20 January 2020:
Soft Robotics today announced that it has raised $23 million in an oversubscribed Series B funding round. The funding round was co-led by Calibrate Ventures and Material Impact.
Honeywell, Hyperplane, Scale, Tekfen Ventures, and Yamaha also participated in the funding round.
With this round Soft Robotics also adds FANUC Corp, as a new investor.
Carl Vause, CEO of Soft Robotics, said, “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. 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.”
Remy Glaisner, Research Director WW Robotics at IDC, said, “Creating or accelerating a direct-to-customer channel is a strong cross-sector trend that has moved beyond markets such as food packaging and consumer goods manufacturing and more. At the order management level, it also means establishing highly dynamic ‘reverse supply chains.’ However, the general labor scarcity for use-cases related to order management is a critical roadblock. In that context, the role of nimble gripper solutions adaptable to both the inbound and outbound workflows become of strategic importance.”
Remy Glaisner, added, “The challenges of customer product – consumer but not only – returns are front and center throughout the year, and demand high variability for high value items such as in the apparel industry.”
According to Jeff Burnstein of the Association for Advancing Automation, “If we don’t automate ourselves out of this problem, the implications for the economy will be profound.”
Kevin Dunlap, Co-Founder of Calibrate Ventures, said, “We are thrilled to continue to support Soft Robotics in its quest to transform workforce automation and to be playing a part in its future. Through its precise, reliable and easy-to-use technology, Soft Robotics is at the vanguard of the advanced automation space and is well positioned to become the standard for gripper solutions globally.”
(Source – Soft Robotics)