The COVID-19 pandemic has shown a significant driver for robotics financial investments, as business look to buy automation. Utah-based Sarcos Robotics bucks the trend a bit, nevertheless, as the purveyor of an innovation created to enhance an existing human labor force, instead of changing a significant piece through automation.
Today the robotic exoskeleton creator revealed a $40 million Series C raise, led by Rotor Capital, with a variety of existing investors plunking down extra funding. The oversubscribed round signs up with $56.1 million already raised by the company, which was drawn out of the huge defense professional Raytheon back in 2015.
Founded in the early 1980s, Sarcos has also been a significant recipient of DARPA grants throughout the years. Back in January at CES, Delta announced that it would be partnering with Sarcos to equip its ground crew with exoskeletons created to assist them raise to 200 pounds without tiredness.
Sarcos states this round will go toward bringing its Guardian XO into complete industrial production. The battery-powered system is set up for release at some point next year. The company has already opened the fit up to pre-orders. Sarcos is one of a number of business producing exoskeletons for industrial use, a list that likewise consists of Rewalk, Ekso, SuitX and vehicle makers like Honda.
Image Credits: Sarcos Robotics As noted in the release, ABI research is forecasting the marketplace for these gadgets to surpass $11.5 billion over the next years.
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.