Soft Robotics, a robotic automation solution for the future factory, raised $23 million in a Series B funding round.
The round was co-led by Calibrate Ventures and Material Impact and included additional existing investors Honeywell, Hyperplane, Scale, Tekfen Ventures, and Yamaha.
New investor FANUC Corp., an industrial robot manufacturer, also contributed to the funding round. Soft Robotics previously announced a strategic partnership with FANUC to integrate Soft Robotics’ mGrip adaptable gripper system with any FANUC robot through the deployment of a new controller. The combined product was introduced at IREX in Tokyo, Japan, in December 2019.
“This new funding will allow us to power the next phase of our growth strategy and continue to provide solutions to our customers’ greatest challenges,” said Carl Vause, CEO of Soft Robotics.
“Variability is the kryptonite of the robotics industry. By offering a system that is able to grasp and manipulate items that vary in size, shape, and weight, we are able to solve the problem of high variability in both products and processes.”
Soft Robotics, which brought its disruptive technology to market in June 2015, is deploying robotic solutions with industry-leading partners and end-users in the consumer products, advanced manufacturing, and food handling industries.
In addition to delivering automation solutions in food packaging and consumer goods manufacturing, Soft Robotics is also working with e-commerce, logistics, and retail customers to address the high cost of online returns logistics.
Image Credit: Soft Robotics