Robotics Invest discusses application and funding opportunities for the industry

Robotics Invest 2024 provided an opportunity for investors and innovators to communicate expectations and look ahead.

The post Robotics Invest discusses application and funding opportunities for the industry appeared first on The Robot Report.

BOSTON — While many robotics events are vendor-driven, some share the perspectives of other parts of the growing global ecosystem. Last month, the second annual Robotics Invest event convened, gathering venture capitalists, innovators, and startups.

Coming a month after the Robotics Summit & Expo, which focused on developers of commercial systems for the manufacturing, warehousing, and healthcare industries, among others, Robotics Invest provided the investor point of view. While most of the speakers and attendees acknowledged post-COVID-19 economic challenges, they provided examples and advice for companies looking to scale.

Keynote speakers included Dean Kamen, founder of FIRST Robotics, DEKA, and ARMI, and Marc Raibert, co-founder of Boston Dynamics and The AI Institute.

The event also featured panel discussions about issues ranging from the acquisition landscape and sustainability to a debate on whether humanoid robots are reality or hype. One-on-one meetings and deep-dive roundtables on Day 2 allowed smaller groups of investors and startups to meet.

Fady Saad, co-founder of Cybernetix Ventures, which organized Robotics Invest, replied to the following questions from The Robot Report:

Robotics Invest grows

What was the final number of attendees, and where did they come from? 

Saad: Robotics Invest brought together over 260 of the brightest minds in robotics, representing nine countries and six robotics clusters. 

The countries were the U.S., Canada, Japan, Belgium, India, Germany, Switzerland, the U.K., and Denmark. The clusters included the Pittsburgh Robotics Network, MassRobotics, and Silicon Valley Robotics, as well as New York, Zurich, and Germany.

What was the mix of VCs, corporates, and founders?

Saad: Over 130 founders, 60 investors, and roughly a dozen corporates attended the event. The rest of the attendees were a mix of reporters, analysts, and event underwriters. 

How did this year’s programming evolve from the first Robotics Invest?

Saad: This year, we added a second day that included another keynote speaker, interactive roundtables, and curated 1:1 meetings. 

The biggest piece of feedback from last year was to include more time for attendee networking. So, we added an extended networking reception to Day 1, leveraged the interactivity of the roundtables to serve as more structured networking, and included again the 1:1 curated meetings. The addition of the roundtables allowed attendees to discuss even more specific, deep-dive topics in robotics. 

We’re also really proud that none of the keynotes or panel sessions were repeats from last year. Instead, they all focused on topics pertinent to the 2024 robotics climate.

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Use cases for automation are maturing, note speakers

What were some key takeaways from the event?

Saad: First and foremost, it was invigorating to see the global reach of the robotics community. It was also inspiring to see how passionate the ecosystem is in making an impact on some of the largest challenges facing the world today, such as renewable energy, recycling, and more.

Another critical takeaway is that robotics is an entire investment class in and of itself. We can’t couple robotics with SaaS [software as a service] or roll it into “deep tech.” It’s its own class, with specific considerations around development, go-to-market, and fundraising, and it should be treated as such. 

A takeaway that should inspire the entire community is that every industry level is focusing on robotics innovation, adoption, and use-case applications. From founders and investors to service providers, healthcare giants, and other corporations in logistics, manufacturing, and more, representatives emphasized that robotics is the future. The key consideration here is that robots need to provide value to human operators and perform tasks with incredible reliability. 

And I can’t forget to mention one of the most exciting topics of the event: humanoids. It’s clear that humanoids are another product category. However, the ongoing questions of, “What are the best use-case applications?” and “How long will product-market fit take in terms of capability, cost, safety and quality?” remain to be answered. One thing is for sure, though — the world is watching.

What were some noteworthy moments at Robotics Invest?

Fady: Like the key takeaways, it’s hard to single out my favorite moments. That said, some of the stand-out moments include the unique energy that Dean Kamen brought to his keynote fireside chat, as well as the enthusiasm and discourse throughout the humanoid debate.

I also enjoyed Marc Raibert’s story of building and growing Boston Dynamics, and the attendee enthusiasm, interest and insights that came from the roundtable discussions. 

What was the feedback from the roundtables and one-on-one meetings?

Saad: We are still collecting, compiling and summarizing the takeaways from the roundtables and 1:1 meetings. The feedback we have gotten so far has been that both the roundtables and meetings were extremely valuable.

Attendees also shared that the roundtables were especially good for learning, networking, and relationship building.

The future looks bright for robotics investment

On balance, do you think the panelists were bullish on robotics, and why?

Saad: Yes, we feel that they were bullish, which reflects the attitude of many sectors, such as manufacturing, construction, logistics, healthcare, climate, and agriculture.

The adoption of robotic solutions, or as many panelists called them, “smart machines,” is becoming not only more ubiquitous but also necessary to keep up with demands. This is especially true in industries like climate tech. In fact, at the event, we heard the climate tech panel repeatedly say that we won’t be able to solve the climate crisis without robotics.

Similarly, as the idea of reshoring U.S. manufacturing gains traction, it is evident that to make this a reality within the demand and cost restrictions, we must adopt robotic solutions. 

So, we are back to the question, “What are the best use cases for robotics?” As attendees know, answering this question is a central focus and theme of Robotics Invest.

Do Cybernetix Ventures and the other event organizers have any plans for next year?

Saad: While we are not disclosing details now, I can say that Robotics Invest 2025 will undoubtedly build on this year’s event, with refreshed panels and roundtable topics, high-caliber speakers, and incredible networking opportunities.

As we look to 2025, we can’t wait to bring the robotics community together again to help build the next wave of robotics unicorns and drive the industry forward.

The post Robotics Invest discusses application and funding opportunities for the industry appeared first on The Robot Report.