Robotics funding for the month of October 2023 equaled approximately $980 million, the result of 68 rounds. The October investments bring the 2023 robotics funding totals to $11.7 billion.
October 2023 robotics funding equaled $980 million, the result of 68 investments. Total 2023 robotics funding for January through October equals approximately $11.7 billion.
Table 1: October 2023 Robotics Funding and Investment
| Company Name | Amount | Type | Country | Tech-Prod-Services | Description | |
|---|---|---|---|---|---|---|
| Accelerating Evolution | Estimate | Pre-Seed | China | Humanoids / Bipeds, Software | Accelerating Evolution is developing a humanoid robot and a control and development platform. | |
| ADR (Australian Droid + Robot) | $160,930 | Seed | Australia | Outdoor Mobile Platforms, Data Acquisition / Processing / Management | ADR produces smart, all-terrain, field-ready mobile robots for the capture and storage data in challenging industrial environments. | |
| Advanced Farm Technologies | Estimate | Other | USA | Outdoor Mobile Platforms, Sensors / Sensing Systems | Advanced Farm Technologies provides robotics solutions for automating agricultural tasks. | |
| Aerialoop Corp | $2,500,000 | Series A | USA | Drones, Operator Services | Aerialoop offers drone-based urban aerial logistic services. | |
| Aigen | $12,000,000 | Series A | USA | Outdoor Mobile Platforms, Sensors / Sensing Systems | Aigen produces robotics systems that autonomously navigate, weed, and analyze row crops. | |
| AirSeed Technologies | $500,000 | Other | Australia | Drones, Software, Data Acquisition / Processing / Management | AirSeed Technologies utilizes drone technology, artificial intelligence, and proprietary seed pod biotechnology for environmental rehabilitation applications. | |
| Ascento | $168,339 | Other | Switzerland | Indoor Mobile Platforms, Outdoor Mobile Platforms | Ascento designs a compact wheeled jumping robot for enhanced security in various industries. | |
| blueflite | $1,000,000 | Other | USA | Medium Unmanned Aerial Vehicles (Drones | Blueflite manufactures cargo drones for logistics operations. | |
| Bonsai Robotics | $10,500,000 | Seed | USA | Outdoor Mobile Platforms, Sensors / Sensing Systems, Video / Vision / Imaging | Bonsai Robotics provides vision-based autonomy solutions for off-road vehicles, such as agricultural machines. | |
| Bota Systems | $2,500,000 | Seed | Switzerland | Sensors / Sensing Systems | Bota Systems is a developer of force torque sensors, load cells and robotic grippers. | |
| Clockwork | $5,690,603 | Other | USA | Other Commercial | Clockwork builds AI-powered robots for painting fingernails. | |
| Cook-e | $5,256,247 | Other | France | Other Commercial | Cook-e offers a robotic kitchen and software for restaurants | |
| Crover | $60,818 | Other | UK | Outdoor Mobile Platforms, Data Acquisition / Processing / Management | Crover produces a robotic system that swims inside of a grain silo collecting information and providing analysis about environmental conditions. | |
| Didi Woya | $149,000,000 | Other | China | Software, Sensors / Sensing Systems | Didi Woya develops technologies for self-driving vehicles for rideshares. | |
| Donecle | $5,906,039 | Other | France | Drones, Data Acquisition / Processing / Management | Donecle offers a drone-based aircraft inspection solution for detecting defects in aircraft, landing gears, and engines. | |
| EGROBOTS | $15,806 | Other | Egypt | Outdoor Mobile Platforms, Data Acquisition / Processing / Management | We provide precision agriculture as a service for tree farms. | |
| EVENTEC | Estimate | Series B | China | Indoor Mobile Platforms | EVENTEC autoonomous mobile robots and other technologies for industrial and commercial applications. | |
| Faction | $6,000,000 | Seed | USA | Software, Operator Services – UGVs | Faction provides autonomy software and remote teleoperation services for light electric vehicles. | |
| FlyGuys | $10,000,000 | Series A | USA | Operator Services, Data Acquisition / Processing / Management | FlyGuys offers drone services to companies in multiple commercial and industrial companies. | |
| Formant | $21,000,000 | Series A | USA | Software | Formant provides cloud-based monitoring and operations software for deploying, scaling, and managing robotics fleets. | |
| Galaxy Bot | Estimate | Other | China | Indoor Mobile Platforms, Humanoids / Bipeds | Galaxy Bot is developing dual-armed and wheeled robots for use in the retail sector. | |
| Garuda Aerospace | $3,006,547 | Series A | India | Drones, Operator Services | Garuda Aerospace develops unmanned aerial vehicles for the defense, aerospace and other sectors. | |
| Glacier | Estimate | Other | USA | Articulated Robots, Sensors / Sensing Systems | Glacier provides robotic recycling technology. | |
