Standard Bots raises $63M to bring cobot arms to market
Standard Bots this week raised more than $63 million in total funding. Its new Series B round was led by General Catalyst and included participation from the Amazon Industrial Innovation Fund and Samsung Next.
The Glen Cove, N.Y.-based company plans to use the fresh funding to expand its engineering team, accelerate the development of its series of next-generation robots in new sizes, and enhance the proprietary platform that makes these robots intuitive for everyday use.
“Historically, robotics projects required a team of PhDs, multiple years of research, and deep pockets—and even after all that, use cases were often limited. We’re on a mission to make advanced, adaptable robots accessible to all,” Evan Beard, co-founder and CEO of Standard Bots, said. “Standard Bots makes it easy for any company, from small mom-and-pop shops to Fortune 500 companies, to harness the power of robotics.”
Standard Bots designs hardware and software. The company already launched its RO1 collaborative robotic arm and is preparing to bring its new AI-powered robots to market. The company says these robots will unlock use cases and industries that have been mostly untouched by traditional robotics, like complex assembly, food preparation, and dishwashing.
Lachy Groom, Quiet Capital, 468 Capital, Lightscape Partners, and Box Group provided additional venture capital support in the round. As part of the funding agreement, Max Rimpel of General Catalyst will join the company’s board alongside existing board member and lead seed investor Itai Tsiddon.
Inside Standard Bots’ technology
The RO1 cobot arm offers an 18 kg payload with a 1.3m reach, 3m/s linear speed and +/-0.025 mm repeatability.
In addition to its robots, the company is also developing a transformer-based model that leverages AI to enhance robotic capabilities. The company says that observing human demonstrations empowers robots to learn intricate tasks. These can range from loading complex welding fixtures to folding clothing.
“Robotics is having its ChatGPT moment. New advances in AI allow robots to ‘understand’ and react to actions in real-time, which means they can take on more complex jobs,” David Golden, co-founder of Standard Bots, said. “Looking ahead, we’re focused on expanding our product line and pioneering new applications for AI-based robotics in industries previously untouched by this technology.”
“We’re always on the lookout for novel technologies in automation and robotics. With its versatile and accurate robotics solutions, we believe Standard Bots is positioned to help redefine certain aspects of the manufacturing process,” Franziska Bossart, head of the Amazon Industrial Innovation Fund, said. “Standard Bots’ technology offers exciting possibilities for enhancing operational efficiency and reducing costs across various industries, which aligns with our commitment to fostering innovations that can create more dynamic, responsive supply chains.”
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