Bear Robotics, a company specializing in service robotics and artificial intelligence solutions, has recently completed a $60 million Series C funding round led by LG Electronics. This investment marks a substantial step for the Redwood City-based firm, as it aims to expand into new markets such as smart warehousing and supply chain automation. Bear Robotics plans to develop its next-generation robotics platform, which includes autonomous navigation systems and adaptive learning algorithms, to cater to the evolving demands of supply chains and manufacturing processes.
investment
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Bots & BusinessInternational
Odense brings together robotic investors and tech startups from all over Europe
At next week’s R-24 robotics event in Denmark, Odense Investor Summit will once again bridge the gap between investors and startups. This year’s summit has a high international level with startups from all over Europe.
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This morning Constantijn van Oranje, Special Envoy at Techleap, presented the research report State of Dutch Tech to Secretary of Economic Affairs Micky Adriaansens. He provided a comprehensive overview of the current state and future outlook of technology investment and development in the Netherlands, reflecting broader trends across Europe.
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The Dutch tech ecosystem, despite showing resilience during the pandemic, faces challenges in maintaining its growth momentum. The absence of newly established billion-dollar companies and IPOs in 2022 and 2023, along with a slight decline in the overall ecosystem value to approximately €240 billion, signals a deceleration in growth. This contrasts with the steady growth in other European countries like the UK and France.
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Helsinki is emerging as a prominent destination for venture capital (VC) investment and startups, especially as the global VC landscape looks for recovery from a notable downturn. Recognized for high-profit investments, strategic location, and strong support infrastructure, Helsinki is attracting international venture capitalists.
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In the technological arms race among major tech giants, Meta Platforms has emerged as the biggest investor in Research and Development (R&D). According to an analysis by Stocklytics.com, Meta Platforms recorded an R&D intensity of 29.7% for the year 2023, surpassing its competitors in the so-called ‘Magnificent 7’, a group of leading technology companies. This figure is significantly higher compared to other major players like Alphabet (14.67%), Microsoft (12.84%), Amazon (15.23%), Apple (7.80%), NVIDIA (18.17%), and Tesla (4.10%).
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Farm-ng, specializing in agricultural technology, announced the successful closure of its Series A funding round, accumulating over $10 million. This funding is intended to bolster the company’s efforts in providing affordable and adaptable robotics and AI solutions, specifically targeting small to mid-sized farms. The company’s flagship product, the Amiga, is a modular electric robot equipped with an on-board AI computer designed to enhance the economic and environmental sustainability of farming practices.
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Flexxbotics, a company specializing in workcell digitalization for robot-driven manufacturing, announced a new phase of investment and guidance from Scott Harris, who is recognized for his co-founding roles at SOLIDWORKS and Onshape. This development is expected to contribute significantly to Flexxbotics’ advancements in the field of smart factory robotic manufacturing.
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Playground Global announced that it has raised $410 million in new capital, bringing the firm’s assets under management to more than $1.2 billion. Playground Global is an early-stage, deep-tech venture firm investing in transformative technologies and founders building category-defining businesses. Similar to Fund II, capital deployments in Fund III will focus on Seed and Series A companies with initial investments ranging from $1 million to $20 million across next-gen computing, logistics, automation, infrastructure, decarbonization, and engineered biology.
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Paderborn-based start-up Unchained Robotics has received €5.5 million of capital which will continue to fuel their global expansion and deepen their services and partnerships. Future Industry Ventures, Teklas Ventures, vent.io, and existing investors including business angels in the industry are backing the company. Unchained Robotics aims to use the investment to expand its sales and services, and to serve the booming demand for its new MalocherBot into a wider range of applications.