Rethink Robotics Receives $30 M Series C Financing

Previously known as Heartland Robotics, Rethink Robotics established by Rodney Brooks, co-founder of iRobot has created a new class of manufacturing robots.

It declares that it has achieved $30 M in Series C financing. Directed by Sigma Partners, the funding round involves the entire prior investors in addition to Draper Fisher Jurvetson, the new investor. Using the funds, a new robot product will be launched by Rethink Robotics, leading to the creation of new product lines, thereby expanding marketing, sales, and services operations.

By developing a new generation of robots, Rethink Robotics will witness enhanced productivity within manufacturing environments. With excellent autonomous sensing capability and seamless adapting efficiency to any environment, the robots will be intuitive for deployment, ensuring increased versatility. These robots are easy to be procured, trained, and deployed. Also, it is more cost-efficient compared to traditional industrial robots.

According to the managing director at Sigma Partners, Paul Flanagan, Rethink Robotics has achieved great heights with the accomplishment of its flagship product, which is a totally new category of manufacturing robot.

Draper Fisher Jurvetson managing director, Steve Jurvetson says that its collaboration with Rethink Robotics will foster the development of robotic products that will create a persuasive market vision.

According to Rethink Robotics president and CEO, Scott Eckert, this investment will support the achievement of the company’s first product leading to the commencement of new products. With a unique potential to support the concurrent advancement in hardware as well as software technologies, the company will promote mechanical and electrical engineering, embedded and application software, controls and other businesses.

Source: http://www.rethinkrobotics.com/

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