BEDFORD,
Mass., Nov. 17, 2022 /PRNewswire/ -- Soft
Robotics Inc. (SRI) announced today that it raised $26M in an initial Series C closing and will use
the funds to expand commercial deployment of its mGripAI™
robotic picking solutions. mGripAI is an easy-to-integrate
automation package that combines ultra-fast 3D vision and
artificial intelligence technologies with patented and proven,
IP69K-rated, soft grasping to give industrial robots the hand-eye
coordination of humans. This unprecedented combination of robotic
"hands," "eyes," and "brains" enables, for the first time, the use
of high-speed industrial arms to automate bulk picking processes
throughout protein, produce, dairy, baked goods, and prepared foods
operations.
Soft Robotics has experienced a rapid surge
in demand for its solutions and has delivered the four largest
sales quarter
Soft Robotics' Series C was led by Tyson Ventures, the venture
capital arm of Tyson Foods (NYSE:TSN), and brings new investors,
Marel (AEX:MAREL) and Johnsonville, into SRI's powerful investor
syndicate. SRI reported that it closed the first $26M of an undisclosed-size round with
participation from these 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," said
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," 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 labor."
Companies such as Tyson Foods and Johnsonville, are betting on
adoption of robotic automation to help improve safety and increase
production in their facilities to meet the demand for high quality,
safe and nutritious protein products. Both companies are existing
users of Soft Robotics solutions.
"At Tyson, we are continually exploring new areas in automation
that can enhance safety and increase the productivity of our team
members," said Rahul Ray, Senior
Director of Tyson Ventures. "Soft Robotics' revolutionary robotic
technology, computer vision and AI platform have the potential to
transform the food industry and will play a key role in any
company's automation journey."
"We're excited to be extending our partnership with Soft
Robotics and adding investor to our existing customer
relationship," said Kevin Ladwig,
Managing Director of Johnsonville Ventures. "We believe Soft
Robotics offers best-in-class pick and place systems which are
applicable to numerous primary and secondary processing
operations. Applications that reduce repetitive motion and
improve employee safety, in addition to enhancing productivity, are
welcomed improvements for any operation."
A global increase in demand for quality and sustainably produced
food, at a time of worsening labor scarcity, is causing food
producers to struggle with supply, further intensifying the
pressure to automate. As a result, Soft Robotics has experienced a
rapid surge in demand for its solutions and has delivered the four
largest sales quarters in the company's eight-year history.
About Soft Robotics
Soft Robotics is an industry-leading technology company that
designs and builds automated, high-speed picking solutions using
proprietary soft robotic grippers, 3D machine vision, and
artificial intelligence. The company's transformational robotic
solutions enable system integrators and OEM machinery builders to
offer solutions that automate some of the most challenging bulk
processes found in food production. Learn more
at www.softroboticsinc.com.
Soft Robotics is backed by leading corporate and financial
investors that include ABB, Calibrate Ventures, FANUC,
Johnsonville, Marel, Material Impact, Scale Venture Partners,
Tekfen and Tyson.
Media and General Inquiries:
Julie Collura
Director, Marketing Communications
jcollura@softroboticsinc.com
Investment/partnership inquiries:
Mark Chiappetta
Chief Operating Officer
mchiappetta@softroboticsinc.com
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SOURCE Soft Robotics Inc.