolio of 3D printing technologies, enabling greater mass production and customization, as well as grow its team across its seven offices worldwide.
Cognite Secures $150 Million Investment from TCV to Accelerate Digitalization of Global Industries
Cognite, a global leader in industrial software innovation, announced today that it has signed an investment round of $150M with leading global growth equity firm TCV, valuing the company at $1.6B. This investment marks one of the largest funding rounds for a SaaS company in Europe and confirms industrial digitalization as a global megatrend. The new valuation round constitutes unicorn status for Cognite.
“Cognite is on a strong trajectory to help transform industry, and since our founding four years ago, we have managed to attract top global talent, and partner with top industrial companies to accelerate modern industrial data management worldwide,” said Dr. John Markus Lervik, CEO and co-founder of Cognite. “The partnership with TCV allows us to amplify our software solutions to empower asset-intensive businesses to improve their sustainability and profitability of operations, and perfectly complements the extensive industrial knowledge brought in by our majority shareholder, Aker.”
CognitOps Raises $11M Series A Funding Led by FirstMark Capital and Announces New Austin, TX HQ
CognitOps will use the funds to expand internationally, increase sales capacity, and expand product development. Although global supply chains have invested over $10 billion in warehouse management solutions (WMS) over the past five years, operators are still struggling to adapt to labor shortages, accelerated service levels, and disrupted supply bases. The CognitOps platform empowers supply chain leaders to make better, faster decisions to manage complexity, reduce cost, and improve cycle time without the need to upgrade or replace their existing investments.
FourKites Secures $100M Series D Funding from THL, Qualcomm Ventures, Volvo Group and Zebra Technologies
FourKites, the #1 real-time supply chain visibility platform, today announced a new $100 million Series D financing round. The growth financing is led by Thomas H. Lee Partners, L.P. (“THL”), with participation from Qualcomm Ventures, LLC, Volvo Group Venture Capital AB and Zebra Technologies, as well as existing investors August Capital, CEAS Investments, Hyde Park Angels, Hyde Park Venture Partners and Bain Capital Ventures, bringing total capital raised to over $200 million. The funding heralds the advent of a new era in supply chain management, where automated, interconnected and collaborative global supply chains — spanning transportation, warehouses, stores, trucks and more — are powered and optimized by real-time visibility data and machine learning.
Flex Logix Raises $55M Series D Financing As It Accelerates Market Adoption of AI Inference and eFPGA Solutions
Flex Logix® Technologies, Inc., supplier of the fastest and most-efficient AI edge inference accelerator and the leading supplier of eFPGA IP, announced today the close of a $55 million oversubscribed Series D funding round. Mithril Capital Management led the financing with significant participation by existing investors Lux Capital, Eclipse Ventures and the Tate Family Trust.
Flex Logix’s inference architecture is unique. It is optimized for low latency operation required by edge megapixel vision applications. It combines numerous 1-dimensional tensor processors with reconfigurable, high bandwidth, non-blocking interconnect that enables each layer of the neural network model to be configured for maximum utilization, resulting in very high performance with less cost and power. The connections between compute and memory are reconfigured in millionths of a second as the model is processed. This architecture is the basis of Flex Logix’s InferX™ X1 edge inference accelerator which is now running YOLOv3 object detection and sampling to lead customers.
North Vancouver-Based Robotics Company Novarc Technologies Raises $2.6 Million Growth Financing From BDC Capital
BDC Capital has provided $2.6 million in growth capital to North Vancouver-based robotics company Novarc Technologies through its new intellectual property (IP) Backed Financing Fund. Their cutting-edge Spool Welding Robot (SWR) allows pipe fabrication companies serving the oil & gas, building construction, and shipbuilding industries to be more competitive when bidding on projects by dramatically increasing the productivity and quality of their pipe welding operations.
They will use the proceeds of this transaction to increase the company’s technical capabilities, expand their team with strategic hires across sales, marketing, finance and R&D, as well as support their growth plans.
Symbio emerges from stealth with $30 million to automate industrial assembly
Emeryville, California-based industrial robotics startup Symbio Robotics today emerged from stealth with $30 million in funding. The company says the capital will be put toward further developing its technology as it looks to sign new customers. Symbio, which was founded in 2014, claims its software can help by allowing factory-floor robots to “learn” what to accomplish. The company’s middleware lets developers use modern programming languages like Java, Ruby, and Python to create instructions for single or whole fleets of robots. The platform self-optimizes over time, letting robots improve on tasks they’ve been assigned.
