Soft Robotics Inc (SRI) has successfully raised US$26 million in an initial Series C closing and will use the funds to expand commercial deployment of its mGripAI robotic picking solutions, as an easy-to-integrate automation package that combines 3D vision and artificial intelligence technologies with soft grasping to lend industrial robots human-like hand-eye coordination.
The Series C was led by Tyson Ventures, capital arm of Tyson Foods and brings new investors Marel and Johnsonville. SRI reported that it closed the first $26 million with participation from new investors and strong participation from existing investors.
“We’re delighted that some of the world’s leaders in the food production and automation markets have decided to join existing investors in supporting SRI’s continuing growth journey,” explained Jeff Beck, Chief Executive Officer of Soft Robotics. “SRI’s technologies are increasingly crucial to enabling and scaling efficient and safe production of several food categories. This round of growth capital strengthens SRI’s ability to rapidly develop, deploy and support those technologies.”
“For decades, food producers have been unable to adopt industrial robot arms to automate their most labor-intensive, bulk production processes,” added Mark Chiappetta, Chief Operating Officer of Soft Robotics. “Finally, there is a solution! mGripAI, with its revolutionary perception and AI, unlocks the use of industrial robots in nearly all stages of food production increasing throughput, improving food quality, reducing facility footprint, and breaking the critical dependency on labour.”
Companies such as Tyson Foods and Johnsonville are banking on adoption of robotic automation to help improve safety and increase production in their facilities to meet demand for high quality and safe products.
“For decades, food producers have been unable to adopt industrial robot arms to automate their most labor-intensive, bulk production processes,” said Mark Chiappetta, Chief Operating Officer of Soft Robotics. “Finally, there is a solution! mGripAI, with its revolutionary perception and AI, unlocks the use of industrial robots in nearly all stages of food production increasing throughput, improving food quality, reducing facility footprint, and breaking the critical dependency on labour.”
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