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Robotics investments recap: November 2019

By Eugene Demaitre | December 5, 2019

Robotics investments recap: November 2019

Alibaba invested $3.3 billion in Cainaio, whose warehouse robots are shown here, in November 2019. Source: Alizila.com

In November 2019, The Robot Report tracked a total of about $4.7 billion in robotics transactions. Aside from one large investment in logistics, several of the reported investments this past month were in autonomous vehicles, followed by sensors and other components.

In October 2019, robotics transactions totaled about $1.3 billion, and The Robot Report recorded $693 million in transactions in November 2018.

While developers of self-driving cars are competing with other robotics companies for talent, they’re getting a major share of venture capital, with $448 million in funding in November 2019. Component makers were involved in $460 million worth of transactions last month.

In November 2019, 28 companies received a total of $4.4 billion in funding for everything from battery technologies and aerial drones to robots for food preparation and assisting surgeons. In comparison, The Robot Report tracked 43 investments in the previous month. See also our roundup of the 20 largest investments from the first half of this year.

The table below lists investments in millions of U.S. dollars, where amounts were publicly available:

Robotics investments November 2019

CompanyAmt. (M$)TypeLead investor, partnerDateTechnology
Advanced Navigation13Series AMain Sequence Ventures, CSIRO Innovation FundNov. 26navigation systems
AMP Robotics Corp.16Series ASequoia CapitalNov. 14recycling robots and AI
Assisted Surgical TechnologiesinvestmentRussian Direct Investment FundNov. 9surgical robots
Bumblebee SpacesSeries ANTT Venture CapitalNov. 21robotic furniture
Cainiao Smart Logistics Network Ltd.3300investmentAlibaba Group Holding Ltd.Nov. 8automation
Diagnostic Robotics24Series AAccelmed Growth Partners, Mivtach Shamir HoldingsNov. 13emergency room robotics
Dive Technologies Inc.3equity saleNov. 20undersea robotics
DraganflyIPONov. 5drone inspections
DroneDeploy 35Series DBessemer Venture PartnersNov. 13drone mapping, analytics
Extreme VisionSeries BQualcomm VenturesNov. 29AI, machine vision
Galen Robotics Inc.investmentVerte Opportunity FundNov. 6surgical robots
Group14 Technologies18investmentAmperex Technologies Ltd., Showa Denkoo, Cabot Corp., BASF Venture Capital, OVP Venture PartnersNov. 21lithium-ion batteries
iSee15Series AFunders FundNov. 11autonomous trucks
MetawaveSeries ADenso Corp.Nov. 5radar sensors for AVs
Miso Robotics30equity crowdfundingNov. 7hamburger flipping robot
Pensa Systems10seedSignia Venture Partners, ATX Venture PartnersNov. 20drone inventory
Picnic5seedCreative VenturesNov. 19pizza-making robot
Reckon Point Robotics1.5seedNotes We Buy LLCNov. 1indoor mapping
Renu Robotics Corp.2.9equityNov. 15robotic tractor
Rocsys0.22investmentUniiq Investment FundNov. 11EV refueling robots
Skydweller Aero Inc.investmentLeonardoNov. 11solar-powered drones
Smart RoboticsinvestmentVC Innovation Industries, Mirai Creation Fund IINov. 11collaborative robot software
Vayyar Imaging Ltd.109Series DKoch Disruptive TechnologiesNov. 204D radar sensors
Volt14 Solutions0.95investment500 DuriansNov. 19nanotech, batteries
Wayve20Series AEclipse VenturesNov. 17self-driving car AI
XACT Robotics Ltd.36Series D Chasing Value Asset Management Inc., Corindus Vascular RoboticsNov. 13surgical robots
Xpeng Motors400Series CXiaomiNov. 13autonomous vehicles
Zume Inc.375equity saleSoftBank Vision FundNov. 1pizza-making robot

There were five automation-related mergers and acquisitions in November 2019, compared with seven in October and four in November of last year. See also our list of 10 notable mergers and acquisitions in the first half of 2019. Here are the past month’s acquisitions:

Robotics acquisitions November 2019

CompanyAmt. (M$)Acquirer, partnerDateTechnology
Bal Seal Engineering Inc.330Kaman Corp.Nov. 5engineering
REI Automation Inc.The HAHN Group GmbHNov. 1systems integrator
Ruhrbotics GmbHThe HAHN Group GmbHNov. 5robot programming
Smart AgRaven IndustriesNov. 1autonomous tractors
Tru-D SmartUVC LLCPDI Inc.Nov. 7UV disinfection robot

Logistics and transportation stay on top

Even as the major automakers and some large technology firms have postponed their predictions of when fully autonomous vehicles will be available, the potential market size and hopes for spinoff benefits for robotics startups are attractive to investors.

The largest single investment of November 2019 was Alibaba’s $3.3 billion stake in Cainiao, which works on logistics, Internet of Things, and supply chain technologies such as mobile robots. Smart Robotics didn’t specify the amount of its funding for software to configure collaborative robots.

