CB Insights today named Veo Robotics, the Waltham-based industrial automation company building sensing and intelligence for robots to collaborate with humans safely, to its first-annual AM 50 ranking, showcasing the 50 most promising private advanced manufacturing companies in the world. Founded by Patrick Sobalvarro, Clara Vu, and Scott Denenberg, Veo has pioneered the creation of software and hardware that allow for fluid, efficient, and flexible production lines within manufacturing facilities.
"This initial cohort of the AM 50 includes a wide range of companies at different stages of maturity, product development, and funding. Collectively, they are working on everything from factory analytics and artificial intelligence to the industrial internet of things cybersecurity," said Brian Lee, SVP of CB Insights' Intelligence Unit. "We're excited to watch the companies on this year's list continue to grow and further create operational efficiencies that will have a meaningful impact across industries."
"We're proud to be recognized by CB Insights for our technology's ability to improve safety, productivity, and working conditions for manufacturers," said Patrick Sobalvarro, co-founder and CEO of Veo Robotics. "As manufacturers have been challenged by the pandemic, supply chain constraints, and labor shortages over the last few years, they've only increased the number and use of industrial robots within their facilities. Veo's FreeMove is the only product currently available with the safety design needed to now unlock the true power of human-robot collaboration on their facility floors."
Utilizing the CB Insights platform, the research team picked 50 private market vendors from a pool of over 6,000 companies, including applicants and nominees. They were chosen based on factors including R&D activity, proprietary Mosaic scores, market potential, business relationships, investor profile, news sentiment analysis, competitive landscape, team strength, and tech novelty. The research team also reviewed hundreds of Analyst Briefings submitted by applicants.
With human-robot collaboration rising for 6 out of 10 manufacturers in the last year as facilities turn to automation to supplement workers, Veo Robotics is providing advanced computer vision and 3D sensing to enable standard industrial robots to work safely alongside humans. Specifically, the company's flagship product FreeMove® uses dynamic speed and separation monitoring to automatically trigger a robot to stop as human co-workers move closer to the robot during operation. As a result, manufacturers can prioritize safety and productivity without sacrificing one for the other.