February fundings for 16 robotics-related startups totaled over $313 million – another solid month for the new year. Acquisitions also continued to be substantial with Ford's acquisition of Argo and Midea Group's purchase of Servotronix. Plus there were two IPOs. Fundings CloudMinds, a Chinese startup developing cloud-intelligence-based services for robotics and other application areas, raised $100…
Ford Motor to invest $1 billion in Pittsburgh startup Argo AI
Argo AI, a Pittsburgh startup, has sold a majority share of their company to Ford Motor Co. which has agreed to invest $1 billion over a five year schedule but will immediately become the majority shareholder. Both companies declined to disclose further details. Argo AI plans to fully support Ford but eventually license its software and sensor suite…
January 2017 fundings, acquisitions, IPOs and failures
January fundings for robotics-related startups totaled over $123 million – a reasonable start for the new year. For acquisitions, three of the six companies acquired reported that $390.5 million traded hands. All in all another strong month for robotics. Fundings Moon Express, a Cape Canaveral, Fla.-based commercial company building robotic space crafts to explore the moon, raised…
DoD announces new Advanced Robotics Manufacturing center in Pittsburgh
The Department of Defense has awarded the 14th Manufacturing USA institute—the Advanced Robotics Manufacturing (ARM) Innovation Hub—to American Robotics Inc. The eighth DoD-led institute, the ARM Institute joins the Manufacturing USA network in its collective effort to help revitalize American manufacturing and incentivize companies to invest in new technology development in the United States. Headquartered […]
$250 million awarded to new Advanced Robotics Manufacturing Innovation Hub
Headquartered in Pittsburgh, PA, the new institute is made up of governments, industry, academia, and non-profit organizations from across the country. Combined they have contributed $173 million that will be fused with $80 million in federal funding. The new ARM institute, part of the Manufacturing USA network, is dedicated to help revitalize American manufacturing. The ARM Institute's mission is to…
Layoffs ahead for ReWalk Robotics
ReWalk Robotics (NSDQ:RWLK) is reportedly planning to cut its operating expenses by 30% in 2017, a move that’s slated to include layoffs for an unspecified number of workers. The Marlborough, Mass.- and Israel-based company said it aims to meet its goal partially via a “reduction in staffing.” ReWalk had 87 employees as of December 2015, according to…
2016 best year ever for funding robotics startup companies
It was a busy and abundant year for seed, crowd, series A,B,C,D and VC funding of robotics-related startups. 128 companies got funded, some multiple times. $1.95 billion, 50% more than 2015 which was also a phenomenal year with over $1.32 billion funded. UPDATED 1/30/17: Added $100 million in China-based RooBo, $50 million for Israeli Roboteam, $9.5 million for Matternet, $2…