Robotics investments reach $620M in February 2023
Robotics funding for February 2023 totaled $620 million as the result of 36 investments. See Table 1 below or download Table 1 here. The February investments bring the 2023 total to approximately $1.14B. Investments in January 2023 totaled $521 million.
Companies offering unmanned aerial drones, usually coupled with drone-enabled data and analytics services, were particularly strong in February 2023, with firms receiving sizable mid- to late-stage funding rounds. These providers typically focus on surveying and inspection applications, with construction, agriculture, utilities and energy sectors as the target markets. Examples include Skydio ($230M Series E), Fulfil Solutions ($60M Series B), Garuda Aerospace ($22M Series A) and i-KINGTEC ($20M Series C). UK-based DRONAMICS landed $40M in Seed funding.
Table 1: February 2023 Robotics Funding and Investment
COMPANYAMOUNTTYPECOUNTRYTECH, PROD & SERVICESDESCRIPTION
AirGo$2,700,000SeedOmanOperator Services – Drones, Data Acquisition / Processing / ManagementAirGo offers drone operations services.
Aniai$3,000,000SeedUSAOther CommercialAniai has developed a robotic kitchen for quick service restaurants.
Apptronik$10,000,000OtherUSAHumanoids / BipedsApptronik builds and designs humanoid robotics systems.
Ascento$162,543GrantSwitzerlandIndoor Mobile Platforms, Outdoor Mobile PlatformsAscento offers a two-wheeled jumping robot designed for mixed environments.
AsylonEstimateSeries AUSAQuadrupeds, Outdoor Mobile PlatformsAsylon provides perimeter security solutions using quadrapedal robots and drones.
Aurrigo International$867,136GrantUKOutdoor Mobile Platforms, Autonomous Transportation Systems (Auto, Truck, Monorail etc.)Aurrigo offers self-driving autonomous vehicles for airport baggage cargo handling and passenger vehicles
CaPow$7,500,000SeedIsraelPower SuppliesCaPow offers a solution that provides contonious power to automated robotics fleets.
Deus Robotics$1,500,000SeedUkraineIndoor Mobile PlatformsDeus Robotics produces mobile robotics solutions for logistics operations.
DRONAMICS$40,000,000SeedUKDrones, Networking / Connectivity, Sensors / Sensing SystemsDRONAMICS provides unmanned aerial systems for commercial shipping and special cargo applications.
Fly X Aerospace$20,542SeedIndiaDrones, Operator Services – Drones, Data Acquisition / Processing / ManagementFly-x Aerospace provides design, development and customization solutions for Unmanned Aerial Vehicles (UAVs).
Fortem Technologies$17,800,000OtherUSADrones, Networking / Connectivity, Sensors / Sensing SystemsFortem Technologies provides airspace awareness, security, and defense solutions for detecting and defeating dangerous drones using distributed radar and autonomous drone capture.
Fulfil Solutions$60,000,000Series BUSAIndoor Mobile Platforms, SoftwareFulfil provides a robotic automation solution for grocery store and other retail e-commerce firms.
Garuda Aerospace$22,000,000Series AIndiaDrones, Operator Services – DronesGaruda Aerospace develops unmanned aerial vehicles and drones for the defense and aerospace sectors.
Huanzhi Technology$4,405,631OtherChinaForklift AGVs, Indoor Mobile PlatformsHuanzhi Technology offers integrated logistical solutions such as robots and unmanned control systems for industrial and dispatch vehicles.
i-KINGTECEstimateSeries CChinaDrones, Drones, Data Acquisition / Processing / Managementi-KINGTEC is a developer of intelligent industrial drone and UAV systems.
Indrones$847,475OtherIndiaDrones, Operator Services – Drones, SoftwareIndrones provides high-resolution data services solutions using drones for applications across many industries.
IVEX$2,442,238SeedBelgiumSoftware, Sensors / Sensing SystemsIVEX develops safety co-pilot technologies for autonomous cars.
Kinetic Technologies$175,000OtherUSAOther IndustrialKinetic Technologies is an engineering design and build firm that offers the RT1, a robot-controlled rotary table designed to maximize welding productivity.
