Rethink Robotics (formerly Heartland Robotics), founded by iRobot
co-founder Rodney Brooks to develop a new class of manufacturing
robots, today announced that it had secured $30 million in Series C
financing. The funding round was led by Sigma Partners, with
participation from all prior investors as well as a new investor,
Draper Fisher Jurvetson. The funds will be used to launch the
company’s new robot product, begin development of new product lines,
and expand sales, marketing, and services operations.
Rethink Robotics is developing a new generation of robots to improve
productivity in manufacturing environments. The robots will be
intuitive to use, capable of autonomously sensing and adapting to
their environment, versatile, and flexible. They’ll be easy to buy,
train, and deploy and will be much less expensive than traditional
industrial robots.
“Rethink Robotics has made great strides toward completing their
flagship product, an entirely new category of manufacturing robot,”
said Paul Flanagan managing director at Sigma Partners. “Their timing
could not be better, as recently businesses have expressed powerful
reasons that they want to re-shore their manufacturing operations.”
“We are excited to join Rethink Robotics as they create robot
products that implement a remarkably compelling market vision — one
that will overturn conventional wisdom about how and where
manufacturing should be done,” said Steve Jurvetson, managing
director at Draper Fisher Jurvetson.
“This investment propels our first product to completion as well as
gives us a head start on new products,” said Rethink Robotics
president and CEO Scott Eckert. “The company has the unique challenge
of driving the state-of-the-art in both hardware and software
technologies simultaneously. We have a strong team in place and will
use this funding to recruit the best talent in embedded and
application software, controls, mechanical and electrical engineering
as well as a wide range of business roles.”
About Rethink Robotics
Rethink Robotics, Inc. is developing a revolutionary new generation
of intelligent robots to increase productivity and efficiency in
manufacturing environments. Introducing robots into places that have
not been automated before will make manufacturers more efficient,
their workers more productive, and keep jobs from migrating to
low-cost regions. Based in the Innovation District of Boston,
Massachusetts, the company is funded by Charles River Ventures,
Highland Capital Partners, Sigma Partners, Draper Fisher Jurvetson,
and Bezos Expeditions, the personal investment company of Jeff Bezos.
For more information about Rethink Robotics, please visit
www.rethinkrobotics.com .
Press Contact: Mitch Rosenberg Rethink Robotics, Inc. (617) 500-1357 mrosenberg@rethinkrobotics.com
SOURCE: Rethink Robotics
mailto:mrosenberg@rethinkrobotics.com
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