Physna raises $20 million for AI that analyzes and digitizes 3D objects
Physna, a Cincinnati, Ohio-based startup developing an AI-powered 3D modeling platform for industrial engineering, today announced that it raised $20 million. The company says the funds will be used to grow its team and increase development as new customers sign on.
It’s often difficult to search using the 3D model of a physical part, such as a CAD model or a 3D scan — especially when the part is a component of something larger (e.g., matching a screw to an assembly). Traditionally, solutions have been costly and time-consuming, impacting processes not only during engineering procurement but parts identification. It’s estimated that while over 70% of the economy is centered around physical goods, less than 1% of software is capable of handling 3D data.
AMP Robotics raises $55 million for AI that picks and sorts recyclables
AMP Robotics, a Denver, Colorado-based startup creating robotic systems that sort recyclable material, this morning announced it has closed a $55 million series B funding round led by XN. The startup says it will use the funds to scale its business operations and develop AI product applications that integrate into materials recovery facilities to increase recycling rates for its customers.
AMP Robotics claims its platform delivers higher pick rates (80 items per minute) than manual processes, as well as holistic monitoring of material streams without retrofitting. It is modular in design, enabling facilities managers to adapt it to existing workflows, and it’s tailored to individual brands and SKUs of recyclable objects. AMP Robotics’ products can sort not only metals, batteries, capacitors, plastics, PCBs, wires, cartons, bottlecaps, cardboard, cups, clamshells, lids, aluminum, and thin film by color, clarity, and opacity, but also materials made of metal, mixed wood, asphalt, bricks, concrete, and mixed plastics (e.g., .polyethylene terephthalate, high-density polyethylene, low-density polyethylene, polypropylene, and polystyrene).
Robot AI Startup Omnirobotic Raises $6.5m to Transform Industrial Manufacturing
Omnirobotic, a robotics automation startup, announced today that it has closed a seed round of $6.5 million CAD ($5 million USD) to further develop and commercialize its AI Platform for Factory Robots. Fonds de solidarite FTQ (the “Fonds”) and Export Development Canada (EDC) led the round with participation from Real Ventures and a joint venture including the company’s current employees. This funding enables Omnirobotic to continue building autonomous robotic capabilities for high-mix production environments, allowing industrial robots to see, plan and execute high-value-added processes like painting, welding and machining with limited human oversight.
Augury Raises $55 Million Series D Funding to Sustain Rapid Growth, Announces New Global Partnerships and Capabilities
The company also announced new partnerships and capabilities to help its global customers gain the benefit of prescriptive diagnostics and machine insights, no matter where in the world they operate. These include:
- Building a network of delivery partners to supplement Augury- and Customer-led installations, including ProPap in Germany, Caverion in Finland and Pluriservice in Italy, Fuse IoT to cover Latin and South America, and 42 North Solutions who provides additional coverage for North America;
- Expanding language support for the Augury platform, both for the platform itself and the key alerts that customers receive;
- Broadening the range of country-specific certifications to enable deployment of Machine Health in more geographies than ever before.
Praemo Raises CAD $4.5 Million from McRock, Caterpillar Venture Capital and BDC Capital’s Industrial Innovation Venture Fund
“We are excited to be working with Caterpillar Venture Capital Inc. and BDC Capital Inc.’s Industrial Innovation Venture Fund, and to expand our relationship with McRock. This group of investors speaks to the value Praemo brings to industrial operators; McRock as a leader in the industrial IoT technology space, BDC Capital as a key shareholder providing the capital needed to drive this next wave of advancement, and Caterpillar Venture Capital Inc., a wholly-owned subsidiary of Caterpillar Inc., the world’s leading manufacturer of construction and mining equipment, engines, turbines and locomotives.”, said Michael Martinez, co-founder and CEO at Praemo. “This additional funding allows us to accelerate our technology roadmap while sharing our customers’ successes more broadly across the industrial marketplace.”
Senseye secures investment from two giants of Japanese industry
Senseye, an industrial Asset Performance Management company, has secured new investment from NTT DOCOMO Ventures and Sony Innovation Fund. The investment, also supported by existing investors, will drive Senseye’s expansion into the Japanese market and expand its research activities for its proprietary Artificial Intelligence solutions.
Simon Kampa, CEO of Senseye, comments: “We look to Japan for inspiration in manufacturing excellence. Indeed, we derived Senseye from the Japanese word Sensei to highlight that connection. We are therefore pleased and proud to receive this new investment from two leading Japanese businesses.”
