As the novel coronavirus pandemic has continued, businesses around the world have found ways to get back to work despite summer doldrums. Because of the nature of research and development, as well as the potential benefits of social distancing and augmenting worker productivity, robotics transactions continued apace in August 2020. Autonomous vehicle technologies, industrial automation for manufacturing, and healthcare systems again led funding last month.

In August 2020, The Robot Report tracked 50 transactions worth a total of $2.3 billion (U.S.). In comparison, there were 47 deals worth about $1.9 billion in July 2020, and 43 transactions worth $2 billion in August 2019. As with last month, there was not a significant change year over year, despite the COVID-19 pandemic.

Despite a 33% decline in global venture funding last month, according to Crunchbase, supply chain automation, aerial drones, and agricultural and service robot companies also received funding in August 2020. Chinese industrial investment increased to $7.63 billion in the second quarter, said GlobalData.

Investors remain bullish, even if global markets have contracted 18% for robotics, 8% for machine vision, and 6% for motion control in the past year, reported the Association for Advancing Automation (A3) and ITR Economics. A3 expressed optimism for the latter half of 2020.

Of this past month’s reported transactions, there were 43 investments, compared with 42 last month and a few more than 38 a year ago. In Q2, technology deals totaled $17.6 billion, according to GlobalDeals.

Related content: June 2020 transactions and top 10 robotics deals from the first half of the year; The Robot Report Podcast: First-half 2020 highlights

The table below lists robotics fundings from the past month in millions of U.S. dollars where figures were available:

Robotics investments, August 2020

Company	Amt. (M$)	Type	Investor, partner	Date	Technology
Aero Enterprise		Series A	Buss Group	Aug. 20	drone inspection
AIDriving	14/41	Series C	SBI Group	Aug. 13	driver assistance
Angstrong		Series A		Aug. 15	sensors
Attabotics Inc.	50	Series C	Ontario Teacher's Pension Plan Board	Aug. 18	automated storage and retrieval
Blue Ocean Robotics ApS	19.25	investment		Aug. 1	development
Changsha Intelligent Driving Institute	14.5	Series A	Sanze Venture Capital	Aug. 20	autonomous vehicles
Cimcorp		investment	Alimerka	Aug. 25	industrial automation
Curve Intelligent Equipment		Series A	Qianhai Ark Asset Management	Aug. 21	spraying, painting robots
Drone Defence	0.652	seed	Scientel Solutions	Aug. 18	drone defense
DroneShield		post-IPO		Aug. 6	drone defense
Easy Aerial	6.15	Series A		Aug. 25	aerial drones
Fox Robotics	9	Series A	Menlo Ventures	Aug. 25	self-driving forklifts
HachiBot		pre-A	Northern Light Venture Capital	Aug. 21	quadruped social robot
HoloMatic		Series A	NavInfo	Aug. 27	autonomous vehicles
Hoverfly	10.7	Series B		Aug. 17	tethered drones
Independent Robotics		seed	Innovobot	Aug. 5	underwater robot
Ispace Inc.	28	Series B	IF SPV 1st Investment Partnership	Aug. 20	lunar lander
LightWare LiDAR	1.5	seed	Sanari Capital	Aug. 18	sensors
Luxelare	0.338	seed		Aug. 13	drones and software
Matrixtime Robotics	15.8	Series A	Hunan High-tech Venture Capital	Aug. 18	AI, machine vision
Milebot		Series A	Lenovo Venture Capital	Aug. 26	exoskeletons
NextStep Robotics	0.5	investment	Maryland Momentum Fund, Abell Foundation	Aug. 4	assistive device
OpenTrons Labworks Inc.	20.6	Series A		Aug. 25	laboratory automation
Orca Technologies	1.4	Series A	Turing AI Institute	Aug. 5	marine robots
Procept BioRobotics	77	Series C		Aug. 14	robotic surgery
Pudu Technology Inc.	14.5	Series B	Sequoia Capital China	Aug. 20	moble robots
Raptor Maps	5	Series C	Blue Bear Capital, Data Point Capital, Buoyant Ventures	Aug. 26	drone data
Reliable Robotics Corp.	33.5	investment	Lightspeed Ventures, Eclipse Partnrs	Aug. 27	autonomous aircraft
ROEQ		investment	VakstPartner Kapital	Aug. 11	mobile robot accessories
Rokae	14.4	Series C	Xiang He Capital	Aug. 19	robotic arms
Root AI	7.2	seed	PJC	Aug. 13	harvesting robot
Shanghai SK Automation Technology	105	IPO	STAR Market	Aug. 11	industrial automation
Shenzhen ExcelLand Technology Co.		investment	Huazhu Group, BTG Homeinns Hotels Group	Aug. 18	hospitality robots
StreetLight Data Inc.	15	Series D	Macquarie Capital, Actvate Capital	Aug. 6	mobile data analytics
Syntiant Corp.	35	Series C	M12, Applied Ventures LLC	Aug. 4	AI edge processing
Tier IV	92.3	Series B	Sompo Holdings	Aug. 27	autonomous vehicles
Tinamu Labs	1.21	seed	Alpana Ventures	Aug. 25	drone controller
Vicarious Surgical	13.2	investment	E15 Capital	Aug. 7	surgical robots
WAKU Robotics	1.18	investment	Plug and Play, TGFS	Aug. 12	mobile robots
Wootzano		debt	HSBC	Aug. 20	sensors
Xiaopeng Motors Technology Co.	1500	IPO		Aug. 21	autonomous vehicles
XTEK Ltd.	12	post-IPO		Aug. 10	drones
XYZ Robotics Inc.	20	Series A+	Source Code Capital	Aug. 24	piece picking

