Brain Corp raises funds to meet growing demand for AMRs

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Brain Corp, a US-based technology company developing intelligent, autonomous navigation systems, has raised US$36m (£28.5m) in Series D funding to help meet the growing demand for AMRs in industries now on the front lines of the Covid-19 health crisis.

The round was led by returning investor SoftBank Vision Fund, and includes new investors ClearBridge Investments and Satwik Ventures, and an additional investment from Qualcomm Ventures.

“We have always envisioned a world where robots make the lives of people safer, easier, and more productive,” said Brain Corp CEO Dr Eugene Izhikevich.

“Autonomous robots are playing a vital role in supporting essential businesses and their workers during this health crisis.

“This investment will help us continue our pace of innovation and fuel our growth as we execute on the opportunity in front of us.”

Brain Corp has deployed or enabled more than 10,000 robots, one of the largest indoor fleets of its kind operating in public spaces

OEM partners such as Tennant Company, Nilfisk, Alfred Kärcher, Minuteman International, Dane Technologies, UniCarriers Americas and others, license Brain Corp’s robotic AI software, BrainOS, to create AMRs that can operate safely in dynamic indoor public spaces.

The new funds will be used to further expand Brain Corp’s growth into new robotic applications beyond floor care, including inventory delivery, shelf analytics, and other applications designed to improve employee productivity, reduce costs, and enhance customer experiences.

The capital will also be used to support the manufacturing and sales efforts of OEM partners in new markets, such as those in Europe and Asia-Pacific.

According to Brain Corp, US retailers significantly ramped up their use of robotic floor scrubbers as the Covid-19 outbreak grew this year.

Autonomous usage of BrainOS-powered machines in retail locations in the USA reportedly spiked 13.6% in March 2020, compared to the same month last year, and 13% during Q1 of this year, according to internal network data.

In addition, BrainOS-enabled robots are said to be on track to deliver more than a quarter million hours of work over the next 30 days, giving essential workers time back to focus on other important tasks.

Working with OEM partners, Brain Corp has deployed or enabled more than 10,000 robots, one of the largest indoor fleets of its kind operating in public spaces.

Customers include several Fortune 500 brands including Walmart and Kroger, as well as Giant Eagle, C&W Services, Simon Property Group, and dozens of grocers, retailers, airports, educational institutions, and others.

BofA Securities acted as placement agent for the company.

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