Robotic VISION Technologies Inc. (RVT), a machine vision software company, raised $10.5 million in funding. The investment comes from a mix of CEO and Director funding as well as investments from technology funds from Silicon Valley, Northern Virginia, Canada and Germany.
RVT has primarily focused on R&D and enhancing its software with faster computing power and increased precision and speed. The company, founded in 2010 by Rick Weidinger, said it will use the new funding for ”
building out its sales and marketing capabilities to support growth and market penetration in both the industrial and collaborative robot markets.”
RVT’s 2D, 2.5D, and 3D vision guidance software enable image recognition, machine vision, machine learning, and robot guidance in industrial and non-industrial markets. RVT has recently developed a 3D vision guidance system for the collaborative robot market and has been designated as a Certified System Integrator by Universal Robots.
Major manufacturers using RVT’s products include Ford, General Motors, Chrysler, Honda, Toyota, Nissan, Harley-Davidson, Boeing, and Johnson & Johnson. RVT’s eVisionFactory (eVF) software platform is installed in hundreds of systems worldwide and operates every day controlling over one-half billion dollars of capital equipment.
“With the success we have achieved in early implementations along with the patents we’ve secured for our innovation,” Weidinger said, “now is the time to build our sales channels and lead the way in 3D vision guidance software.”
RVT and its partners were recently granted four new patents for several aspects of its technology, including visual sensing and processing software that improves the efficiency and safety of automated robotic systems. RVT has recently filed for 14 patents for a total portfolio of 20 vision guidance patents.
Major automotive and other manufacturers are already using RVT’s new technology in their factories, and more are applying upgraded RVT software into their production lines now.
“The reality of machine vision will be one of the most disruptive forces in all areas of manufacturing and transportation over the next decade,” said New York Times bestselling author Ric Edelman, RVT investor and founder & executive chairman of Edelman Financial Services, one of the largest investment management firms in the nation, with $22 billion in assets under management. “RVT and its technology are poised to transform the way robots function in multiple markets. Their innovations in how machines perceive and respond to their environments are exactly what customers are looking for as they develop the next generation of equipment and end user products.”