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Robotics funding reached $2.1 billion in June 2023 as a result of 51 investments (See Table 1 below or download Table 1). This brings the year-to-date investment total for the robotics industry to approximately $6.1 billion.
Table 1: June 2023 Robotics Funding and Investment
|A2Tech||Estimate||Other||Malaysia||A2Tech produces mobile robotics solutions with a primary focus on industrial inspection.|
|Advanced Navigation||$5,200,000||Other||Australia||Advanced Navigation creates advanced navigation systems and robotics technologies.|
|Agtonomy||Estimate||Other||USA||Agtonomy produces a hybrid autonomy and tele-assist platform for agriculture vehicles.|
|Aibo Medical Robot||$14,095,426||Series A||China||Aibo Medical Robot focuses on the development of vascular interventional surgery robots.|
|Angsa Robotics||$2,697,625||Seed||Germany||Angsa Robotics provides mobile robots that automate rubbish collection.|
|Arbe||$23,000,000||Other||Israel||Arbe Robotics offers real time 4D imaging software for autonomous driving.|
|Augmentus||Estimate||Other||Singapore||Augmentus produces no-code robot programming software.|
|Aviant||$1,069,747||Other||Norway||Aviant provides end-to-end drone services for thr transport of cargo|
|B GARAGE||$20,000,000||Series A||USA||B GARAGE is an autonomous drone and service company for warehouse inventory management.|
|Barrett Technology||$2,000,000||Other||USA||Barrett Technology offers a therapy robot designed for intensive motor learning practice and repetitions.|
|Blue Atlas Robotics||$70,000||Other||Denmark||Blue Atlas Robotics manufactures subsea inspection robots and provides marine survey solutions.|
|Cobionix||$2,800,000||Seed||Canada||Cobionix produces autonomous, collaborative robots.|
|Collaborative Robotics||30,000,000||Series A||United States||Unknown|
|ESTAT Actuation||$10,000||Other||USA||ESTAT Actuation is a developer of electroadhesive clutches that make robots or machines more capable and affordable.|
|FarmFleet||$550,000||Pre-Seed||Ukraine||FarmFleet offers a drone-based solution for the application of pesticides and fertilizers.|
|FERNRIDE||$31,316,885||Series A||Germany||FERNRIDE provides autonomous, electric trucking solutions.|
|Grasp Robotics||Estimate||Other||USA||Grasp Robotics is developing humanoid robots, beginning with a robotic hand.|
|Guardian Agriculture||$14,999,973||Other||USA||Guardian Agriculture provides advanced crop protection services.|
|Hantewin||$1,386,654||Seed||China||Hantewin is an intelligent mobile robot manufacturer.|
|ideaForge||$7,300,707||Other||India||IdeaForge produces drones for mapping, security, and surveillance applications.|
|Innoplier||Estimate||Seed||China||Innoplier manufactures mobile robotbs for pipe inspection and maintance operations.|
|IONA||Estimate||Pre-Seed||UK||IONA develops zero-emission autonomous drone solutions for logistics in low population density areas.|
|ISYBOT||$3,233,933||Other||France||ISYBOT is a designer and manufacturer of collaborative robots.|
|LandSkyAI||$200,000||Seed||USA||LandSkyAI offers a variety of autonomous robotics solutions.|
|Milvus Robotics||$600,000||Other||Turkey||Milvus Robotics provides intelligen, autonomous mobile robots.|
|Mobileye||$1,617,000,000||Other||Israel||Mobileye produces vision-based advanced driver assistance systems.|
|MOVE ON||$212,768||Pre-Seed||Turkey||MOVE ON produces AI-based Agtech solutions.|
|Nimbl'bot||$2,155,685||Seed||France||Nimbl'bot produces snake like robots for a variety of tasks.|
|Novarc Technologies||$2,065,000||Other||Canada||Novarc specializes in the design and commercialization of collaborative robots for welding.|
|Ottonomy||Estimate||Seed||USA||Ottonomy produces autonomous robots for contactless deliveries for both indoor and outdoor environments.|
|Paeon||Estimate||Seed||USA||Paeon is a robotics company that develops adaptive prosthetics and autonomous robots.|
|Percepto||$67,000,000||Series C||Israel||Percepto is a developer of autonomous drone technology for surveillance and inspections.|
|Realtime Robotics||$9,500,000||Series A||USA||Realtime Robotics develops a software platform for robots to function with minimal programming.|
