Industrial robotics software firm Veo Robotics has raised $12 million in a Series A round led by GV, formerly Google Ventures, according to the Boston Business Journal.
GV was joined in the funding round by Lux Capital, according to the Boston Business Journal. As part of the round, Lux Capital’s Bilal Zuberi and GV’s Andy Wheeler will join Veo’s board of directors.
Veo Robotics founders have a solid history in robotics, according to the report. CEO Patrick Sobalvarro served as prez of Rethink robotics, engineering VP Clara Vu as a co-founder of Harvest Robotics and senior software engineer at iRobot and hardware senior director Scott Denenberg held a position as an exec at Jentek Sensors.
Veo Robotics is developing software and sensors intended to make industrial robots safer to work around for their human peers, according to the report, allowing operators of precise auto manufacturing
“Our approach is one that is completely passive for humans. If somebody runs into the work cell… that’s ok. We’ll stop the robot,” CEO Sobalvarro told the Boston Bustiness Journal.
Veo Robotics has previously raised $1 million in a seed round from the Siemens venture wing, and plans to expand from 10 employees to 25 over the next 6 months. The company hopes to have full product to the market by 2019, pending regulatory clearances, according to the report.