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![March 2024 robotics investments fell from the prior month.](https://www.therobotreport.com/wp-content/uploads/2024/04/March_2024_Invest-Feature-copy.jpg)
Chinese language and U.S. corporations led March 2024 robotics investments. Credit score: Eacon Mining, Dan Kara
Thirty-seven robotics companies obtained funding in March 2024, pulling in a complete month-to-month funding of $642 million. March’s funding determine was considerably lower than February’s mark of roughly $2 billion, nevertheless it was consistent with different month-to-month investments in 2023 and early 2024 (see Determine 1, beneath).
California corporations safe funding
As described in Desk 1 beneath, the 2 largest robotics investments in March had been secured by software program suppliers. Utilized Instinct, a supplier of software program infrastructure to deploy autonomous automobiles at scale, obtained a $250 million Collection E spherical, whereas Bodily Intelligence, a developer of basis fashions and different software program for robots and actuated gadgets, attracted $70 million in a seed spherical. Each companies are positioned in California.
Different California companies receiving substantial rounds included Bear Robotics, a producer of self-driving indoor robots that raised a $60 million Collection C spherical, and unmanned aerial system (UAS) developer Firestorm, whose seed funding was $20 million. For a PDF model of Desk 1, click on right here.
March 2024 robotics investments
CompanyAmount ($)RoundCountryTechnology
Agilis Robotics10,000,000Series AChinaSurgical/interventional programs
AloftEstimateOtherU.S.Drones, knowledge acquisition / processing / administration
Utilized Intuition250,000,000Series EU.S.Software program
Automated Architecture3,280,000EstimateU.Ok.Micro-factories
Bear RoboBear Roboticstics60,000,000Series CU.S.Indoor cell platforms
BIOBOT Surgical18,000,000Series BSingaporeSurgical programs
Buzz Solutions5,000,000OtherU.S.Drone inspection
Cambrian Robotics3,500,000SeedU.Ok.Machine imaginative and prescient
Coctrl13,891,783Series BChinaSoftware
DRONAMICS10,861,702GrantU.Ok.Drones
Eacon Mining41,804,272Series CChinaAutonomous transportation, sensors
ECEON RoboticsEstimatePre-seedGermanyAutonomous forklifts
ESTAT AutomationEstimateGrantU.S.Actuators / motors / servos
Fieldwork Robotics758,181GrantU.Ok.Out of doors cell manipulation platforms, sensors
Firestorm Labs20,519,500SeedU.S.Drones
Freespace RoboticsEstimateOtherU.S.Automated storage and retrieval programs
Collect AI17,000,000Series AU.S.Drones, software program
Glacier7,700,000OtherU.S.Articulated robots, sensors
IVY TECH Ltd.421,435GrantU.Ok.Out of doors cell platforms
KAIKAKUEstimatePre-seedU.Ok.Collaborative robots
KEF RoboticsEstimateGrantU.S.Drone software program
Langyu RobotEstimateOtherChinaAutomated guided automobiles, software program
Linkwiz2,679,725OtherJapanSoftware
MotionalEstimateSeedU.S.Autonomous transportation programs
Orchard Robotics3,800,000Pre-seedU.S.Crop administration
Sample Labs8,499,994OtherU.S.Indoor and out of doors cell platforms
Bodily Intelligence70,000,000SeedU.S.Software program
PiximoEstimateGrantU.S.Indoor cell platforms
Preneu11,314,492Series BKoreaDrones
QibiTech5,333,884OtherJapanSoftware, operator companies, uncrewed floor automobiles
Rapyuta RoboticsEstimateOtherJapanIndoor cell platforms, autonomous forklifts
RIOS Clever Machines13,000,000Series BU.S.Machine imaginative and prescient
RITS13,901,825Series AChinaSensors, software program
Robovision42,000,000OtherBelgiumComputer imaginative and prescient, AI
Ruoyu Technology6,945,312SeedChinaSoftware
Sanctuary Cognitive SystemsEstimateOtherCanadaHumanoids / bipeds, software program
SeaTrac Systems899,955OtherU.S.Uncrewed floor vessels
TechMagic16,726,008Series CJapanArticulated robots, sensors
Thor PowerEstimateSeedChinaArticulated robots
Viam45,000,000Series BGermanySmart machines
WIRobotics9,659,374Series AS. KoreaExoskeletons, client, residence healthcare
X SquareEstimateSeedU.S.Software program
YindatongEstimateSeedChinaSurgical / interventional programs
Zhicheng PowerEstimateSeries AChinaConsumer / family
Zhongke HuilingEstimateSeedChinaHumanoids / bipeds, microcontrollers / microprocessors / SoC
Drones get gasoline for takeoff in March 2024
Suppliers of drones, drone applied sciences, and drone companies additionally attracted substantial particular person investments in March 2024. Examples included Firestorm and Collect AI, a developer of stock monitoring drones whose Collection A was $17 million.
As well as, drone companies supplier Preneu obtained $11 million in Collection B funding, and DRONAMICS, a developer of drone expertise for cargo transportation and logistics operations, received a grant value $10.8 million.
Corporations in U.S. and China obtained the vast majority of the March 2024 funding, at $451 million and $100 million, respectively (see Determine 2, beneath).
Corporations primarily based in Japan and the U.Ok. had been additionally effectively represented among the many March 2024 funding totals. 4 corporations in Japan secured a complete of $34.7 million, whereas an equal variety of companies within the U.Ok. attracted $13.5 million in funding.
Almost 40% of March’s robotics investments got here from a single Collection E spherical — that of Utilized Instinct. The remaining funding courses had been all represented in March 2024 (Determine 3, beneath).
Editor’s notes
What defines robotics investments? The reply to this easy query is central in any try and quantify them with a point of rigor. To make funding analyses constant, repeatable, and beneficial, it’s vital to wring out as a lot subjectivity as doable in the course of the analysis course of. This begins with a definition of phrases and an outline of assumptions.
Buyers and investing
Funding ought to come from enterprise capital companies, company funding teams, angel buyers, and different sources. Buddies-and-family investments, authorities/non-governmental company grants, and crowd-sourced funding are excluded.
Robotics and clever programs corporations
Robotics corporations should generate or anticipate to generate income from the manufacturing of robotics merchandise (that sense, analyze, and act within the bodily world), {hardware} or software program subsystems and enabling applied sciences for robots, or companies supporting robotics gadgets. For this evaluation, autonomous automobiles (together with applied sciences that help autonomous driving) and drones are thought-about robots, whereas 3D printers, CNC programs, and numerous kinds of “arduous” automation are usually not.
Corporations which are “robotic” in title solely, or use the time period “robotic” to explain services and products that don’t allow or help gadgets performing within the bodily world, are excluded. For instance, this consists of “software program robots” and robotic course of automation. Many companies have a number of places in numerous nations. Firm places given within the evaluation are primarily based on the publicly listed headquarters in authorized paperwork, press releases, and so forth.
Verification
Funding info is collected from a number of private and non-private sources. These embrace press releases from companies and funding teams, company briefings, market analysis companies, and affiliation and trade publications. As well as, info comes from periods at conferences and seminars, in addition to throughout non-public interviews with trade representatives, buyers, and others. Unverifiable investments are excluded and estimates are made the place funding quantities are usually not supplied or are unclear.