Robotics investments top $1.63B in April 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
| Company | Amount | Round | Country | Tech-Prod-Service | Description |
|---|---|---|---|---|---|
| 42dot | $782,791,615 | Other | South Korea | Autonomous Transportation Systems | 42dot offers self-driving software and hardware solutions that enable and support autonomous mobility. |
| aiEndoscopic | $557,040 | Seed | Switzerland | Surgical / Interventional Systems | aiEndoscopic is developing robotics systems for endoscopic tracheal intubation. |
| allocortech | $75,000 | Grant | USA | Actuators / Motors / Servos, Controllers | Allocortech provides products for avionics, control systems, and general embedded systems for UAS and UAM aircraft applications. |
| ARTIAL | $120,000 | Pre-Seed | USA | Operator Services, Data Acquisition / Processing / Management | ARTIAL provides drone-based inspection solutions for the construction, energy, and infrastructure sectors. |
| Baraja | Estimate | Other | Australia | Sensors / Sensing Systems | Baraja produces LiDAR technologies for self-driving vehicles. |
| Bottobo | $1,000 | Seed | Turkey | Indoor Mobile Platforms | Bottobo produces fully automated and self-contained warehouse robots and intelligent systems. |
| Carbon Robotics | $30,000,000 | Series C | USA | Outdoor Mobile Platforms, Sensors / Sensing Systems | Carbon Robotics develops robots for agriculture-related applications. |
| Covariant | $75,000,000 | Series C | USA | Software, Sensors / Sensing Systems | Covariant provides a number of software solutions that automate pick-and-place processes at warehouses and fulfillment centers. |
| Crow Industries | $120,000 | Pre-Seed | USA | Outdoor Mobile Platforms | Crow Industries provides robotics enabled geomatics services to the mining industry. |
| Daedalean | Estimate | Grant | Switzerland | Software, Sensors / Sensing Systems | Daedalean is building autonomous piloting software systems for aerial mobility. |
| Delivery One | $6,374,924 | Other | Turkey | Drones, Operator Services | Delivery One provides last-mile delivery solutions using drones and other technologies.d quality. |
| Distalmotion | $150,192,209 | Other | Switzerland | Surgical / Interventional Systems | Distalmotion produces a surgical robot called Dexter. |
| Embotech | Estimate | Grant | Switzerland | Software | Embotech provides software solutions that enable driverless mobility. |
| Hydromea | Estimate | Grant | Switzerland | Unmanned Underwater Vehicles | Hydromea provides underwater drones for submerged asset inspections. |
| Infcom | $14,543,339 | Series B | China | Actuators / Motors / Servos | Infcom Industrial produces servo drives, servo motors, and related software. |
| infiniDome | $9,000,000 | Series A | Israel | Sensors / Sensing Systems, Networking / Connectivity | infiniDome develops GPS protection solutions for drones. |
| iotaMotion | $8,509,999 | Other | USA | Surgical / Interventional Systems | IotaMotion is developing robotics-assisted solutions for cochlear implant surgery. |
| Keybotic | $3,309,479 | Seed | Spain | Quadrupeds | Keybotic is a designer and manufacturer of autonomous four-legged robots for monitoring, inspecting, and mapping of complex environments. |
| Kind Humanoid | $150,000 | Pre-Seed | USA | Humanoids / Bipeds | Kind Humanoid is developing intelligent humanoid robots. |
| Kuxun Intelligent | Estimate | Series A | China | Indoor Mobile Platforms, Automated Guide Vehicles, Autonomous Forklifts | Kuxun Intelligent produces a variety of mobile robots for warehousing operations. |
| Leial Technologies | Estimate | Other | Spain | Articulated Robots, Educational / Kits | Leial Technologies is an educational robotics supplier. |
| LogiXair | Estimate | Other | The Netherlands | Drones, Operator Services | LogiXair provides unmanned aircraft based logistics using autonomous flying cargo systems. |
| Lukai Zhixing | Estimate | Series A | China | Outdoor Mobile Platforms, Autonomous Transportation Systems | Lukai Zhixing is a unmanned vehicle solution provider focused on the field of smart mining operations. |
| May Mobility | $3,000,000 | Grant | USA | Autonomous Transportation Systems, Sensors / Sensing Systems, Software | May Mobility provides autonomous vehicle technology for commercial fleets. |
