Rios Intelligent Machines, a Menlo Park, CA-based provider of end-to-end AI-powered robotic workcells for factory automation, raised $28 million in Series A equity funding and debt financing.
The round was led by Main Sequence, with participation from Yamaha Motor Ventures, Orbit Venture Partners, Hypertherm Ventures, Valley Capital Partners, Morpheus Ventures, and Grit Ventures.
The company intends to use the funds to deploy its robotic fleet at scale to both new and existing customers.
Main Sequence Partner Mike Zimmerman is joining RIOS’ board of directors, and Yamaha Motor Ventures COO & Managing Director Anish Patel has joined as a board observer.
Company: RIOS Intelligent Machines, Inc.
Raised: $28.0M
Round: Series A
Funding Month: February 2022
Lead Investors: Main Sequence
Additional Investors: Yamaha Motor Ventures, Orbit Venture Partners, Hypertherm Ventures, Valley Capital Partners, Morpheus Ventures, and Grit Ventures.
Company Website: https://www.rios.ai/
Software Category: AI-powered robotic workcells
About the Company: Led by Dr. Bernard Casse, CEO, Rios is helping enterprises automate their entire factories, warehouses, or supply chain operations – by deploying AI-powered end-to-end robotic workcells that integrate within existing workflows. Its robotic workcells are currently deployed in the United States in the manufacturing, consumer packaged goods, and food & beverage sectors. The company currently offers its robotic workforce through a factory automation-as-a-service agreement, in which customers have no upfront capital commitments. The company has signed agreements with over a dozen customers in the U.S. and Japan, from mid-sized businesses to large enterprises. The company is headquartered in Menlo Park, CA, and has a distributed workforce across the US and a subsidiary in Australia.
Source: https://www.finsmes.com/2022/02/rios-intelligent-machines-raises-28m-in-series-a-funding.html