The current global economic uncertainty brought about by the coronavirus pandemic has led many venture capitalists to pull back investments and become more conservative regarding startup funding. Despite this, some robot-centric startups are still receiving the necessary capital to continue their pursuit of ground-breaking technology.
One example is Vicarious, a San Francisco-based AI startup that uses its research to enable robots to navigate better and interact with the physical world. With an investment of $50 million provided by private equity firms, Vicarious is able to explore ways to make robots smarter and able to catch up to the capabilities of humans.
Another example is San Francisco-based Fetch Robotics, which provides robots to automate warehouse operations. The startup has received capital from venture funds, including Intel Capital and O’Reilly AlphaTech Ventures. Fetch Robotics’ robots are capable of autonomously navigating warehouses and helping companies streamline their operations.
Boston-based Rethink Robotics is a startup that develops robots for manufacturing, material handling, and other industrial applications. The firm has received $125 million in venture funding from investors, including GE Ventures and Goldman Sachs. Rethink Robotics’ robots are able to automate repetitive tasks, freeing up human workers to focus on more complex tasks.
Finally, San Francisco-based Anybots is a robotics company working towards creating robots that can interact with people in their natural environment. The firm has raised $26.2 million in venture funding and its robots are designed to provide interactive customer service and other human-robot interactions.
Robotics is a technology that has the potential to change the way humans interact with the physical world drastically. Despite the current economic uncertainty, some investors still have enough confidence in this technology to provide the necessary capital for these startups to continue their work. With the continued investment in robotics, the possibilities for this technology are only limited by our imagination.