Rapid Robotics CEO Jordan Ruddick (left) with the Rapid Machine Operator. Photo Credit: Rapid Robotics
On April 6 Rapid Robotics (San Francisco, Calif., U.S.) announced $12 million in Series A funding led by New Enterprise Associates (NEA), with existing investors Greycroft, Bee Partners and 468 Capital also participating. The latest investment brings Rapid Robotics’ total funding to $17.5 million, with Rapid’s solutions producing more than 50,000,000 parts over the past year across almost every industry sector including plastics, metals, medical devices, automotive, pharma, semiconductors and electronics/EMS.
According to Rapid Robotics, its entry into the market comes at a pivotal moment for U.S. manufacturing, as the Biden administration rolls out ambitious plans to revitalize the sector, boosting competitiveness in areas including automotive, pharmaceuticals, public health and semiconductors.
Axlehire
Last-mile-delivery startup AxleHire specializes in perishables like meal kits and luxury pet food.
It raised $20 million in a Series B round, bringing its total funding to $37 million.
AxleHire benefited tremendously when UPS and FedEx turned away packages last year, its CEO said.
As companies like UPS and FedEx dealt with the pandemic-induced boom in e-commerce, delivery delays became the norm and a disaster for time-sensitive food shipments.
Any company that could help navigate the myriad supply-chain disruptions stood to win big and the San Francisco delivery startup AxleHire was one of the winners. FedEx and UPS were declining volumes, AxleHire CEO Adam Bryant told Insider. We were the beneficiary.
Rapid raises $12M for its manufacturing robotics
Bay Area-based Rapid Robotics today announced a $12 million Series A. The new round, led by NEA, brings the company’s total funding up to $17.5 million. It joins a recently closed seed round, announced way back in November of last year. Existing investors Greycroft, Bee Partners and 468 Capital also took part in the round.
We noted at that stage that COVID-19 had a sizable impact on robotics investment. At the very least, the pandemic has served to accelerate interest in automation, as many “non-essential” workers have been unable to travel to their jobs. At present, manufacturing jobs often lack the ability to perform remotely.
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Iris Automation
According to a story by DroneLife.com, Iris Automation has announced $13 million in Series B funding.
Iris develops advanced detection systems that bolster Detect-and-Avoid (DAA) capabilities which, in turn, enable safer commercial drone operations.
The basic components of Casia, a camera and a computer, can be configured based on operational requirements with additional cameras to create 360-degree situational awareness.Iris Automation
“We see explosive demand in energy, agriculture, construction, security and logistics for long-range and remotely operated drones, says David Cowan, board member of Iris. Iris’ collision avoidance product, the only on-board, visual aircraft recognition system to receive government approval, provides a critical piece of air safety needed to unlock this enormous market.”