Tuesday 25th Feb 2020 - Robotics and Innovation

Soft Robotics announces oversubscribed funding round

Funding News

Soft Robotics, a US-based developer of grasping technology, machine vision, and software solutions for F&B, advanced manufacturing and e-commerce industries, has raised US$23m (£17.5m) in an oversubscribed Series B funding round.

The round is co-led by Calibrate Ventures and Material Impact and includes additional existing investors Honeywell, Hyperplane, Scale, Tekfen Ventures, and Yamaha.

Soft Robotics’ mGrip has been designed bring robotic grasping solutions to picking challenges that couldn’t previously be automated

With this round Soft Robotics also adds industrial robot manufacturer Fanuc as a new investor.

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.”

Want to learn more about how the latest robotic and automated systems are transforming F&B packaging, advanced manufacturing and e-commerce/retail fulfilment? Robotics and Automation – the UK’s largest dedicated robotics and automation exhibition – takes place on the 3rd and 4th November 2020 at the Ricoh Arena, Coventry. Register your interest now at www.roboticsandautomation.co.uk