Collaborative Robotics (Cobot), a developer of cobots, closed its Series B funding round, securing $100 million. The round was led by General Catalyst, a venture capital firm with a history of technology investments. New investors Bison Ventures, Industry Ventures, and Lux Capital joined the round.
Existing investors, including Sequoia Capital, Khosla Ventures, and Mayo Clinic, also participated, bringing the total funding to over $140 million in less than two years.
Earlier this year we wrote a feature piece on “Will robots rule the battlefield? The global AI arms race and its impact on our lives.” You can give it a read. Also, recently we reported about Skype’s co-founder-led Starship Technologies, which raised $90M to make delivery robots with 99% autonomy rate even better.
Leadership team for real-world deployments
Founded in 2022 by Brad Porter, a former Amazon Robotics VP and Distinguished Engineer, Cobot has assembled a team of experts in robotics and artificial intelligence (AI) from companies like Amazon, Apple, Meta, Google, and Microsoft. The new capital injection will enable Cobot to further expand its team and accelerate the deployment of its cobots in real-world settings. Paul Kwan, Managing Director at General Catalyst, will join Alfred Lin of Sequoia Capital on Cobot’s Board of Directors. The startup also announced Teresa Carlson has joined the board as an advisor.
“During my time at Amazon, I had the opportunity to collaborate with Brad on several transformative projects,” said Teresa Carlson. “I am thrilled to reunite with Brad and General Catalyst to contribute to the transformation and scaling of industrial automation for businesses worldwide.”
Collaborative Robots: Efficiency, safety, and return on investment
Cobots have the potential to significantly impact industrial automation by increasing efficiency, safety, and return on investment (ROI) in various sectors like manufacturing, healthcare, and retail/e-commerce. Compared to complex humanoids, cobots offer broader utility at a lower cost. These robots work alongside humans to improve productivity and reduce operational costs.
Cobots combine automation with human problem-solving skills, streamlining workflows, reducing strain on employees, and minimizing errors. This translates to better product quality, safer workplaces, and optimized processes. As businesses seek operational efficiency, cobots offer scalability and cost savings, proving to be valuable tools for maintaining competitiveness and driving innovation in modern industry.
Investors recognize Cobot’s potential and responsible approach
“In our view, Brad and Cobot are at the forefront of human-robot interaction,” stated Paul Kwan of General Catalyst. “Their practical approach to developing user-friendly, versatile cobots will accelerate the transformation of industrial automation. We believe Cobot’s team possesses the expertise to build the necessary hardware, software, and institutional trust to realise their vision. Furthermore, their focus on user partnerships and thoughtful design aligns perfectly with General Catalyst’s commitment to Responsible Innovation.”
“We are witnessing the initial stages of a massive shift where AI is driving productivity in both the digital and physical world,” remarked Alfred Lin, Partner at Sequoia Capital. “Collaborative Robotics is well-positioned to lead in this space. Brad and his team bring a unique blend of hardware, software, and AI expertise, combined with experience in operating and driving change within some of the world’s largest logistics networks. We are excited to be partners in this transformation.”
What do we think about the startup
Cobot envisions a world where cobots seamlessly integrate across various fields, including manufacturing, logistics, healthcare, and municipal services. The Series B funding round shows the company’s strides in developing practical cobots. With a strong team, experienced leadership, and a commitment to responsible innovation, Cobot is well-positioned to accelerate the deployment of Cobots and change human-robot collaboration across diverse industries.
