Twenty-four startups were funded in March 2018 raising a combined total of $350 million. That brings the 3-month total to $1.5 billion!
There was an additional funding of $2.5 billion to JD Logistics, an 81.4%-owned spin-off that is the logistics arm of JD, China’s 2nd largest online retailer. Funding came from Hillhouse, Sequoia, China Merchants, Tencent, China Life, China Development Bank, China Structural Reform and ICBC International.
JD Logistics has 14 smart warehouses serving a network of ~500 warehouses occupying over 130 million sq ft of warehouse space. The 14 smart warehouses are using robotic shuttles, AS/RS systems, parallel robots and AGVs and JD Logistics is experimenting with autonomous delivery vehicles. Consequently, some of that funding will be used to research, develop and increase the number of smart warehouses with robotic logistics solutions.
Also in March there were three acquisitions and an IPO.
, a Waltham, MA-based robotic-assisted surgical platform and the developer of the FDA-approved CorPath GRX system, raised another $25 million in a post-IPO equity private placement to existing investors including Hudson Executive Capital and BioStar Ventures, and new investors. Corrindus has raised $118 million and installed 33 systems to date.
, a Silicon Valley mobile security robot startup, raised $13 million in a Series A financing led by Sequoia Capital with participation by Founders Fund, Storm Ventures, Bloomberg Beta, Promus Ventures and others.
, an Oregon startup developing legged robots into products that need rugged mobility and must fit into human spaces, closed a $8 million Series A round. Playground Global led the round, with participation from Sony Innovation Fund and existing investor Robotics Hub. Agility’s two-legged Cassie robot is already deployed in 6 research institutes. Agility is planning on using Cassie for everything from deliveries to facility inspections to hazardous search-and-rescue operations.