Yahoo Finance Realtime Robotics raises a $31M Series A
Boston-based Realtime Robotics this morning announced a $31.4 million round. The funding is part of the $11.7 million Series A the company announced all the way back in late 2019. Investors include HAHN Automation, SAIC Capital Management, Soundproof Ventures , Heroic Ventures, SPARX Asset Management, Omron Ventures, Toyota AI Ventures, Scrum Ventures and Duke Angels.
Realtime is one of a number of startups building control on top of industrial robotics. Specifically, the startup looks to help companies deploy systems with limited programming, offering adaptable controls that work for multiple systems at once.
This round, which nearly doubles the company’s existing funding, will be used to accelerate its product development and extend its offering to more markets, globally. It comes as interest in robotics have ramped up amid the global pandemic.
“This investment by some of the world’s leading manufacturers and automation providers stands as a testament to our ability to dramatically improve the value proposition for robotic implementations,” CEO Peter Howard says in a release. “Having already realized early deployment success, a broad spectrum of customers and partners are working closely with us to refine features and user experiences, readying our technology for rollouts in their engineering, factory and warehouse operations.”
The company's offerings serve a wide range of different industrial robotics tasks, including pick and place machines, packaging and palletizing boxes.
