Realtime Robotics, a Boston-based start-up, announced this Thursday, June 3, 2021 a funding round of $ 31.4 million. This funding actually complements its $ 11.7 million Series A fundraiser announced at the end of 2019, as TechCrunch reports. Among the investors in this latest round of funding are HAHN Automation, SAIC Capital Management, Soundproof Ventures, Heroic Ventures, SPARX Asset Management, Omron Ventures, Toyota AI Ventures, Scrum Ventures and Duke Angels.
The start-up, founded in 2016, is developing a solution to deploy industrial robots or redeploy them with a minimum of programming. Realtime Robotics explains that it has developed a processor capable of creating collision-free motion planes in a matter of milliseconds. This solution allows industrial robots to adapt their movements and avoid collisions.
Realtime Robotics thus allows one or more robots to operate autonomously at full speed and “in unstructured and unframed environments,” says the company. Its solution must also make it possible to avoid possible collisions with humans since robotic systems adapt their movement according to the environment.
Realtime Robotics plans to use these new funds to accelerate the deployment of its products and invest in improving its solutions for manufacturers. The company also wants to strengthen its presence in the warehouse automation sector as well as with car manufacturers.
As interest in robotics increased during the global pandemic, the industrial automation market was valued at $ 164 billion in 2020. This figure is expected to double in the next six years, as VentureBeat reports. The start-up hopes to illustrate itself as a market leader by deploying its systems on a global scale.