Fetch Robotics recently announced it raised $3 million in Series A financing from O'Reilly AlphaTech Ventures (OATV) and Shasta Ventures. According to the company's press release, "Fetch Robotics will use the funding to bring their inaugural robots to market. The robots will provide solutions for the logistics and light industrial markets, as well as for other human-robot collaboration opportunities."
In other words, Fetch Robotics is targeting the logistics market by not only creating robots but also robotic systems to facilitate fulfillment. Fetch Robotics indicated that the price of the robots would be "tens of thousands of dollars, not hundreds of thousands." The lower price point combined with advances in actuators, processors, and machine vision could make robots affordable and useful for both large fulfillment centers and small businesses.
Fetch Robotics and 6 Competitors Pioneering the Next Wave of Evolutionary Robotics
At DataFox, we compile and curate lists of companies across sectors, regions, and industries (e.g., Robotics). Below are featured Fetch Robotics and 7 other private companies pioneering the next level of evolutionary robotics:
Fetch is targeting light-industrial users. Fetch’s human-sized robots are mobile and can perform tasks like locating items in warehouses and preparing these items for shipment. The first batch of Fetch robots will be programmed to do a range of basic tasks, but the company plans to develop more advanced apps which customers could purchase and customize separately.
- Location: San Jose, CA
- Total Funding: $3 million
- Recent Funding: $3 million in February 2015
- Investors: Shasta Ventures; OATV
Rethink Robotics, Inc. helps manufacturers meet the challenges of an agile economy with an integrated workforce, combining trainable, safe and cost-effective robots with skilled labor. Its Baxter robot, driven by Intera, an advanced software platform, optimizes logistics for manufacturers and distributors in automotive, plastics, consumer goods, electronics and more.
- DataFox Score: 1063
- Location: Boston, MA
- Total Funding: $126.7 million
- Recent Funding: $26.6 million in January 2015
- Investors: Sigma Partners; Draper Fisher Jurvetson; Highland Capital Partners; Bezos Expeditions; Two Sigma Ventures; Charles River Ventures; Goldman Sachs; GE Ventures
Romotive combines smartphones with a mobile base to power robots utilizing telepresence, autonomous navigation, and machine vision. The companies' first product, Romo, is an iDevice-powered robot that allows the user to video chat with anyone, anywhere in the world.
- DataFox Score: 1002
- Location: Nashville, TN
- Total Funding: $12.11 million
- Recent Funding: $5 million in January 2014
- Investors: Visionnaire Ventures
Savioke, (pronounced "savvy oak") is creating autonomous robot helpers for the services industry. The company aims to deliver easy-to-use yet sophisticated robots for everyday purposes.
- DataFox Score: 936
- Location: Sunnyvale, CA
- Total Funding: $2 million
- Recent Funding: $2 million in April 2014
- Investors: Visionnaire Ventures; Felicis Ventures; Morado Venture Partners; Google Ventures; AME Cloud Ventures
Grey Orange is a hi-tech warehousing automation venture, making innovative products for materials handling. The company's flagship product is the Butler System, a fleet of mobile robots that are revolutionizing order fulfillment inside a warehouse.
- Location: Gurgaon, Haryana
- Total Funding: Unknown
- Recent Funding: Unknown in April 2014
- Investors: Blume Ventures; Tiger Global Management
Novocaptis Cognitive Systems & Robotics is a high-tech company focused on the research and development of artificial intelligence technologies and robotics. The company provides technical consulting services to assist private and public organizations to define, specify, implement, test, and deploy selected technological solutions. These services include financial and technical development, evaluation of business plans, and development of technical roadmap strategies. The companies' strategy is based on developing new and expanding current competencies in three core areas of interest: Robotic Embodiments, Sensor Technology and Monitoring Applications and Intelligent and Cognitive Systems. Novocaptis Cognitive also has participated in research programs such as Darwin Project and ATLAS EXPERIMENT.
- Location: Thessaloníki, Thessaloniki GRC
- Total Funding: Unknown
Neato Robotics is a venture-funded start-up based in Newark, California, developing robotic-based household appliances. The first product, a robotic vacuum cleaner with intelligent navigation was released in 2010. The company sells its products through brick-and-mortar and online retailers worldwide.
- DataFox Score: 1009
- Location: Newark, CA
- Total Funding: $43.84 million
- Recent Funding: $26.2 million in April 2012 and August 2013
- Investors: Noventi Ventures; Vorwerk Direct Selling
DataFox assists investors, analysts, and other users in discovering new trends through DataFox's visualization tools. Below is a graph of investor co-occurrence between the aforementioned 7 robotics companies. The investor co-occurrence graph shows that Highland Capital Partners participated in the $11.5 million funding round for Rethink Robotics, along with Sigma Partners, CRV, Charles River Ventures, Two Sigma Ventures, GE Ventures, and Goldman Sachs.