Zymergen Takes Aim at $3 Trillion Chemical & Materials Industry With $300 Million in New Funding
Science and material innovation company Zymergen today announced $300M in new investment to accelerate its delivery of revolutionary, high performance materials. The investment includes initial Series D funding led by Baillie Gifford, joined by Baron Capital Group and one of the world’s largest sovereign wealth funds, as well as additional growth financing from Perceptive Advisors. A number of current investors are also returning, and Zymergen expects to raise additional capital in Q4 as part of a Series D round.
This infusion of capital powers Zymergen’s charge into the $3 trillion chemical and materials industries, speeding the manufacture of their groundbreaking Hyaline film, as well as the commercialization of additional breakthrough products across electronics, agriculture, consumer care and healthcare. The investment announced today helps to bring the revolutionary Hyaline product to market more quickly, and accelerates Zymergen’s development of all-natural pesticides and other bio-derived crop protection products, as well as a bio-based insect repellent. These product innovations are supported by a powerful platform and technology infrastructure, protected by a strong and growing data set.
DeepX raises $15M to accelerate machine automation business
Since its establishment in April 2016, DeepX has been driving the development of general-purpose AI technologies for the automation of various machinery and field operations in a wide range of industries. The raised funds will be used to invest primarily in engineering and computational resources to accelerate the commercialization of construction equipment automation, in-factory work automation, and the provision of automation modules. In particular, we will pursue a robustness, transferability, explainability and sample efficiency in recognition and control technologies for the real world.
MakinaRocks raises $10M in Series A
MakinaRocks, an industrial AI solutions startup aiming to revolutionize the world of manufacturing, announced today that it has successfully raised $10 million in Series A funding from prestigious global investors. MakinaRocks expects to use the funds to expand the company’s portfolio and develop a Software as a Service (SaaS) platform built on the existing on-premise solutions to secure domestic and international customers. The company is actively hiring skilled individuals in data analysis, AI development, and business development.
Airbus leads major €8m investment in energy harvesting chip designer
This funding round was led by existing investors Airbus Ventures and French venture capital fund Partech, with KBC Focus Fund, W.IN.G, Noshaq Ventures, LeanSquare, Nivelinvest and Vives also contributing and brings the total investment to $13.2m.
The company sees tens of billions of connected IoT and edge computing devices starting to be deployed and activity will keep on ramping up in the decades ahead. Reliance on disposable batteries in this context is simply impractical, with heavy network maintenance costs being incurred (as depleted batteries will need replacing periodically), along with huge damage to the environment.
RIOS Secures $5M in Venture Funding
RIOS, developer of dexterous AI-powered robots for automating assembly lines, came out of stealth mode today and announced it has raised $5 million in venture funding. RIOS, which spun out of Stanford University and was founded by former Xerox PARC engineers, helps global customers automate their factories, warehouses, and supply chain operations by deploying a new class of highly-dexterous robots that handle hard-to-automate tasks in unstructured environments. RIOS not only automates individual lines, but also builds “lights out” factories by partnering with its network of systems integrators.
Instrumental Inc. raises $20M to close the loop on $1 Trillion of economic waste in electronics manufacturing
Instrumental Inc., creator of the manufacturing optimization software category, has secured $20 million in Series B financing to accelerate development of its manufacturing optimization platform. This first-of-its-kind solution enables hardware teams to accelerate time to market, reduce rework, derisk ramp, and increase yields by providing unprecedented real time remote visibility into assembly and product data.
Element Raises $18 Million to Enable Data-Driven Transformation of Industrial Enterprises
Element, an Industrial Data Hub provider, today announced it has closed an $18 million Series B financing co-led by new investors Activate Capital and Forte Ventures that also included participation from other new and existing investors. As part of the investment, Element is adding to its board of directors David Lincoln, managing director of Activate Capital, and Louis Rajczi, partner at Forte Ventures. The funding comes as Element gains customers in the chemical, power, agriculture and oil/gas markets, and as it expands enterprise-wide deployments.
Apprentice.io Gains Funding for AR & AI-Driven Software Platform to Meet COVID-19 Pharma Demands
Bringing a drug to market is an incredibly complex process that requires many stakeholders. The ability of these stakeholders to collaborate in the lab or manufacturing suite has been exceptionally difficult due to the pandemic. Apprentice site deployments have increased 6x since March due to their ability to provide a secure platform for pharma teams, subject matter experts, suppliers, FAT-SAT sites and contracted partners to connect and troubleshoot remotely, moving product development along efficiently.
