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Robotics investments top $1.63B in April 2023

By Dan Kara | May 31, 2023

Robotics investments totaled $1.63 billion in April 2023 as a result of 47 investments (see Table 1 below or download Table 1 HERE). The April investments bring the 2023 robotics funding total to approximately $3.3 billion. Investments totaled $526 million in March 2023, $620 million in February 2023 and $521 million in January 2023. 


Table 1: April 2023 Robotics Funding and Investment

CompanyAmountRoundCountryTech-Prod-ServiceDescription
42dot$782,791,615OtherSouth KoreaAutonomous Transportation Systems42dot offers self-driving software and hardware solutions that enable and support autonomous mobility.
aiEndoscopic$557,040SeedSwitzerlandSurgical / Interventional SystemsaiEndoscopic is developing robotics systems for endoscopic tracheal intubation.
allocortech$75,000GrantUSAActuators / Motors / Servos, ControllersAllocortech provides products for avionics, control systems, and general embedded systems for UAS and UAM aircraft applications.
ARTIAL$120,000Pre-SeedUSAOperator Services, Data Acquisition / Processing / ManagementARTIAL provides drone-based inspection solutions for the construction, energy, and infrastructure sectors.
BarajaEstimateOtherAustraliaSensors / Sensing SystemsBaraja produces LiDAR technologies for self-driving vehicles.
Bottobo$1,000SeedTurkeyIndoor Mobile PlatformsBottobo produces fully automated and self-contained warehouse robots and intelligent systems.
Carbon Robotics$30,000,000Series CUSAOutdoor Mobile Platforms, Sensors / Sensing SystemsCarbon Robotics develops robots for agriculture-related applications.
Covariant$75,000,000Series CUSASoftware, Sensors / Sensing SystemsCovariant provides a number of software solutions that automate pick-and-place processes at warehouses and fulfillment centers.
Crow Industries$120,000Pre-SeedUSAOutdoor Mobile PlatformsCrow Industries provides robotics enabled geomatics services to the mining industry.
DaedaleanEstimateGrantSwitzerlandSoftware, Sensors / Sensing SystemsDaedalean is building autonomous piloting software systems for aerial mobility.
Delivery One$6,374,924OtherTurkeyDrones, Operator ServicesDelivery One provides last-mile delivery solutions using drones and other technologies.d quality.
Distalmotion$150,192,209OtherSwitzerlandSurgical / Interventional SystemsDistalmotion produces a surgical robot called Dexter.
EmbotechEstimateGrantSwitzerlandSoftwareEmbotech provides software solutions that enable driverless mobility.
HydromeaEstimateGrantSwitzerlandUnmanned Underwater VehiclesHydromea provides underwater drones for submerged asset inspections.
Infcom$14,543,339Series BChinaActuators / Motors / ServosInfcom Industrial produces servo drives, servo motors, and related software.
infiniDome$9,000,000Series AIsraelSensors / Sensing Systems, Networking / ConnectivityinfiniDome develops GPS protection solutions for drones.
iotaMotion$8,509,999OtherUSASurgical / Interventional SystemsIotaMotion is developing robotics-assisted solutions for cochlear implant surgery.
Keybotic$3,309,479SeedSpainQuadrupedsKeybotic is a designer and manufacturer of autonomous four-legged robots for monitoring, inspecting, and mapping of complex environments.
Kind Humanoid$150,000Pre-SeedUSAHumanoids / BipedsKind Humanoid is developing intelligent humanoid robots.
Kuxun IntelligentEstimateSeries AChinaIndoor Mobile Platforms, Automated Guide Vehicles, Autonomous ForkliftsKuxun Intelligent produces a variety of mobile robots for warehousing operations.
Leial TechnologiesEstimateOtherSpainArticulated Robots, Educational / KitsLeial Technologies is an educational robotics supplier.
LogiXairEstimateOtherThe NetherlandsDrones, Operator ServicesLogiXair provides unmanned aircraft based logistics using autonomous flying cargo systems.
Lukai ZhixingEstimateSeries AChinaOutdoor Mobile Platforms, Autonomous Transportation SystemsLukai Zhixing is a unmanned vehicle solution provider focused on the field of smart mining operations.
May Mobility$3,000,000GrantUSAAutonomous Transportation Systems, Sensors / Sensing Systems, SoftwareMay Mobility provides autonomous vehicle technology for commercial fleets.
Nanoflex RoboticsEstimateGrantSwitzerlandSurgical / Interventional SystemsNanoflex Robotics provides robotics solutions for the treatment of ischemic stroke.
Naurobotics$3,036,698Series ASouth KoreaArticulated Robots, SCARA Robots, End EffectorsNaurobotics offers robotic automation systems and griping technology.
Padbot TelepresenceEstimateSeries BChinaIndoor Mobile PlatformsPadbot Robot, a service robot brand of Inbot Tech, produces a number of commercial delivery robots, security patrol robots, and cleaning and disinfection robots.
ParaWaveEstimateGrantUSADronesParaWave is developing drone technology to assist first responders.
Perceptual Robotics$3,355,558OtherCity ofDrones, Operator Services, Data Acquisition / Processing / ManagementPerceptual Robotics offers drone based inspection services for wind turbine inspection and other infrastructure applications.
Perceptyne Robots$723,563SeedIndiaHumanoids / Bipeds, Arms/ManipulatorsPerceptyne Robots is developing dexterous robotics systems that can automatate various industrial tasks.
Phantom Auto$25,000,000OtherUSAOperator ServicesPhantom Auto offers teleoperation safety solutions and remote operations for logistics vehicles.
Propeller Aero$15,272,472OtherAustraliaDrones, Operator Services, Data Acquisition / Processing / ManagementPropeller provides drone-mapping and analytics solutions for worksite operations.
Reakto$1,163,022SeedPolandOperator Services, Data Acquisition / Processing / ManagementReakto is a manufacturer and operator of UAV systems that provide securiy services.
Roboto AI$4,800,000SeedUSAData Acquisition / Processing / ManagementRoboto AI provides technology that accelerates the search, transformation, and analysis of robotics data.
Robust.AI$20,000,000Series AUSAIndoor Mobile Platforms, Software, Sensors / Sensing SystemsRobust.AI manufactures robots for warehouse operations.
Rogue Space SystemsEstimateOtherUSAOther CommercialRogue Space Systems develop robots to deliver services solutions to satellite operators, manufacturers and insurers.
SensorSurf$500,000Pre-SeedUSAData Acquisition / Processing / Management, SoftwareSnowflake offers softwar for collecting, manipulationing and analyzing robotics data.
Sniffer Robotics$2,000,000SeedUSAExoskeletonsSniffer Robotics provides the municipal solid waste industry drone base services for methane gas detection and analysis.
Surgerii TechnologyEstimateSeries CChinaSurgical / Interventional SystemsSurgerii Technology is a developer of minimally invasive surgical robots.
Veo Robotics$14,000,000Series BUSASensors / Sensing Systems, SoftwareVeo Robotics provides solutions that enable high performance, collaborative industrial robotics.
Wenshi Robot$14,543,339Series AChinaIndoor Mobile Platforms, Other IndustrialWenshi Robot produces a variety of autonomous mobile robots for use in the logistics sector.
wheel.me$14,072,056OtherNorwayIndoor Mobile Platformswheel.me produces technologies that transforms anything into an autonomous mobile robot with minimal effort and without the need to alter its design or form.
WIRobotics$3,006,624SeedSouth KoreaExoskeletonsWIRobotics produces wearable robots that lessen physical demands on bodies while still allowing for active motion.
Xiangke Intelligence$5,808,044OtherChinaSoftwareXiangke Intelligence, a spinoff of Tsinghua University and Beijing University of Aeronautics and Astronautics, is developing AI enabled robotics systems.
Yunchuang ZhixingEstimateSeries AChinaOutdoor Mobile Platforms, SoftwareYunchuang Zhixing produces autonomous, outdoor sweeping vehicles and remote management control platforms.
Zanecon$14,442,935Series AChinaArticulated RobotsZanecon produces a variety of robotics solutions for the construction sector.
Zipline$330,000,000Series EUSADronesZipline designs, manufactures, and operates drones that deliver medical products.

