The Robot Report

  • Home
  • News
  • Technologies
    • Batteries / Power Supplies
    • Cameras / Imaging / Vision
    • Controllers
    • End Effectors
    • Microprocessors / SoCs
    • Motion Control
    • Sensors
    • Soft Robotics
    • Software / Simulation
  • Development
    • Artificial Intelligence
    • Human Robot Interaction / Haptics
    • Mobility / Navigation
    • Research
  • Robots
    • AGVs
    • AMRs
    • Consumer
    • Collaborative Robots
    • Drones
    • Exoskeletons
    • Industrial
    • Self-Driving Vehicles
    • Unmanned Maritime Systems
  • Markets
    • Agriculture
    • Healthcare
    • Logistics
    • Manufacturing
    • Mining
    • Security
  • Financial
    • Investments
    • Mergers & Acquisitions
    • Earnings
  • Resources
    • Careers
    • COVID-19
    • Digital Issues
    • Publications
      • Collaborative Robotics Trends
      • Robotics Business Review
    • RBR50 Winners 2022
    • Search Robotics Database
    • Videos
    • Webinars / Digital Events
  • Events
    • RoboBusiness
    • Robotics Summit & Expo
    • Healthcare Robotics Engineering Forum
    • DeviceTalks
    • R&D 100
    • Robotics Weeks
  • Podcast
    • Episodes
    • Leave a voicemail

Robotics investments recap: August 2020

By Eugene Demaitre | September 9, 2020

Pudu Robotics raises Series B+ financing for indoor delivery robots august 2020

Pudu Robotics raised funding in August 2020. Source: Pudu

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.

A3 markets August 2020

Source: A3

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

CompanyAmt. (M$)TypeInvestor, partnerDateTechnology
Aero EnterpriseSeries ABuss GroupAug. 20drone inspection
AIDriving14/41Series CSBI GroupAug. 13driver assistance
AngstrongSeries AAug. 15sensors
Attabotics Inc.50Series COntario Teacher's Pension Plan BoardAug. 18automated storage and retrieval
Blue Ocean Robotics ApS19.25investmentAug. 1development
Changsha Intelligent Driving Institute14.5Series ASanze Venture CapitalAug. 20autonomous vehicles
CimcorpinvestmentAlimerkaAug. 25industrial automation
Curve Intelligent EquipmentSeries AQianhai Ark Asset ManagementAug. 21spraying, painting robots
Drone Defence0.652seedScientel SolutionsAug. 18drone defense
DroneShieldpost-IPOAug. 6drone defense
Easy Aerial6.15Series AAug. 25aerial drones
Fox Robotics9Series AMenlo VenturesAug. 25self-driving forklifts
HachiBotpre-ANorthern Light Venture CapitalAug. 21quadruped social robot
HoloMaticSeries ANavInfoAug. 27autonomous vehicles
Hoverfly10.7Series BAug. 17tethered drones
Independent RoboticsseedInnovobotAug. 5underwater robot
Ispace Inc.28Series BIF SPV 1st Investment PartnershipAug. 20lunar lander
LightWare LiDAR1.5seedSanari CapitalAug. 18sensors
Luxelare0.338seedAug. 13drones and software
Matrixtime Robotics15.8Series AHunan High-tech Venture CapitalAug. 18AI, machine vision
MilebotSeries ALenovo Venture CapitalAug. 26exoskeletons
NextStep Robotics0.5investmentMaryland Momentum Fund, Abell FoundationAug. 4assistive device
OpenTrons Labworks Inc.20.6Series AAug. 25laboratory automation
Orca Technologies1.4Series ATuring AI InstituteAug. 5marine robots
Procept BioRobotics77Series CAug. 14robotic surgery
Pudu Technology Inc.14.5Series BSequoia Capital ChinaAug. 20moble robots
Raptor Maps5Series CBlue Bear Capital, Data Point Capital, Buoyant VenturesAug. 26drone data
Reliable Robotics Corp.33.5investmentLightspeed Ventures, Eclipse PartnrsAug. 27autonomous aircraft
ROEQinvestmentVakstPartner KapitalAug. 11mobile robot accessories
Rokae14.4Series CXiang He CapitalAug. 19robotic arms
Root AI7.2seedPJCAug. 13harvesting robot
Shanghai SK Automation Technology105IPOSTAR MarketAug. 11industrial automation
Shenzhen ExcelLand Technology Co.investmentHuazhu Group, BTG Homeinns Hotels GroupAug. 18hospitality robots
StreetLight Data Inc.15Series DMacquarie Capital, Actvate CapitalAug. 6mobile data analytics
Syntiant Corp.35Series CM12, Applied Ventures LLCAug. 4AI edge processing
Tier IV92.3Series BSompo HoldingsAug. 27autonomous vehicles
Tinamu Labs1.21seedAlpana VenturesAug. 25drone controller
Vicarious Surgical13.2investmentE15 CapitalAug. 7surgical robots
WAKU Robotics1.18investmentPlug and Play, TGFSAug. 12mobile robots
WootzanodebtHSBCAug. 20sensors
Xiaopeng Motors Technology Co.1500IPOAug. 21autonomous vehicles
XTEK Ltd.12post-IPOAug. 10drones
XYZ Robotics Inc.20Series A+Source Code CapitalAug. 24piece 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