Keelvar, the Industry Leading Sourcing Software Provider, Raises $18 million in Series A Funding
Cork-based Keelvar, an industry-leading strategic sourcing software company, has announced that it has raised $18 million in Series A funding led by Elephant and Mosaic Ventures with participation from Paua Ventures. The investment will support Keelvar’s expansion plans for Europe and the US, amid the rapidly-growing need for supply chain automation solutions, which has been further accelerated by the recent COVID-19 pandemic.
Velo3D Raises $28 Million in Series D Funding Round, Paving the Way for Product Expansion
Digital manufacturing innovator Velo3D announced today that it has raised $28 million in a Series D funding round. New investors Piva and TNSC joined the round, along with existing investors Bessemer Venture Partners, Playground, and Khosla Ventures. This brings Velo3D’s total funding to $138 million. Velo3D plans to use the new capital to expand its product portfolio to include more machine options, compatible alloys, and enhanced software and hardware capabilities. The company anticipates that the injection of fresh capital will help them reach sustainable profitability by mid-2022.
Litmus Secures $7 Million Series A Financing From Mitsubishi Corporation
Litmus Automation, an Industrial Edge Computing platform provider, today announced it has completed a $7 million Series A round of financing led by Mitsubishi Corporation. The investment brings Litmus Automation’s total funding since launching its secure Industrial Edge Computing platform to $12.6 million and will help the company quickly ramp up sales and marketing efforts to meet the demand for companies ready to move to Industry 4.0.
Carbon Raises Over $260M in Growth Funding Round, Paving the Way for Global Expansion of its Digital Manufacturing Platform
Carbon, the world’s leading digital manufacturing platform, today announced it has raised over $260 million in growth funding co-led by Madrone Capital Partners and Baillie Gifford. New investors Temasek and Arkema joined the round with participation from existing investors including Sequoia Capital, Johnson & Johnson Innovation – JJDC, Inc. (JJDC), Fidelity Management & Research Company, adidas Ventures, and JSR Corporation. This brings Carbon’s total fundraising to more than $680 million.
Carbon plans to use this new capital to expand R&D efforts, establishing its first Advanced Development Facility (ADF), and to fuel international growth and expansion in Europe and Asia. The ADF will enable Carbon’s engineering teams to improve Carbon’s platform and workflows in scaled-up manufacturing environments to better support its customers and partners. These strategic areas of investment will allow Carbon to continue delivering on the promise of 3D printing by enabling its customers in industries including healthcare, automotive, and consumer goods to accelerate product innovation and create breakthrough products that are digitally manufactured at scale.
Tempo Automation raises $45 million to rapidly prototype printed circuit boards
Tempo’s connected factory enables customers to upload their gadget designs to machines that can be used to build up to 15 different products a day. It offers conveniences like automatic quoting and native CAD files, plus real-time feature extraction and bill of materials validation to prevent production and sourcing issues. Additionally, Tempo’s platform autonomously scans design files for manual entry errors before sending them to machines, and it integrates with component and fabrication partners to cut down on turnaround time.
Augury Secures $25M Series C to Grow Impact on Machine Health, Completes Acquisition of Alluvium
“As the market continues to evolve rapidly on its journey to digital transformation, more enterprises seek to uncover blind spots in their operations with AI-based machine health solutions,” said Saar Yoskovitz, Co-Founder and CEO, Augury. “Over the course of the last year, we have made substantial gains in the market and look forward to deepening our partnerships in the year ahead. With this funding, we will continue to innovate and support our partners on a global scale.”
News of the financing round comes in tandem with the company’s completed acquisition of Alluvium – a startup whose computing platform provides simple, real-time machine insights to support safe, stable, and efficient industrial operations. Through Alluvium, Augury becomes the first industrial analytics company to provide both mechanical and operational insights on a unified platform to provide a holistic view of an operation. Not only does this acquisition enhance Augury’s analytics capabilities, but also incorporates Alluvium’s team to Augury to further drive innovation.
RightHand Robotics raises $23 million from Menlo Ventures, Google
With its reinforced bank account, Somerville, Mass.-based RightHand plans to expand its business and technical teams and broaden its suite of product applications, the firm said. “The funds will be used to support our growth and in hiring people as fast as we effectively can,” Martinelli said. “We’re getting follow-on orders and we need to support those orders and extend the product line, both for projects in the U.S. and in Europe and Japan.”
