Bay Area-based robotics startup RIOS is coming out of stealth today to reveal $5 million in funding. The round is being led by Valley Capital Partners and Morpheus Ventures, with involvement from a long list of financiers, including Grit Ventures, Motus Ventures, MicroVentures, Alumni Ventures Group, Fuji Corporation and NGK Glow Plug Co.
. The relocation comes during a time of increased interest in factory automation. A variety of various startups have actually received enormous funding of late, consisting of Berkshire Grey’s massive $263 million raise in January. RIOS’s raise is substantially smaller, naturally, but the young company has more to prove.
Nevertheless, financiers are plainly eyeing automation with great interest in the middle of a continuous international pandemic that has both shrieked lots of markets to a halt and led many to look to alternative production components that eliminate the human component of virus transmission.
RIOS was established in 2018, as a spin-out of Stanford University, with help from a variety of Xerox PARC engineers. The start-up has run in stealth for the previous year and a half while testing its innovations with a choose group of partners.
The business’s first item is DX-1, a robot designed for a range of industrial jobs, consisting of static bin selecting and conveyor belt operations. The system is powered by the business’s AI stack, including an understanding system and a range of tactile sensors installed on the robotic hand.
The strategy is to charge a month-to-month charge for the robotic system that includes a range of services, consisting of programming, upkeep, tracking and regular updates.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.