| Goodbytz | $12,714,005 | Series A | Germany | Collaborative Robots, Sensors / Sensing Systems, Video / Vision / Imaging | Goodbytz creates intelligent robotic kitchen assistants for the restaurant and food service sectors. | |
| HoverWing Technology | Estimate | Pre-Seed | China | Drones | HoverWing Technology is focused on the development of large-load unmanned helicopters and drone products. | |
| Huasheng Intelligent | $13,668,858 | Series B | China | Indoor Mobile Platforms, Automated Guide Vehicles | Huasheng Intelligent offers a variety of manufacturing solutions including AMRs and automated storage & retrieval systems. | |
| Huazhang Intelligent | $13,695,815 | Pre-Seed | China | Indoor Mobile Platforms, Automated Storage & Retrieval Systems | Huazhang Intelligent is a provider of shuttle robot system solutions. | |
| idealworks | Estimate | Series A | Germany | Indoor Mobile Platforms, Software | idealworks offers autonomous mobile robots and support technologies for logistics operations. | |
| Machina Labs | $32,000,000 | Series B | USA | Articulated Robots, Software | Machina Labs provides a robotic platform that automates the manufacture of advanced composite and metal products. | |
| Milla | $15,904,994 | Seed | France | Autonomous Transportation Systems | Milla develops, produces, and sells self-driving cars for on-demand and shared transportation. | |
| Nanoflex Robotics | $441,966 | Other | Switzerland | Surgical / Interventional Systems | Nanoflex Robotics provides soft robotics solutions for the treatment of ischemic stroke. | |
| Nauticus Robotics | $11,600,000 | Other | USA | Unmanned Underwater Vehicles, Consulting / Engineering | Nauticus Robotics provides unmanned underwater vehicles and engineering services. | |
| NEURA Robotics | $16,011,027 | Other | Germany | Collaborative Robots, Indoor Mobile Platforms | Neura Robotics develops cognitive robotic systems that can be utilized in both industrial and commercial settings. | |
| Niryo | $6,724,963 | Series A | France | Articulated Robots, Software | Niryo is a provider of educational robots. | |
| Northsence | Estimate | Seed | Sweden | Indoor Mobile Platforms | Northsence offers mobile inspection robots for the construction industry. | |
| Osiris agriculture | $2,273,183 | Seed | France | Outdoor Mobile Platforms | Osiris offers an autonomous mobile robot for irrigation and fertilization operations. | |
| Pablo Air | $15,500,000 | Other | Korea | Drones, Operator Services | Pablo Air provides drone technologies and services for delivery operations. | |
| ParaZero | $5,100,000 | Other | Israel | Drones, Data Acquisition / Processing / Management | ParaZero provides safety solutions for aerial systems including drones, UAS, fixed wing, and other manned & unmanned platforms. | |
| PickNik Robotics | $2,000,000 | Pre-Seed | USA | Software | PickNik Robotics provides software solutions for the development of advanced robotic arm applications. | |
| Pitch Aeronautics | $400,002 | Seed | USA | Drones | Pitch Aeronautics offers drones for installations, maintenance, and up-close inspections. | |
| Pony.ai | $100,000,000 | Series D | USA | Sensors / Sensing Systems, Microcontrollers / Microprocessors / SoC, Software | Pony.ai develops autonomous vehicle technology. | |
| Promise Robotics | $14,986,918 | Series A | Canada | Software, Articulated Robots | Promise Robotics is developing a cloud-based industrial production platform for robotic construction and assembly | |
| Qingwei Rufeng Technology | $1,370,000 | Pre-Seed | China | Autonomous Transportation Systems | Qingwei Rufeng Technology is an autonomous vehicle company that offers an unmanned airport logistics transportation solution. | |
| Quantum Systems | $67,384,231 | Series B | Germany | Drones | Quantum Systems specializes in the development, design, and production of small Unmanned Aerial Systems (sUAS). | |
| RiACT | Estimate | Other | Denmark | Software | RiACT provides a universal operating system for industrial robots that acts as the interface between robotic hardware and intelligent robots. | |
| RoboCT | Estimate | Other | China | Exoskeletons, Rehabilitation / Therapeutic Systems | RoboCT is a developer of exoskeleton robot technology that helps patients with lower-body motor dysfunction learn to walk. | |
| Robohood | Estimate | Pre-Seed | USA | Collaborative Robots, Software | Robohood produces a robotic system that transforms transform images into paintings using brushes, and oil or acrylic paints. | |
| Rosiwit | Estimate | Seed | China | Indoor Mobile Platforms, Outdoor Mobile Platforms | Rosiwit produces mobile robots for indoor and outdoor cleaning. | |
| Ruizhu Technology | $13,675,774 | Series A | China | Sensors / Sensing Systems | Ruizhu Technology is focused on 3D ranging solutions based on LiDAR technology. | |
| Saronic | $55,000,000 | Series A | USA | Unmanned Surface Vehicles | Saronic provides naval and maritime forces with intelligent autonomous surface vessels. | |
