With an explosion of ecommerce, automation at warehouses have significantly increased over the years. With robots in place, one needs to also take care of the co-existence of humans and robots and their safety.
That’s where Veo Robotics chips in. It basically comes up with software solutions designed to help humans and robots coexist in a working space.
The Massachusetts-based startup has now raised a total of $29M in Series B funding which includes $15M secured in 2022.
The funding round was backed by Amazon Industrial Innovation Fund, Safar Partners, and Yamaha Motor Ventures.
Notably, Amazon Industrial Innovation Fund’s main focus has been robotics and its first wave of investments featured Agility Robotics, BionicHIVE and Mantis Robotics.
Ensuring safety of robots and humans
The funds will be used to drive the company’s goal of collaborating with chosen business partners to deliver a new class of efficient and collaborative human-in-the-loop robotic solutions powered by its unique safety technology.
“The newest generation of intelligent robotic systems work with people, not separately from them,” said Clara Vu, co-founder and CTO of Veo. “Unlocking this potential requires a new generation of safety systems – this is Veo’s mission, and we’re very excited to be taking this next step.”
“With the increased need for efficiency improvement in industrial environments, we’ve seen increasing requirements for safe robot operation in the close presence of humans. These integrated workflows involving both robots and employees provide maximum flexibility and ROI for our customers in manufacturing and logistics,” said Patrick Sobalvarro, co-founder and CEO of Veo Robotics. “We’re working closely with select customers who share our vision for the future of automation. This funding enables us to add a few more partners to our early-adopter program.”
Matt Peterson, Director at Amazon’s Industrial Innovation Fund, said, “As investors, we were drawn to Veo Robotics’ focus on safety in the workplace. Their technology is both collaborative and effective, prioritizing employee wellbeing. We are excited to support Veo Robotics and their vision to design innovative and human-centric robotics.”
Arunas Chesonis, Managing Director at Safar Partners, said, “We’re thrilled to invest in Veo Robotics, a company that has positioned itself at the forefront of the rapidly expanding robotics industry. Veo’s innovative technology, which allows for safe and seamless collaboration between humans and robots, has the potential to revolutionize a wide range of industries. We’re particularly excited about the company’s growth potential, as it expands its capabilities and reaches new markets. With its experienced leadership team and talented engineering staff, we believe that Veo Robotics is well positioned to become a key player in the robotics space, and we’re eager to support its continued growth.”
Veo Robotics, founded in 2016 by Patrick Sobalvarro, Clara Vu, and Scott Denenberg, is a pioneer in intelligent robot protection. Its main product, FreeMove, is a 3D intelligent safeguarding system with functional safety certification to Performance Level D, allowing people to collaborate closely with the whole spectrum of conventional industrial robots from FANUC, Yaskawa Motoman, ABB, Kawasaki, and Kuka.
Veo Robotics’s competitors include Fort Robotics, Dierre, AIRSKIN, Roboworld.
