Bay Area-based Rapid Robotics today announced a $ 12 million Series A. The new round, led by NEA, brings the company’s total funding to $ 17.5 million. It recently appeared in the closed seed round, announced back in November last year. Existing investors Grecroft, B Partners and 468 Capital also participated in the round.
We noted at that stage that COVID-19 had a significant impact on robotics investment. At the very least, the epidemic has served to intensify interest in automation, as many “non-essential” workers are unable to travel to their jobs. Currently, manufacturing jobs often lack the ability to perform remotely.
Increasingly note that the company’s technology has been associated with the production of about 50 million parts over the past several years, with a wide variety of different manufacturing verticals. And, like his predecessor, President Biden has already begun to formulate a strategy to scale back manufacturing jobs in the US, ambitious as it may be, in any scheme to strike a balance between human jobs and automation The work is going to be done.
The company notes a long-term issue with human operators in these roles. “If we do not solve this problem, American manufacturers will not be able to compete in the global market,” CEO Jordan Krachmer said in a release. “It’s really that easy.”
The main value of Rapid is ease of use here. The company makes systems designed to get up and running quickly.