Kiwibot$10,000,000OtherUSAOutdoor Mobile PlatformsKiwibot designs and manufactures a fleet of mobile robots used for food delivery on college campuses.
Linebird$75,000GrantUSADrones, Other, Data Acquisition / Processing / ManagementLinebird provides drone-based automation solutions for utilities.
Muniu Technology$14,361,213Series CChinaSensors / Sensing SystemsMuniu Technology is a provider of millimeter-wave radar intelligent system solutions for autonomous driving, smart transportation, and intelligent IoT.
Nanoflex Robotics$12,000,000Series ASwitzerlandSurgical / Interventional SystemsNanoflex Robotics, a spin-off from ETH Zurich, provides advancing robotic technologies for surgical interventions for the treatment of ischemic stroke.
Oinride Oy$16,208Pre-SeedFinlandOutdoor Mobile Platforms, SoftwareOinride Oy offers intelligent robots for operation in hazardous environments.
Orthopus$2,180,929SeedFranceRehabilitation / Therapeutic SystemsOrthopus produces robotic assistive devices for arm mobility.
Passion IntelligenceEstimateSeries BChinaIndoor Mobile Platforms, Automated Guide VehiclesPassion Intelligence is a provider of automated robotic solutions and services for warehousing, logistics, and manufacturing processes.
PuduTech$15,000,000Series CChinaIndoor Mobile PlatformsPuduTech offers autonomous delivery robots for the home care, food service, and catering industries.
Skydio$230,000,000Series EUSADrones, Software, Sensors / Sensing SystemsSkydio produces drone and enabling technologies that are used by consumer, enterprise, and government customers.
sliQue RoboticsEstimateSeedUSAIndoor Mobile PlatformssliQue Robotics develops mobile robots and other technologies for various commercial sectors.
SwarmFarm Robotics$8,384,636Series AAustraliaOutdoor Mobile PlatformsADAMA offers robotics platforms for efficient and sustainable agriculture.
TETRA ELCEstimateSeries BChinaIndoor Mobile Platforms, Outdoor Mobile PlatformsTETRA ELC is a manufacturer of robotic equipment that provides robotics sensing, operation and maintenance solutions for the energy industry.
ThayerMahan$30,549,982OtherUSAUnmanned Underwater Vehicles, Unmanned Surface VehiclesThayerMahan is a provider of marine robotic solutions for the government and industry.
Third Wave Automation$15,000,000OtherUSASensors / Sensing Systems, ControllersThird Wave Automation offers a controls and sensor package that can retrofit existing fork trucks making them autonomous or controlled remotely.
Toggle Robotics$3,000,000Series AUSAArticulated Robots, SoftwareToggle Robotics uses robotics hardware, software, and services to automate the pre-assembly of construction materials.
ZD Medtech$14,592,149Series BChinaRehabilitation / Therapeutic SystemsZD Medtech is a company specializing in the development and application of intelligent rehabilitation robots.
Zeabuz$1,947,089OtherNorwayUnmanned Surface Vehicles, Operator Services – USVsZeabuz offers autonomy-as-a-service platform to urban ferry operators.
Zeitview (formerly DroneBase)$55,000,000Series EUSADrones, Operator Services – Drones, Data Acquisition / Processing / ManagementZeitview is a data analytics provider that via aerial drone services.
Companies located in the USA received the most rounds (14) and the most funding ($436M), dwarfing other countries (Figure 1). Investment into Chinese firms came in at a distant second (7 rounds for a total of $81M).
Figure 1: February 2023 Robotics Investment by Country
All funding types were well represented in February 2023 (Figure 2). Series E rounds accounted for the bulk of the funding amounts, buoyed by investments into drone data services providers Zeitview (formerly DroneBase) and Skydio, at $55M and $230M, respectively (Figure 3).
Figure 2: February 2023 Robotics Funding Amounts by Investment Type
Figure 3: February 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.
The post Robotics investments reach $620M in February 2023 appeared first on The Robot Report.
