- Brain Corp, an artificial intelligence company creating transformative core technology in the robotics industry, announced it raised $36 million in Series D funding
Brain Corp, an artificial intelligence company creating transformative core technology in the robotics industry, announced it raised $36 million in Series D funding to meet the growing demand for autonomous mobile robots (AMRs) in retail, healthcare, airports, education and other industries now on the front lines of the COVID-19 health crisis. This round was led by returning investor SoftBank Vision Fund 1 and includes new investors ClearBridge Investments, LLC, and Satwik Ventures along with additional investment from Qualcomm Ventures LLC.
Original equipment manufacturing (OEM) partners like Tennant Company, Nilfisk, Alfred Kärcher SE & Co. KG, Minuteman International, Dane Technologies, UniCarriers Americas and others, license Brain Corp’s robotic AI software BrainOS to create autonomous mobile robots that can operate safely in dynamic indoor public spaces.
And the new funds will be used to further expand Brain Corp’s growth into new robotic applications beyond floor care, including inventory delivery, shelf analytics, and other applications that improve employee productivity, reduce costs, and enhance customer experiences. And the capital will also be used to support the manufacturing and sales efforts of OEM partners in new markets like those in Europe and Asia-Pacific.
Retailers have significantly ramped up their use of robotic floor scrubbers as the COVID-19 outbreak grew this year. This highlights the strong value that robotics can deliver.
Autonomous usage of BrainOS-powered machines in retail locations in the U.S. have spiked 13.6% in March 2020 compared to the same month last year and 13% during Q1 of this year, according to internal network data. Plus BrainOS-enabled robots are on track to deliver more than a quarter-million hours of work over the next 30 days, giving essential workers time back to focus on other important tasks.
Brain Corp has deployed or enabled more than 10,000 robots by working with its OEM partners. And its customers include several Fortune 500 brands, including Walmart, Kroger, Giant Eagle, C&W Services, Simon Property Group, and dozens of other grocers, retailers, airports, educational institutions.
Key Quotes:
“We have always envisioned a world where robots make the lives of people safer, easier, and more productive. Autonomous robots are playing a vital role in supporting essential businesses and their workers during this health crisis. This investment will help us continue our pace of innovation and fuel our growth as we execute on the opportunity in front of us.”
-Brain Corp CEO Dr. Eugene Izhikevich
“Brain Corp exemplifies the innovative, market-leading businesses we seek as partners. World events have brought the value of automation sharply into focus, and we see Brain Corp playing an integral role as market adoption for robotics accelerates.”
-Aram Green, Managing Director at ClearBridge Investments