Chinese electronics company Xiaomi Corp. led the $400 million Series C for electrical and autonomous vehicle maker Xpeng Motors.

One of the biggest challenges to self-driving cars is the creation of systems that can understand their surroundings and make decisions in real time. Wayve raised $20 million as it works to improve the artificial intelligence for self-driving cars.

Similarly, MIT spinoff iSee, which raised $15 million, is applying deep learning to autonomous trucks. Advanced Navigation raised $13 million for lean, AI-based navigation offerings.

Whether it’s pumping gasoline or plugging in electric vehicles, somebody needs to flip the switch. Rocsys raised $220,000 for autonomous systems to charge electric vehicles.

Component makers get cash in November 2019

In November 2019, Kaman Corp. acquired Bal Seal Engineering for $330 million. In addition, suppliers of sensors, engineering, and services for robots and vehicles raised $129 million in funding.

Koch Disruptive Industries led a $109 million Series D round for Vayyar Imaging, which is developing “4D” radar sensors. Metawave raised an unspecified Series A, led by automotive supplier Denso, for its own radar for autonomous vehicles.

In battery technologies, Group14 Technologies raised $18 million, and Volt14 Solutions raised $955,000. Both are working on nanotechnology to add energy-storage capacity beyond that of conventional lithium-ion batteries. (Group14 is named after a group on the periodic table that includes carbon, silicon, and other elements with two electrons in their outermost orbits.)

Qualcomm Ventures led Series B funding for machine vision startup Extreme Vision, while Reckon Point Robotics, which is developing indoor mapping software, raised $1.5 million in seed funding.

HAHN Group acquired programming provider Ruhrbotics and systems integrator REI Automation. HAHN acquired Rethink Robotics’ intellectual property around its Sawyer collaborative robot last year.

Surgical, ER robots have modest month

As we look ahead to next week’s Healthcare Robotics Engineering Forum, it’s worth noting that November 2019 was relatively quiet for this sector, with about $60 million in transactions.

XACT Robotics raised $36 million for its hands-free needle-steering system, and Diagnostic Robotics raised $24 million for robots that use AI to assess the urgency of cases in an emergency room.

In other surgical robotics fundraising, Baltimore-based Galen Robotics raised an unspecified amount, as did Russia-based Assisted Surgical Technologies.

PDI acquired True-D SmartUVC, which makes a robot that disinfects hospital environments with ultraviolet light.


The Robot Report is launching the Healthcare Robotics Engineering Forum, which will be on Dec. 9-10, 2019, in Santa Clara, Calif. The conference and expo will focus on improving the design, development, and manufacture of next-generation healthcare robots. Learn more about the Healthcare Robotics Engineering Forum, and register now!


Food and service robots give thanks

Service robot companies raised $400 million in November 2019. One of the largest robotics investments of the past month was the $375 million equity sale by Zume, whose pizza-making robot got support from the SoftBank Vision Fund. (The sale occurred on Oct. 17 but was reported on Nov. 1.)

Also in pizza making robots, Picnic, a.k.a. Vivid Robotics, raised seed funding of $5 million.

Miso Robotics turned to equity crowdfunding for its Flippy burger-flipping robot. It hopes to raise up to $30 million.

Bumblebee Spaces raised an unspecified Series A, including investment from Toyota AI Ventures, for robotic furniture.

At the end of the product lifecycle, the U.S. recycling industry is struggling to make up for Chinese restrictions. AMP Robotics, which has raised $16 million in Series A funding, has designed its high-speed Cortex system is to facilitate sortation.

The one failure this month was France-based Hease Robotics, mainly due to a fire. However, its customer-service robots illustrated some of the ongoing challenges facing social robots.

Smart tractors and drones get funding in November 2019

Renu Robotics, which is working on a robotic mowers, hopes to raise $2.9 million in an equity round that’s still open. Raven Industries acquired autonomous tractor company Smart Ag for an unspecified amount.

Drone mapping and analytics provider DroneDeploy raised $35 million, and drone inventory provider Pensa Systems raised $10 million in seed funding in November 2019.

Drone inspection firm Draganfly, which had previously raised $5.3 million (U.S.), had its initial public offering. Skydweller Aero, which is building solar-powered drones for long-duration flights, raised an unspecified amount in November 2019.

In addition to the field robotics firms above, Dive Technologies raised $3 million in equity sale for its undersea exploration robots, according to a filing with the U.S. Securities and Exchange Commission (SEC).


Editors’ 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 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 a number of public and private sources. These include press releases from corporations and investment groups, corporate briefings, industry analysts such as Tracxn, 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.

About The Author

Eugene Demaitre

Eugene Demaitre is editorial director of the robotics group at WTWH Media. He was senior editor of The Robot Report from 2019 to 2020 and editorial director of Robotics 24/7 from 2020 to 2023. Prior to working at WTWH Media, Demaitre was an editor at BNA (now part of Bloomberg), Computerworld, TechTarget, and Robotics Business Review.

Demaitre has participated in robotics webcasts, podcasts, and conferences worldwide. He has a master's from the George Washington University and lives in the Boston area.

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