U.S.-based robotics companies landed the most rounds (17) and funding ($514M) in April. Chinese and Swiss firms also received substantial funding ($104M and $165M, respectively). See Figure 1 below.

It should be noted that South Korea, an outlier having a single company receiving funding, was included in the ‘Other’ category. However, that company, 42dot, a provider of self-driving software and hardware solutions for autonomous transportation, received a substantial funding amount of $783 million. Other sizable April 2023 robotics investments include Zipline ($330 million), Distalmotion ($150 million), Covariant ($75 million), Carbon Robotics ($30 million), Phantom Auto ($25 million) and Robust.AI ($20 million).


April 2023 Robotics Investments

Figure 1: April 2023 Robotics Investment by Country


Early investments (Pre-Seed, Seed and A rounds) accounted for most of the investments (42%). In terms of investment amounts, rounds deemed ‘Other’ attached most of the funding dollars. A single Series C round (Zipline, $330M) accounted for 20% of April 2023’s funding totals.


April 2023 Robotics Investments

 

Figure 2: April 2023 Robotics Funding Amounts by Investment Type


April 2023 Robotics Investments

Figure 3: April 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 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.

About The Author

Dan Kara

Dan Kara is Vice President, Research & Analyst Services at WTWH Media. He can be reached at dkara@wtwhmedia.com.

Comments

  1. Ward Broom says

    June 1, 2023 at 9:26 am

    Dan,

    Thanks for this great information! I am the Robotics Catalyst at the Georgia Tech Incubator – The Advanced Technology Development Center. We have several companies that are raising if you are interested in learning more.

    Ward Broom
    ward.broom@atdc.org
    678-488-3988

    Reply

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