Standard Bots, a robotics automation leader, announced it has raised $63 million in total funding. Its recent Series B round was led by General Catalyst and participated in by Amazon Industrial Innovation Fund and Samsung Next. Lachy Groom, Quiet Capital, 468 Capital, Lightscape Partners, and Box Group provided additional venture capital support.
The company has already successfully launched the RO1 robotic arm and is now preparing to bring its new AI-powered robots to market, unlocking use cases and industries untouched by traditional robotics like complex assembly, food preparation, or dishwashing.
Standard Bots designs and assembles collaborative robotic arms in the US to transform industrial sectors like manufacturing. And the company is also transforming a transformer-based model that utilizes the power of AI to enhance robotic capabilities. By observing human demonstrations, Standard Bots enables robots to master intricate tasks from loading complex welding fixtures to folding clothing with unprecedented precision, marking a pivotal moment in the industry and unlocking a realm of new possibilities previously deemed by many to be beyond robotic reach. Standard Bots’ RO1 and RO2 robotic arms are currently in production and are designed for high variability and challenging real-world applications, a stark contrast to traditional, pre-programmed robots that often cannot navigate unpredictable conditions like dynamic or cluttered environments and unexpected obstacles.
From industry giants like NASA and Timken to small businesses, Standard Bots’ goal is to help companies enhance productivity, improve operational efficiency, significantly reduce costs, and address the growing labor shortage in manufacturing. And unlike legacy robotics solutions, Standard Bots’ intuitive software is as easy to use as a smartphone. With no coding expertise required, anyone can program its robots, from seasoned professionals to newcomers.
This democratization of robotics fosters innovation but also encourages diverse contributions, pushing the boundaries of what robotics can achieve. And for more customized applications, customers can develop their own apps on Standard Bots’ platform using flexible APIs and modern technologies like React.
As part of this funding round, Max Rimpel of General Catalyst will join the company’s board alongside existing board member and lead seed investor Itai Tsiddon. And the new funding round will be used to expand Standard Bots’ engineering team, accelerate the development of its series of next-generation robots in new sizes, and enhance the proprietary platform that makes these robots intuitive for everyday use.
KEY QUOTES:
“Historically, robotics projects required a team of PhDs, multiple years of research, and deep pockets—and even after all that, use cases were often limited. We’re on a mission to make advanced, adaptable robots accessible to all. Standard Bots makes it easy for any company, from small mom-and-pop shops to Fortune 500 companies, to harness the power of robotics.”
– Evan Beard, co-founder and CEO of Standard Bots
“Robotics is having its ChatGPT moment. New advances in AI allow robots to ‘understand’ and react to actions in real-time, which means they can take on more complex jobs. Looking ahead, we’re focused on expanding our product line and pioneering new applications for AI-based robotics in industries previously untouched by this technology.”
– David Golden, co-founder of Standard Bots
“Robotics has been the unlock for the repatriation of manufacturing, but the potential has been hindered by two major barriers: cost and flexibility. We think Evan is the ideal founder for this endeavor—meticulous, driven by the broader potential for transformation, fearless, and thorough in his approach. We look forward to supporting Standard Bots and seeing how their technology will open up new possibilities for robotics across American manufacturing.”
– Quentin Clark, Managing Director of General Catalyst
“We’re always on the lookout for novel technologies in automation and robotics. With its versatile and accurate robotics solutions, we believe Standard Bots is positioned to help redefine certain aspects of the manufacturing process. Standard Bots’ technology offers exciting possibilities for enhancing operational efficiency and reducing costs across various industries, which aligns with our commitment to fostering innovations that can create more dynamic, responsive supply chains.”
– Franziska Bossart, Head of the Amazon Industrial Innovation Fund