There were seven robotics mergers and acquisitions worth about $180 million in August 2020, compared with six acquisitions (with no amounts disclosed) in July and six worth $1.3 billion in 2019.

Robotics acquisitions, August 2020

Company	Amt. (M$)	Acquirer, partner	Date	Technology
Aeolus Robotics Corp.	10	GigaMedia Ltd.	Aug. 31	AI-enabled service robots
Ascent Vision Technologies LLC		CACI International Inc.	Aug. 12	gimbal systems
Finetune		Clobotics	Aug. 18	drone turbine monitoring
Jetbrain		Solaris	Aug. 4	mobile robots
Luminar Technologies Inc.	170	Gores Metropoulos Inc.	Aug. 24	lidar hardware, software
Solution Net Systems		Architect Equity	Aug. 5	industrial automation
Voxtel Inc.		Allegro MicroSystems	Aug. 31	lidar hardware, software

August 2020 shines for autonomous vehicles

Autonomous vehicle companies raised more than $1.6 billion in August 2020. The largest single transaction of the month was the $1.5 billion initial public offering (IPO) for Xiaopeng Motors Technology Co. Guangzhou, China-based Xpeng raised $500 million in Series C funding in July and plans to use its funding to expand research and development.

Some transportation transactions in August 2020 involved partnerships. Luminar Technologies Inc. in Palo Alto, Calif., conducted a reverse merger with Gores Metropoulos Inc. and raised $170 million for its “full stack” of software for autonomous trucks and passenger vehicles. Insurer Sompo Holdings acquired an 18% stake worth $92 million in Nagoya, Japan-based self-driving software developer Tier IV.

Bridging the gap between drones and autonomous vehicles, Mountain View, Calif.-based Reliable Robotics Corp. emerged from “stealth mode” and raised $33.5 million for fully autonomous aircraft.

Back on the ground, San Francisco-based StreetLight Data Inc. obtained $15 million in Series D funding for smart-city data analytics meant to work with autonomous vehicles. Changsha Intelligent Driving Institute in China received Series D funding of $14.5 million for advanced driver assistance systems (ADAS) for trucks.