| Shanmu | $1,369,919 | Other | China | Micro / Nano | Shanmu provides a micro robot that utilizes proprietary microfluidic chipsets and artificial intelligence algorithms. | |
| Shield AI | $200,000,000 | Series F | USA | Drones, Software | Shield AI offers an AI pilot for aircraft and autonomous aerial vehicles. | |
| Shihang Intelligent | $1,406,848 | Pre-Seed | China | Unmanned Underwater Vehicles, Unmanned Surface Vehicles | Shihang Intelligence is a provider of unmanned surface and underwater robots for the maintenance of water bodies and their assets. | |
| sliQue Robotics | Estimate | Seed | USA | Indoor Mobile Platforms | sliQue Robotics develops mobile robots and other technologies for various commercial sectors. | |
| Stial | Estimate | Seed | China | Articulated Robots, Sensors / Sensing Systems | Stial is a manufacturer of adaptable polishing robots. | |
| Strict Technology | Estimate | Series A | China | Articulated Robots, Consulting / Engineering | Strict Technology is a developer of special-purpose robots for the steel and aerospace industries. | |
| Tethys Robotics | $44,216 | Other | Switzerland | Unmanned Underwater Vehicles | Tethys Robotics develops underwater drones for search & recovery, inspection and surveillance applications. | |
| TETRA ELC | $13,671,474 | Series C | China | Outdoor Mobile Platforms, Sensors / Sensing Systems | TETRA ELC is a manufacturer of robotic equipment that provides intelligent operation and maintenance solutions to the energy industry. | |
| Thread | $15,000,000 | Series A | USA | Drones, Data Acquisition / Processing / Management | Thread offers a drone-based autonomous data collection solution for asset inspection operations. | |
| TideWise | $1,986,294 | Series A | Brazil | Unmanned Surface Vehicles | Tidewise offers unmanned surface vehicles for marine operations.. | |
| Urban Matrix | $720,435 | Seed | India | Drones | UrbanMatrix provides drones and enabling technologies. | |
| Vayu Robotics | $12,700,000 | Seed | USA | Sensors / Sensing Systems, Software, Outdoor Mobile Platforms | Vayu Robotics develops automotive sensing solutions, autonomous vehicles and robotics technology. | |
| Wastefull Insights | $150,000 | Pre-Seed | India | Sensors / Sensing Systems, Video / Vision / Imaging | Wastefull Insights is developing robotic waste sorting solutions. | |
| Wire Control Technology (Transcabler) | Estimate | Pre-Seed | China | Articulated Robots | Wire Control Technology is a developer of a wire-controlled robot designed for hoisting, spraying, welding, palletizing, handling, and other applications in manufacturing environments. | |
| Wootzano | Estimate | Seed | UK | Collaborative Robots, Sensors / Sensing Systems | Wootzano manufactures a dexterous robotic system for packing fresh produce. | |
| Zhuji Dynamics | $27,349,679 | Pre-Seed | China | Outdoor Mobile Platforms, Humanoids / Bipeds, Quadrupeds | Zhuji Dynamics develops wheeled and legged robotic systems for a wide variety of commercial and industrial applications. | |
| Zordi | $20,000,000 | Other | USA | Indoor Mobile Platforms, Articulated Robots, Sensors / Sensing Systems | Zordi offers an autonomous modular greenhouse platform powered by artificial intelligence and robots. | |
In October, companies located in the USA, China and Germany received the majority funding amounts, receiving $530, $260, and $101 million, respectively (See Figure 1, below). Companies based in the USA received the majority of the rounds (22), while Chinese companies secured 10 investments.
The types of businesses receiving funding in October varied widely in their technologies, products and services. Unlike previous months in 2023, where surgical robotics companies and providers of self-driving software and hardware solutions for autonomous transportation dominated, no general investment theme emerged. It should be noted, however, that Didi Woya ($149 million) and Pony.ai ($100 million), both autonomous transportation solutions providers, did secure sizable funding rounds.
Figure 1: October 2023 Robotics Investment by Country
For both the total number of investments and the overall amount of funding, most rounds and investment amounts fell into the ‘Other’ category, a blanket term for investment types that fall outside the typical stages of funding that businesses go through before their initial public offering (ex. Seed rounds followed by Series A, B, C, D, E and F funding). Two late-stage fundings, Shield AI (Series F) and Pony.ai (Series D), accounted for approximately one-third of the total October 2023 funding amounts..
Figure 2: October 2023 Robotics Funding Amounts by Investment Type
Figure 3: October 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.
Verification
Funding information is collected from several 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.