MachineMetrics Announces $11.3 Million Series A Funding Round
MachineMetrics, which equips factories with the digital tools needed to increase productivity and win more business, announced Tuesday it has raised $11.3 million in Series A financing. MachineMetrics is a pioneer in Industrial IoT (Internet of Things) technology. Its system is designed so that customers can install it themselves without the need for expensive and time-consuming customization.
Tola Capital led the round with participation from existing investors Hyperplane Venture Capital, Long River Ventures, Mass Ventures, Hub Angels and Firebolt Ventures. With the new funds, the company will expand its data science and product development teams while accelerating global sales.
Oden Raises $10M Series A to Fuel the Digital Transformation in Manufacturing
Oden Technologies, an Industrial IoT company that provides manufacturing data analytics, today announces that it has closed a $10m (£7.6m) Series A round led by Atomico, with participation from existing investors including EQT Ventures and Inbox Capital, and seed investors. Atomico CEO, and co-founder of Skype, Niklas Zennström will join the company’s board.
Manufacturing – a $12tn sector globally, accounting for 16.6% of global GDP – is on the brink of a new machine age in which the industrial Internet of Things (IIoT) and cloud analytics are set to transform existing production processes, slash waste, drive efficiencies and increase output. Today, manufacturing industry is plagued with inefficiencies as high as 30 – 60 percent. The adoption of data analytics to drive efficiencies combats the shortage of in-house data engineering talent and lengthy project roll-outs. While industrial automation incumbents, such as Rockwell Automation, can take 12 – 18 months to roll out its analytics tools, Oden’s cloud-based data analytics platform can be live 10 times faster and immediately deliver actionable insights.
Falkonry Secures Series A Funding to Optimize Industrial Throughput, Quality and Yield With Operational Machine Learning
Falkonry, Inc. the leading provider of operational machine learning for Global 2000 industrial companies, today announced that it has raised $4.6 million in a Series A funding round. This round brings the total funding raised by Falkonry to $10.9 million. The Series A round is led by Presidio Ventures, the early stage venture capital arm of Sumitomo Corporation. Fortive Corporation, a diversified industrial growth company, has also joined the round as a strategic investor. The early seed stage investors will enhance their existing investment positions in Falkonry, and include Basis Set Ventures, Polaris Partners, Start Smart Labs and Zetta Venture Partners.
e-peas raises €3.5m for energy harvesting power management
E-Peas first device, the AEM10940 energy harvesting IC, is already in the market, and the company has been working closely with solar cell developer Lightricity. E-Peas said it would use the latest funds to expand the engineering workforce and global business development. The money would also allow the company to explore product propositions and partnerships in application areas including industrial monitoring, home automation, smart agriculture, assets tracking, healthcare, smart metering and wearables, it said.
Augury Secures $17 Million Series B Funding Round to Power the Future of IIoT
“We are building a long-lasting company with the goal of diagnosing everything that has moving parts, effectively creating the mechanical nervous system of the IIoT,” said Saar Yoskovitz, CEO of Augury. “Equipment manufacturers and other market leaders in the industrial sector are increasingly turning to PdM as a critical component for their IIoT strategy. This funding will enable Augury to become a driving force towards the connected era of tomorrow.”
Hardware Startup Augury Nails $7 Million Series A Round
The company, with offices in New York and Haifa, Israel, makes a small device that can be used by maintenance personnel. A technician places the device on a machine, such as a chiller or pump, connecting the two via a magnet. The device, which contains ultrasonic sensors, records the vibrations and other sounds the equipment makes. It then sends the information to Augury’s servers that analyze it and spit back a diagnosis, such as that the machine needs more oil or a bearing replacement, to a smartphone app.
Augury will have to persuade customers that it is worth investing in its service that helps identify problems early. It is unclear how willing they would be. The poor state of infrastructure overall in the U.S. speaks to the low levels of willingness, in general, by society in investing in preventive maintenance.
Here we go
After two years of bootstrapping, we’ve decided it’s time to ramp up our team and start running. When we first started working on Augury, we wanted to prove the technology works and to validate that there is a real business opportunity for Augury before bringing in outside investors. This decision gave us complete freedom to navigate the Customer Development waters, set up experiments, fail fast and change directions. Towards the end of last year, we felt like we’d achieved problem/solution fit and proven our technology – so we hit the road.