Shenzhen, China-based AIDriving’s Series C round raised $14.41 million as it develops algorithms for ADAS and artificial intelligence of things (AIoT) systems.

Beijing-based HoloMatic got an unspecified amount in Series A+ funding led by NavInfo as it works on autonomous systems for driving and parking. Also in August 2020, Allegro MicroSystems acquired Voxtel Inc., a Beaverton, Ore.-based company that makes lidar software and hardware for ADAS.

Manufacturing, supply chain robots raise more money

In August 2020, robotics suppliers to manufacturers raised more than $119 million, and supply chain automation companies raised $80 million. Shanghai SK Automation Technology, which serves automakers, raised $105 million in its IPO on the STAR Market.

Beijing-based robotic arm maker Rokae raised $14.4 million in Series C funding, and Curve Intelligent Equipment, a spraying and painting robot provider also in Beijing, raised an unspecified Series A.

On the logistics and warehousing side, Calgary, Alberta-based Attabotics Inc. raised $50 million in Series C funding for its automated storage and retrieval system (ASRS). Allston, Mass.-based XYZ Robotics Inc., which has developed vision systems and end effectors for piece picking, received $20 million in Series A+ funding.

Fox Robotics, a maker of self-driving forklifts in Austin, Texas, had a Series A round of $9 million. Meanwhile, WAKU Robotics, a mobile robot maker in Dresden, Germany, raised $1.18 million.

Spanish grocery retailer Alimerka invested an unspecified amount in automation and support from Ulvilaa, Finland-based Cimcorp. Funen, Denmark-based ROEQ, which provides accessories for robots such as those from Mobile Industrial Robots ApS, raised an unspecified amount in August 2020.

Architect Equity acquired a majority share of Solution Net Systems, a logistics automation firm in Quakertown, Pa.

Healthcare systems find funding

A variety of healthcare robotics companies raised more than $111 million in August 2020, led by the $77 million Series C round for Procept BioRobotics in Redwood Shores, Calif. It has developed “aquablation” therapy for enlarged prostates.

Brooklyn, N.Y.-based laboratory automation provider OpenTrons Labworks Inc. raised $20.6 million in Series A funding last month. Boston-based Vicarious Surgical received $13.2 million as it continues working to commercialize virtual reality and robotics systems.

Baltimore-based NextStep Robotics raised $500,000 for its wearable device, which is designed to assist patients while walking. Also in wearables, Shenzhen-based Milebot raised an unspecified Series A round as it develops exoskeletons.

Also in August 2020, Solaris Disinfection Inc. acquired Jetbrain Robotics for an unspecified amount. Gurgaon, India-based Jetbrain makes mobile robots for delivering supplies in hospitals that will join Solaris’ disinfection robot portfolio. Capsa Healthcare acquired Dutch pharmacy automation provider RoboPharma. No purchase price was specified.

Components and software enable robots and AI

To be commercially successful, robotic and artificial intelligence systems need reliable sensors, processors, and motors. Component makers raised $52.3 million in August 2020. Irvine, Calif.-based Syntiant Corp. raised $35 million in Series C funding for AI edge processing.

Shanghai-based Matrixtiime Robotics raised $15.8 million in Series A funding for machine vision software and industrial AI.

LightWare LiDAR in Gauteng, South Africa, collected seed funding of $1.5 million, and Angstrong in Shenzhen raised an unspecified Series A. Durham, U.K.-based Wootzano, which makes “electronic skin” sensors for robots, obtained debt financing from HSBC.

CACI International Inc. acquired Ascent Vision Technologies LLC, a Belgrade, Mont.-based provider of systems for mounting cameras on drones or robots.

Robots for air, water, and space get summer takeoff

As summer wound down in the Northern Hemisphere, investors supported drones for agriculture, energy and utilities, and security applications. Boston-based Root AI, which is working on the Virgo robotic harvester, raised $7.2 million in seed funding.

