Robohub.org
 

Rethink Robotics raises another $18 million

by
12 January 2017



share this:
Sawyer. Image: Rethink Robotics

Sawyer. Image: Rethink Robotics

Rethink Robotics, the Boston-based maker of the Baxter and Sawyer robots founded by iRobot co-founder Rodney Brooks, raised an additional $18 million in an unfinished $33 million Series E round led by private equity firm Adveq. 

Previous investors who also participated in the round included Jeff Bezos’ Bezos Expeditions, CRV, Highland Capital Partners, Goldman Sachs and GE Ventures.

This brings cumulative funding to $131.5 million. The new funding will be used for Rethink’s global expansion initiatives, as well as new product development.

Scott Eckert, President and CEO of Rethink said:

“As we did previously with our Series D round, we expect two closings for different investors. $18M was the initial closing and we will announce additional financing when the transactions are complete.

Sawyer is outselling Baxter ten to one, and we tripled our revenue in 2016. In China, the appetite for Sawyer has been quite high. We’ve sold a large quantity of Sawyer robots. In addition, we are looking to 2017 to be a big year for our deployments in Europe, as we expect to have additional distribution agreements in place in that region soon, as well.”



tags: , , , , ,


Frank Tobe is the owner and publisher of The Robot Report, and is also a panel member for Robohub's Robotics by Invitation series.
Frank Tobe is the owner and publisher of The Robot Report, and is also a panel member for Robohub's Robotics by Invitation series.





Related posts :



Microelectronics give researchers a remote control for biological robots

First, they walked. Then, they saw the light. Now, miniature biological robots have gained a new trick: remote control.
05 February 2023, by

Robot Talk Episode 35 – Interview with Emily S. Cross

In this week's episode of the Robot Talk podcast, host Claire Asher chatted to Professor Emily S. Cross from the University of Glasgow and Western Sydney University all about neuroscience, social learning, and human-robot interaction.
03 February 2023, by

Sea creatures inspire marine robots which can operate in extra-terrestrial oceans

Scientists at the University of Bristol have drawn on the design and life of a mysterious zooplankton to develop underwater robots.
02 February 2023, by

Our future could be full of undying, self-repairing robots – here’s how

Could it be that future AI systems will need robotic “bodies” to interact with the world? If so, will nightmarish ideas like the self-repairing, shape-shifting T-1000 robot from the Terminator 2 movie come to fruition? And could a robot be created that could “live” forever?
01 February 2023, by

Sensing with purpose

Fadel Adib uses wireless technologies to sense the world in new ways, taking aim at sweeping problems such as food insecurity, climate change, and access to health care.
29 January 2023, by

Robot Talk Episode 34 – Interview with Sabine Hauert

In this week's episode of the Robot Talk podcast, host Claire Asher chatted to Dr Sabine Hauert from the University of Bristol all about swarm robotics, nanorobots, and environmental monitoring.
28 January 2023, by





©2021 - ROBOTS Association


 












©2021 - ROBOTS Association