Standard Bots Inc. Secures $63 Million in Funding for Robotic Arm Development
Standard Bots Inc. Secures $63 Million in Funding to Enhance Robotic Arm Technology
Standard Bots Inc., a startup specializing in robotic arms for the manufacturing and logistics sectors, has announced a successful Series B funding round, raising $63 million to further develop its technology. The funding was led by General Catalyst, with participation from the Amazon Industrial Innovation Fund, Samsung Next, and several returning backers.
The company’s flagship product, the RO1 robotic arm, priced at $37,000, boasts impressive capabilities. With the ability to lift up to 40 pounds and a reach of about four feet, the RO1 comes with a portable base that eliminates the need for embedding the robot into a factory floor’s concrete, reducing installation costs.
Equipped with a built-in graphics processing unit, the RO1 utilizes artificial intelligence models to navigate unexpected challenges and adapt to production line changes. The onboard AI simplifies the process of teaching the system new tasks, offering a no-code interface for programming and learning through demonstration.
Standard Bots CEO Evan Beard emphasized the company’s mission to make advanced, adaptable robots accessible to all, revolutionizing the traditional approach to robotics projects. The RO1 can perform various manufacturing tasks such as welding, sanding, and polishing, as well as feeding raw materials into CNC machines.
Beyond the manufacturing sector, Standard Bots envisions applications for its robotic arms in logistics, enabling automated packaging and product handling. The company plans to use the newly raised capital to develop a new generation of robotic arms, hinting at expanded capabilities and sizes.
Additionally, Standard Bots aims to enhance its software with a new AI model leveraging the Transformer neural network architecture, promising to enhance robotic capabilities for customers. The company’s commitment to innovation and accessibility in robotics technology positions it as a key player in the industry.
With the support of investors and a clear vision for the future, Standard Bots is poised to continue pushing the boundaries of robotic arm technology and revolutionize the manufacturing and logistics sectors.
