- Relay Robotics recently announced it raised $10 million in Series A funding. These are the details.
Relay Robotics – a corporation formed by the acquisition of leading robotics developer Savioke – announced the completion of a $10 million Series A Financing and the appointment of veteran technology executive Michael O’Donnell as Chairman and Chief Executive Officer. And Savioke Co-Founder Steve Cousins will become Chief Technology Officer of Relay Robotics and lead the company’s product strategy and innovation efforts.
Relay delivery robots are currently deployed at major hotels in the U.S. like Marriott, Hilton, Westin, Mandarin Oriental, Holiday Inn, and Radisson, nationally recognized hospitals like Georgetown and Dartmouth, and commercial real estate properties. And Relay’s Rapid-Install trains and activates a robot within hours of arrival at a location. Customers can name their robot and create a customized “wrap” to give it a unique character and harmonize it with their brand.
The Relay product line consists of:
Relay
The original service robot, globally installed in hotels, hospitals, and commercial real estate.
Relay+
The newest autonomous robot with flexible configurations including a larger capacity top bin, a 4-drawer model, and independent elevator operations.
With COVID-19 retreating, the markets Relay Robotics serves (hospitality, healthcare, and real estate), are poised for a robust recovery. And the global hospitality market is expected to grow from $3.9 trillion in 2021 to $4.5 trillion in 2022 at a compound annual growth rate (CAGR) of 15.1% and is expected to reach $6.7 trillion in 2026 at a CAGR of 10.2%.
KEY QUOTES:
“Our ownership’s crystal ball saw, before most hotel operators, what service robot technology could add from a marketing and operations perspective. The Relay robots are integrated into our daily guest experience, and we use them at all eight of our hotels.”
– Bob Combie, Senior Vice President of Technology at Seaview Investors, a leading hotel operator
“I’m excited to join Steve and the incredibly talented team at Relay Robotics to address this huge market opportunity for autonomous robots that help businesses serve their customers, patients, and employees. The market is quickly embracing these AI & autonomous technologies to address the worldwide labor shortage and meet their clients’ needs. Relay Robotics has the intellectual property, a product line of working robots making deliveries across hospitality, healthcare and offices, and a pipeline of marquee customers.”
– Michael O’Donnell
“There is a multibillion-dollar market for service robots and Relay Robotics has the team, technology and real-world experience in applying service robots to solve business problems. Michael will lead Relay on an aggressive growth path as we partner with customers to develop more innovative uses of service robots to enhance the customer experience and improve operating efficiency.”
– Mark Koulogeorge, Managing Partner at MK Capital which led the Series A Financing
“Our collective experience and expertise in AI, autonomous vehicles, and building the Relay software technology platform is paying huge dividends in driving use cases and the reliability of our robots. We continue to expand the capabilities of Relay robots, enabling them to be quickly deployed to help people in service industries.”
– Steve Cousins, Chief Technology Officer
