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RIOS makes use of robotic work cells to automate factories and warehouses. | Supply: RIOS
RIOS Clever Machines introduced in $28 million in Sequence A fairness funding and debt financing. This brings the corporate’s whole funding to $33 million.
RIOS focuses on automating labor-intensive factories with AI and robotic workcells. The corporate makes use of a robots-as-a-service (RaaS) mannequin, and presently has robots deployed within the manufacturing, client packaged items and meals and beverage sectors in the US.
The corporate plans to make use of the funding to scale its robotic fleet with new and current clients.
“Bedrock sectors of our financial system are crippled by a labor scarcity drawback that Covid become a full-blown disaster. Right this moment, most factories on the earth are labor-intensive, and with hundreds of thousands of jobs unfilled, producers are unable to maintain up with skyrocketing client demand – and they’re in excessive ache,” Dr. Bernard Casse, RIOS’ CEO, mentioned. “We have now the treatment to this trillion-dollar alternative. We’re re-industrializing America with best-in-class American know-how, whereas upskilling our American workforce within the course of and enabling them to entry higher-level and better-paying jobs.”
Deep tech investor Fundamental Sequence led the funding spherical. Yamaha Motor Ventures, Orbit Enterprise Companions and Hypertherm Ventures additionally participated within the spherical. Fundamental Sequence Associate Mike Zimmerman can be becoming a member of RIOS’ board of administrators, and Yamaha Motor Ventures COO and Managing Director Amish Patel will function board observer.
“RIOS’ mixture of RaaS enterprise mannequin and adaptable end-to-end robotic workcell platform is the perfect reply to the labor and provide chain challenges dealing with producers across the globe. Fundamental Sequence was interested in RIOS’ sturdy market traction, optimistic buyer suggestions and world-class crew,” Zimmerman mentioned. “We’re additionally thrilled that RIOS is strategically tapping into Australia’s ecosystem of trade consultants, analysis establishments, and industrial firms to each commercialize progressive robotic applied sciences and get early entry to the Australian market.”
RIOS was based in 2018 by Casse and Dr. Clinton Smith, now the CTO of the corporate, each former Xerox PARC engineers. In 2020, the corporate introduced $5 million in enterprise funding.
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