CompanyAmt. (M$)Acquirer, partnerDateTechnology
Aeolus Robotics Corp.10GigaMedia Ltd.Aug. 31AI-enabled service robots
Ascent Vision Technologies LLCCACI International Inc.Aug. 12gimbal systems
FinetuneCloboticsAug. 18drone turbine monitoring
JetbrainSolarisAug. 4mobile robots
Luminar Technologies Inc.170Gores Metropoulos Inc.Aug. 24lidar hardware, software
Solution Net SystemsArchitect EquityAug. 5industrial automation
Voxtel Inc.Allegro MicroSystemsAug. 31lidar 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.

SK Automation

Source: SK Automation

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.

Vicarious Surgical granted FDA Breakthrough Device Designation, names Scott Huennekens to board

Source: Vicarious Surgical

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.

Syntiant August 2020

The Syntiant NDP100 is 1.8 x 1.4 mm and consumes only 140uW when processing. Source: Syntiant

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.



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.

About The Author

Eugene Demaitre

Eugene Demaitre was senior editor of The Robot Report from 2019-2020. Prior to working at WTWH Media, he was an editor at BNA (now part of Bloomberg), Computerworld, TechTarget, and Robotics Business Review. Demaitre has participated in robotics webcasts and conferences worldwide. He has a master's from the George Washington University and lives in the Boston area.

Tell Us What You Think! Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Related Articles Read More >

rizon 10
Flexiv brings in nearly $100M investment
jaiabot
Jaia Robotics brings in over $1M in seed funding
impossible mining auv
Impossible Mining raises $10.1M for underwater mining robot
osaro robot picks items for customer order
OSARO automates Zenni fulfillment center

2021 Robotics Handbook

The Robot Report Listing Database

Latest Robotics News

Robot Report Podcast

Brian Gerkey from Open Robotics discusses the development of ROS
See More >

Sponsored Content

  • Magnetic encoders support the stabilization control of a self-balancing two-wheeled robotic vehicle
  • How to best choose your AGV’s Wheel Drive provider
  • Meet Trey, the autonomous trailer (un)loading forklift
  • Kinova Robotics launches Link 6, the first Canadian industrial collaborative robot
  • Torque sensors help make human/robot collaborations safer for workers

RBR50 Innovation Awards

Leave us a voicemail

The Robot Report
  • Mobile Robot Guide
  • Collaborative Robotics Trends
  • Field Robotics Forum
  • Healthcare Robotics Engineering Forum
  • RoboBusiness Event
  • Robotics Business Review
  • Robotics Summit & Expo
  • About The Robot Report
  • Subscribe
  • Advertising
  • Contact Us

Copyright © 2022 WTWH Media LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media
Privacy Policy | Advertising | About Us

Search The Robot Report

  • Home
  • News
  • Technologies
    • Batteries / Power Supplies
    • Cameras / Imaging / Vision
    • Controllers
    • End Effectors
    • Microprocessors / SoCs
    • Motion Control
    • Sensors
    • Soft Robotics
    • Software / Simulation
  • Development
    • Artificial Intelligence
    • Human Robot Interaction / Haptics
    • Mobility / Navigation
    • Research
  • Robots
    • AGVs
    • AMRs
    • Consumer
    • Collaborative Robots
    • Drones
    • Exoskeletons
    • Industrial
    • Self-Driving Vehicles
    • Unmanned Maritime Systems
  • Markets
    • Agriculture
    • Healthcare
    • Logistics
    • Manufacturing
    • Mining
    • Security
  • Financial
    • Investments
    • Mergers & Acquisitions
    • Earnings
  • Resources
    • Careers
    • COVID-19
    • Digital Issues
    • Publications
      • Collaborative Robotics Trends
      • Robotics Business Review
    • RBR50 Winners 2022
    • Search Robotics Database
    • Videos
    • Webinars / Digital Events
  • Events
    • RoboBusiness
    • Robotics Summit & Expo
    • Healthcare Robotics Engineering Forum
    • DeviceTalks
    • R&D 100
    • Robotics Weeks
  • Podcast
    • Episodes
    • Leave a voicemail