|Renatus Robotics||$2,000,000||Seed||Japan||Renatus Robotics produces automated warehouse systems.|
|ROBO Medical||Estimate||Series A||China||ROBO Medical is a medical robotics research and development company.|
|SAGE Intelligent||Estimate||Seed||China||SAGE Intelligent is a producer of mobile robotis for commercial and industrial applications.|
|SentinelSky||Estimate||Seed||USA||SentinelSky offers first responder drone services.|
|silana||Estimate||Other||Austria||silana develops technologies that automate the production process in the fashion industry.|
|sliQue Robotics||Estimate||Seed||USA||sliQue Robotics develops mobile robots and other technologies for various commercial sectors.|
|Teal Drones||$1,200,000||Other||USA||Teal Drones produces unmanned aerial vehicle technology.|
|THINK Surgical||$5,000,000||Other||USA||THINK Surgical develops, manufactures and markets robotic surgical systems for orthopedic surgery.|
|Turin Robot||$14,060,149||Series A||China||Turin Robot provides industrial robot automation and intelligent system integration solutions.|
|United Aircraft||$167,733,638||Series D||China||United Aircraft specializes in the research and development of drones and other equipment.|
|UnitX||$40,000,000||Series B||USA||UnitX provides deep learning inspection system for automated manufacturing.|
|Urban Machine||$10,000||Other||USA||Urban Machine manufactures robotics technology for lumber reclamation operations.|
|uWare Robotics||$538,033||Seed||Belgium||uWare Robotics produces autonomous underwater vehicles (AUVs).|
|Virtual Incision||$10,971,230||Other||USA||Virtual Incision develops a miniaturized surgical robotic support device with a focus on colon resection.|
|Vision Aerial||$307,281||Seed||USA||Vision Aerial offers drones and drone flight services.|
|Voaige||Estimate||Other||USA||Voaige provides a visioning software for robotics applications.|
|XSurgical Robotics||$11,500||Other||USA||XSurgical Robotics produces surgical robots.|
|Zikoo||Estimate||Series A||China||Zikoo offers pallet storage robots and other intelligent storage solutions.|
Companies based in the United States and China once again received the most number of rounds, 20 and 8, respectively (see Figure 1). However, firms based in Israel attracted the greatest amount of investment buoyed by $1.6 billion going to Mobileye, a maker of vision-based sensors for driver assist and autonomous driving applications. Similarly, Israel-based Percepto, a developer of autonomous drone technology for surveillance and inspections, attracted $67 million in Series C funding.
Providers of drones, drone-enabling technologies and analytic services continue to attract the attention of the investment community. Other examples include United Aircraft ($168M), B GARAGE ($20M) and ideaForge ($7M). Surgical robotics developers and their enabling technologies also continue to secure sizable funding rounds. For example, Aibo Medical Robot secured a $14M Series A investment, while Virtual Incision and THINK Surgical received investments of $10.9M and $5M, respectively.
Figure 1: June 2023 Robotics Investment by Country
June 2023 robotics investments were atypical in that most funding fell under the aegis of ‘Other’, a catchall descriptor for investments that do not include the typical stages of funding that businesses go through before their initial public offering (ex. Seed rounds followed by Series A, B, C, D and E funding). Mobileye’s post-IPO secondary round skewed the June 2023 results.
Figure 2: June 2023 Robotics Funding Amounts by Investment Type
Figure 3: June 2023 Robotics Funding Amounts by Investment Number and Amounts
Editor’s 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 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.
Funding information is collected from a number of public and private sources. These include press releases from corporations and investment groups, corporate briefings, market research firms, and association and industry publications. 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 and estimates are made where investment amounts are not provided or are unclear.