Heartland Robotics has declared that it has received $20 million worth funds in Series B financing headed by Highland Capital Partners. Other participants include, a new investor named Sigma Partners and current investors Bezos Expeditions and River Ventures.
The funding was received amidst growing competition in the robotics sector from Google and other companies of Silicon Valley.
Scott Eckert, CEO of Heartland Robotics, has stated that the raised money and support received from the investors will enable their company to finalize its product development and release its novel product lines in market.
The company has reported that they are determined to release a new range of robots for various automation requirements. According to Rodney Brooks, Founder and Chief Technology Officer, their intelligent robots will be highly intuitive and adaptable. He added that their products can be procured at an affordable cost and can be easily trained and utilized.