Bedford, Mass.And the November 17, 2022 /PRNewswire/ — Soft Robotics Inc. announced. (SRI) today announced its filing $26 million In the initial closing of the Series C, the funds will be used to expand its commercial spread MGripAI™ robotic pickup solutions. MGripAI is an easy-to-integrate automation package that combines ultra-fast 3D vision and AI technologies with a patented, firm, IP69K-rated, soft grip to give industrial robots hand-eye coordination to humans. This unprecedented combination of robotic “hands”, “eyes” and “brains” allows, for the first time, the use of high-speed prosthetic arms to automate the picking of large quantities of protein, produce, dairy, bakery and prepared food operations.
It was led by Soft Robotics’ Series C Tyson Venturesthe venture capital arm of Tyson Foods Corporation (NYSE:TSN), and brought new investors, Marel (AEX: MAREL) and Johnsonville, into SRI’s powerful investor syndicate. SRI reported that they closed the first $26 million For an undisclosed round of size with the participation of these new investors and strong participation from the existing investors.
“We are delighted that some of the world’s leaders in the food production and automation markets have decided to join existing investors in supporting SRI’s continued growth journey,” he said. Jeff BeckCEO of Soft Robotics. “SRI technologies are increasingly critical to enabling and scaling efficient and safe production of many food categories. This round of growth capital enhances SRI’s ability to rapidly develop, deploy and support these technologies.”
“For decades, food producers have been unable to adopt industrial robot arms to automate their labour-intensive bulk production processes,” he said. Mark Chipetta, Chief Operating Officer, Soft Robotics. Finally, there is a solution! MGripAI, with its revolutionary perception and artificial intelligence, opens the door to the use of industrial robots at almost all stages of food production, increasing productivity, improving food quality, reducing facility footprint, and breaking the critical dependence on labor.”
Companies like Tyson Foods and Johnsonville are betting on adopting robotic automation to help improve safety and increase production at their facilities to meet demand for high-quality, safe, and nutritious protein products. Both companies are current users of Soft Robotics solutions.
“At Tyson, we are constantly exploring new areas in automation that can enhance safety and increase the productivity of our team members,” he said. Rahul Rai, a senior manager at Tyson Ventures. “Soft Robotics’ revolutionary robotic technology, computer vision and AI platform has the potential to transform the food industry and will play a major role in any company’s automation journey.”
“We are excited to expand our partnership with Soft Robotics and add an investor to our existing client relationship.” Kevin Ludwig, managing director of Johnsonville Ventures. “We believe Soft Robotics offers best-in-class pick and place systems that are applicable to many primary and secondary processing operations. Applications that reduce repetitive motion and improve employee safety, as well as improve productivity, are welcome improvements to any process.”
The global increase in demand for high-quality, sustainably produced food, at a time of increasing labor scarcity, is causing food producers to struggle with supply, adding to the pressure for automation. As a result, Soft Robotics experienced a rapid rise in demand for its solutions and delivered the four largest sales quarters in the company’s eight-year history.
About Soft Robotics
Soft Robotics is an industry-leading technology company that designs and builds high-speed robotic picking solutions using its proprietary soft robotic gripper, 3D machine vision, and artificial intelligence. The company’s transformational robotic solutions enable system integrators and OEM machine builders to offer solutions that automate some of the most challenging bulk processes found in food production. Learn more through www.softroboticsinc.com.
SoftRobotics is backed by leading companies and financial investors including ABB, Calibrate Ventures, FANUC, Johnsonville, Marel, Material Impact, Scale Venture Partners, Tekfen and Tyson.
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