Industrial robotics company Soft Robotics has raised $20 million in what it says was “An oversubscribed funding round”.
Soft Robotics unlocks robotic automation for large, meaningful markets and labor starved industries such as food and beverage, advanced manufacturing and e-commerce.
Leveraging patented material science and AI algorithms, Soft Robotics designs and builds automation solutions and soft robotic gripping systems that can grasp and manipulate items with the same dexterity of the human hand.
“Carl Vause, CEO, Soft Robotics, said:”We’re proud of the team’s work to date to scale up the Soft Robotics’ technology platform and gain significant commercial traction across our customer verticals.
ABB, a leader in robotics and industrial automation, sees the investment in Soft Robotics as part of ABB’s overall strategy to shape the future of industrial digitalization and the automated warehouse.
“In an era of increasingly high mix, low volume production cycles coupled with the need for pain-free automation configurability, we are also extremely excited about the direction Soft Robotics is taking their core technology with SuperPick, allowing ABB arms to do more with less training, greater accuracy and increasing autonomy.”
This funding round comes at a pivotal time in Soft Robotics’ growth.