Plus One Robotics plans to use the funds for its ongoing expansion in the US and Europe. Here are the top-line bullets you need to know.
Plus One Robotics, which focuses on making vision software for warehouse robots, has raised $33M in Series B funding from investors including Lerer Hippeau Ventures, Pritzker Group Venture Capital, and TransLink Capital.
How’s the company performing?
- San Antonio-based Plus One Robotics develops computer vision software for logistics robots. Each worker can manage up to 50 robots remotely.
- Plus One Robotics has raised a total of $41.3M.
- Its partners include Attabotics, Yaskawa, Dematic, and Pearson, among others.
Source: Plus One Robotics
Why does the market matter?
- The robotics technology market is growing at a CAGR of 13.5% and is expected to reach $189B by 2027, according to Allied Market Research.
- The rising need for safety coupled with advancements in robotics technology and reduced costs is driving industry growth.
- Major players are investing in advancing robotics technology. In May 2020, ABB launched its IRB 390 FlexPacker packaging robot while BMW partnered with Nvidia to venture into the factory logistics robots space.
