Manufacturing Tech startups close funding events before the good times end. Big data and analytics applications cross cut all industry verticals.
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.
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.
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.
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.
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.
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.”
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.
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.
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.
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.
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.
$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.
RightHand Robotics raises $23 million from Menlo Ventures, Google
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.
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.”
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.
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.
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.”
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.”
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.”
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.
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.
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.
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.”
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.
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.
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.
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.
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.