| Nanoflex Robotics | Estimate | Grant | Switzerland | Surgical / Interventional Systems | Nanoflex Robotics provides robotics solutions for the treatment of ischemic stroke. |
| Naurobotics | $3,036,698 | Series A | South Korea | Articulated Robots, SCARA Robots, End Effectors | Naurobotics offers robotic automation systems and griping technology. |
| Padbot Telepresence | Estimate | Series B | China | Indoor Mobile Platforms | Padbot Robot, a service robot brand of Inbot Tech, produces a number of commercial delivery robots, security patrol robots, and cleaning and disinfection robots. |
| ParaWave | Estimate | Grant | USA | Drones | ParaWave is developing drone technology to assist first responders. |
| Perceptual Robotics | $3,355,558 | Other | City of | Drones, Operator Services, Data Acquisition / Processing / Management | Perceptual Robotics offers drone based inspection services for wind turbine inspection and other infrastructure applications. |
| Perceptyne Robots | $723,563 | Seed | India | Humanoids / Bipeds, Arms/Manipulators | Perceptyne Robots is developing dexterous robotics systems that can automatate various industrial tasks. |
| Phantom Auto | $25,000,000 | Other | USA | Operator Services | Phantom Auto offers teleoperation safety solutions and remote operations for logistics vehicles. |
| Propeller Aero | $15,272,472 | Other | Australia | Drones, Operator Services, Data Acquisition / Processing / Management | Propeller provides drone-mapping and analytics solutions for worksite operations. |
| Reakto | $1,163,022 | Seed | Poland | Operator Services, Data Acquisition / Processing / Management | Reakto is a manufacturer and operator of UAV systems that provide securiy services. |
| Roboto AI | $4,800,000 | Seed | USA | Data Acquisition / Processing / Management | Roboto AI provides technology that accelerates the search, transformation, and analysis of robotics data. |
| Robust.AI | $20,000,000 | Series A | USA | Indoor Mobile Platforms, Software, Sensors / Sensing Systems | Robust.AI manufactures robots for warehouse operations. |
| Rogue Space Systems | Estimate | Other | USA | Other Commercial | Rogue Space Systems develop robots to deliver services solutions to satellite operators, manufacturers and insurers. |
| SensorSurf | $500,000 | Pre-Seed | USA | Data Acquisition / Processing / Management, Software | Snowflake offers softwar for collecting, manipulationing and analyzing robotics data. |
| Sniffer Robotics | $2,000,000 | Seed | USA | Exoskeletons | Sniffer Robotics provides the municipal solid waste industry drone base services for methane gas detection and analysis. |
| Surgerii Technology | Estimate | Series C | China | Surgical / Interventional Systems | Surgerii Technology is a developer of minimally invasive surgical robots. |
| Veo Robotics | $14,000,000 | Series B | USA | Sensors / Sensing Systems, Software | Veo Robotics provides solutions that enable high performance, collaborative industrial robotics. |
| Wenshi Robot | $14,543,339 | Series A | China | Indoor Mobile Platforms, Other Industrial | Wenshi Robot produces a variety of autonomous mobile robots for use in the logistics sector. |
| wheel.me | $14,072,056 | Other | Norway | Indoor Mobile Platforms | wheel.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 | $3,006,624 | Seed | South Korea | Exoskeletons | WIRobotics produces wearable robots that lessen physical demands on bodies while still allowing for active motion. |
| Xiangke Intelligence | $5,808,044 | Other | China | Software | Xiangke Intelligence, a spinoff of Tsinghua University and Beijing University of Aeronautics and Astronautics, is developing AI enabled robotics systems. |
| Yunchuang Zhixing | Estimate | Series A | China | Outdoor Mobile Platforms, Software | Yunchuang Zhixing produces autonomous, outdoor sweeping vehicles and remote management control platforms. |
| Zanecon | $14,442,935 | Series A | China | Articulated Robots | Zanecon produces a variety of robotics solutions for the construction sector. |
| Zipline | $330,000,000 | Series E | USA | Drones | Zipline 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).
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.
Figure 2: April 2023 Robotics Funding Amounts by Investment Type
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.
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