Soft Robotics Secures $10M Series B Extension
BEDFORD, MA, Award-winning food robotics company Soft Robotics has raised a $10 million Series B extension, to further expand commercial operations to meet COVID-19 pandemic-fueled demand.
The capital will also go towards the company's launch of its SoftAITM powered robotic solutions. SoftAI layers 3D vision and artificial intelligence technologies on top of Soft Robotics' patented and proven, IP69K-rated, soft grasping to give industrial robots the hand-eye coordination of human beings. This unprecedented combination of robotic "hands," "eyes" and "brains" enables, for the first time ever, the automation of bulk picking processes (e.g., bin picking) in the food supply chain. The round was co-led by Material Impact, Scale Venture Partners, and Calibrate Ventures and brings Tyson Ventures, the venture capital arm of Tyson Foods (NYSE:TSN) into the syndicate. ABB Technology Ventures and Tekfen Ventures also participated to complete the round.
Soft Robotics is an industry-leading and award-winning technology company that designs and builds automated picking solutions using mGrip, a proprietary, modular soft robotic gripping system, 3D machine perception, and SoftAITM artificial intelligence. The company's transformational robotic solutions enable machine builders to solve the hardest piece picking problems across the food supply chain in areas like agriculture, food processing, and logistics. Today Soft Robotics has hundreds of system installations, running billions of successful picks, in 24/7 "live" production for some of the largest global producers in these industries.
>> Click here for in-depth research on 9,000 startups and 5,000 VC investors
(c)2011-2020 by Massinvestor, Inc. For contact info, please check out our about