GrayMatter Robotics, a Los Angeles, CA-based AI-powered robotics solution for manufacturing, secured $45 million in Series B funding, bringing its total raised to $70.4M.
Investors
The round was led by Wellington Management, with participation from NGP Capital, Euclidean Capital, Advance Venture Partners, SQN Venture Partners, and several existing investors.
Wellington Management is a global investment firm managing over US$1.2 trillion for clients worldwide. Their Private Investing platform has raised over US$8.5 billion, focusing on venture capital and private credit across diverse sectors and geographies. Leveraging a team of 1,000+ investment professionals, Wellington combines deep private market expertise with extensive networks and robust research to benefit investors and entrepreneurs alike.
GrayMatter Robotics Use of Funds
The company plans to use the funding to expand its team to meet growing customer demand, enhance its Los Angeles headquarters, and accelerate the development and deployment of next-generation AI-powered robotic solutions.
About GrayMatter Robotics
Founded in 2020 by SK Gupta, Ariyan Kabir, and Brual Shah, GrayMatter Robotics is an AI and advanced robotics company delivering autonomous robotic solutions for tedious and ergonomically challenging tasks. It bundles its proprietary AI technologies with off-the-shelf robots, sensors, and tools and provides application-specific turnkey solutions to customers in a Robot-as-a-Service (RaaS) format. GrayMatter Robotics is helping manufacturers improve the quality of life of shop floor workers, enhance production capacity, and reduce scrap, repair, and rework costs.
Funding Details
Company: GrayMatter Robotics, Inc.
Raised: $45.0M
Round: Series B
Funding Month: June 2024
Lead Investors: Wellington Management
Additional Investors: NGP Capital, Euclidean Capital, Advance Venture Partners, SQN Venture Partners
Company Website: https://graymatter-robotics.com/
Software Category: Autonomous Robotic Solutions
Source: https://www.prnewswire.com/news-releases/graymatter-raises-45m-series-b-to-accelerate-its-unique-ai-powered-robotics-solutions-for-manufacturings-hardest-problems-and-unique-challenges-302177566.html