Security drones received more than $37 million in August 2020, led by Canberra, Australia-based XTEK Ltd., which raised $12 million. Orlando, Fla.-based Hoverfly raised $10.7 million in Series B funding for its tethered drones, and Easy Aerial in Brooklyn, N.Y., raised Series A funding of $6.15 million for its autonomous drones.

No, you’re not seeing double: Tokyo-based Ispace received $28 million in Series B funding for its robotic lunar lander, while Beijing-based iSpace raised $172 million for commercial rocket launches, which are beyond the scope of this report.

Drone countermeasures also received investment, with Herndon, Va.-based Drone Shield getting $7.5 million in post-IPO funding, and Doncaster, U.K.-based Drone Defence raising $652,000 in seed funding.

In power, Somerville, Mass.-based Raptor Maps, which is building analytics software for the solar industry, secured $5 million in Series C funding. Clobotics acquired Danish turbine monitoring provider Finetune for an unspecified amount.

Also in energy, Montreal-based Independent Robotics raised unnamed seed funding for its robots for underwater exploration, and San Clemente, Calif.-based marine robotics company Orca Technologies got $1.4 million in Series A funding.

Tinamu Labs in Zurich received seed funding of $1.21 million as it develops a drone controller for infrastructure inspection in GPS-denied environments. Aero Enterprise in Linz, Austria, got unspecified Series A funding for its inspection drones.

Luxelare, an agricultural drone and software firm in Los Mochis, Mexico, raised $338,000 in seed funding to qualify for crowdfunding.

Service robots close out August 2020

Finally, service robot companies rounded out summer 2020 transactions. “Venture factory” Blue Ocean Robotics ApS, whose spinoffs include disinfection robot maker UVD Robots, raised $19.25 million. Odense, Denmark-based Blue Ocean also completed its acquisition of the assets of Suitable Technologies, provider of the Beam telepresence robot.

Shenzhen-based Pudu Technology Inc., which makes mobile robots for restaurants and hospitals, raised Series B+ financing of close to $15 million, just a month after raising a similar amount. GigaMedia Ltd. acquired San Francisco-based service robot firm Aeolus Robotics Corp. with a debt conversion.

Beijing-based HachiBot raised unspecified pre-Series A funding for its quadruped social robot, while Shenzhen ExcelLand Technology Co. received unspecified funding for its hospitality robots.

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Editors’ note: What defines robotics investments? The answer to this simple question is central in any attempt to quantify them with some degree of rigor. To make investment analyses consistent, repeatable, and valuable, it is critical to wring out as much subjectivity as possible during the evaluation process. This begins with a definition of terms and a description of assumptions.

Investors and investing
Investment should come from venture capital firms, corporate investment groups, angel investors, and other sources. Friends-and-family investments, government/non-governmental agency grants, and crowd-sourced funding are excluded.

Robotics and intelligent systems companies
Robotics companies must generate or expect to generate revenue from the production of robotics products (that sense, analyze, and act in the physical world), hardware or software subsystems and enabling technologies for robots, or services supporting robotics devices. For this analysis, autonomous vehicles (including technologies that support autonomous driving) and drones are considered robots, while 3D printers, CNC systems, and various types of “hard” automation are not.

Companies that are “robotic” in name only, or use the term “robot” to describe products and services that that do not enable or support devices acting in the physical world, are excluded. For example, this includes “software robots” and robotic process automation. Many firms have multiple locations in different countries. Company locations given in the analysis are based on the publicly listed headquarters in legal documents, press releases, etc.

Verification
Funding information is collected from a number of public and private sources. These include press releases from corporations and investment groups, corporate briefings, industry analysts, and association and industry publications, including PitchBook and Tracxn. In addition, information comes from sessions at conferences and seminars, as well as during private interviews with industry representatives, investors, and others. Unverifiable investments are excluded.