March 2023 Total Robotics Investment US$526 Million
The 47 robotics investments in March contributed a total of $526 million.
Robotics funding for March 2023 totaled $526 million (See Table 1, below or download Table 1 HERE), the yield of 47 investments. The March investment brings the 2023 total to about $1.66 billion.
Table 1: March 2023 Robotics Funding and Investment
|1X||$23,500,000||Series A||Norwegian||Humanoids / Bipeds||!X is developing a humanoid robotics system.|
|Aicatech AI||$1,275,336||Seed||Switzerland||Software||AICA offers AI-based software that simplifies robot programming.|
|Auto Surgery||$835,000||Seed||United States of America||Surgical System||Autosurg is developing autonomous surgical robots for endoscopic diagnostic and interventional procedures.|
|Azure Alliance||Estimating||bestow||Taiwan||Unmanned Surface Vehicle||Azure Alliance produces the Azure Fighter, an electric marine debris cleaning vessel that operates by remote control or independently.|
|biomotor||Estimating||Seed||United States of America||Rehabilitation/Therapy System, Prosthetic/Orthotic System||Biomotum produces rehabilitation robotics that can be used to assist and restore walking function.|
|Snail||$11,279,991||Series A||Italy||Articulated Robots, Tech – Tools and Machines||Caracol offers large format, robotically powered, additive manufacturing solutions for the industrial sector.|
|Chietom (Zhitong Precision)||Estimating||Other||China||Actuators / Motors / Servos||Chietom (Zhitong Precision) is a manufacturer of gear reducers for industrial robot joints|
|Owl||$4,808,945||Other||France||Drones, Sensors / Sensing Systems||Chouette uses drones to capture images which are then analyzed to detect disease and tree vigor and, based on analysis of the data, produce the optimal volume of chemical spray.|
|Direct Drive Technology||Estimating||B series||China||Actuators / Motors / Servos||Direct Drive Technology provides direct drive solutions for home maintenance robots, industrial/commercial robots and other machines.|
|DRUNK||Estimating||bestow||great Britain||Sensors / Sensing Systems, Software||DRISK is developing a standardized approach to autonomous vehicle testing that incorporates the world’s broadest library of edge cases.|
|Canadian Drone Delivery||$75,000||bestow||Canada||Drones, Drones||Drone Delivery Canada is focused on designing, developing, and implementing commercially viable drone delivery systems in Canada.|
|Express Drones||$250,000||Seed||United States of America||Drones, Software||Drone Express is a full-service logistics company that uses autonomous drones for local package delivery.|
|Enabot||$145,267||Other||Hong Kong||Indoor Mobile Platform||Enabot manufactures mobile social robots powered by artificial intelligence.|
|ENKITEK||Estimating||Seed||Spanish||Sensors / Sensing Systems, Collaborative Robots||ENKITEK uses robotics, AI and IoT to automate and monitor production in indoor farming.|
|AI Factory||$850,000||Seed||Singapore||Indoor Mobile Platform||Fabrica AI is developing an autonomous tile grouting robot that installs and cleans tile crevices with the push of a button.|
|Fly||Estimating||C series||Switzerland||Drones, Data Acquisition/Processing/Management||Flyability designs drones for visual inspection and exploration indoors, often inaccessible environments for inspections and more.|
|Geoflex||$6,366,419||Series A||France||Sensors / Sensing Systems, Software||Geoflex is a cloud service operator that scales GPS/GNSS based applications to within 4 centimeters on land, at sea and in the air.|
|Ghost Autonomy||$45,370,440||E series||United States of America||Software||Ghost Autonomy produces software to enable autonomous driving in consumer vehicles.|
|Hungry Technology||$14,496,535||Seed||China||Indoor Mobile Platform, Outdoor Mobile Platform||Hanyang Technology manufactures autonomous service robots for indoor and outdoor use.|
|Hopefully||$3,496,220||Seed||Canada||Human Robot Interaction (HRI) \ Haptics||Haply iprovides haptic devices, prototyping, firmware, and virtual study aids.|
|Hengzhi’s Future||Estimating||Seed||China||Four legs||Hengzhi Future is a developer of consumer-grade robotic products.|
|Hirebotics||Estimating||Other||United States of America||System Integration/Programming, Collaborative Robotics||Hirebotics is a Robotics-as-a-Service (RaaS) provider.|
|Inker Robotics||$1,200,000||Seed||India||System Integration / Programming, Research / Consulting||INKER is an engineering services company that manufactures robotics solutions.|
|IONA||Estimating||bestow||great Britain||Drones, Software||IONA develops zero emission autonomous drone solutions for logistics in low population density areas|
|Jodell Robotics||$13,014,619||B series||China||End Effectors, Actuators / Motors / Servos||Jodell Robotics offers electric gripping solutions for robotics systems.|
|Lanjiang Technology||Estimating||Seed||China||Outdoor Mobile Platform||Lanjiang Technology is a developer of agricultural robots for field cropping management.|
|LexxPluss||$10,800,000||Series A||Japan||Indoor Mobile Platform||LexxPluss provides customizable hybrid autonomous mobile robots (hybrid-AMR) for the logistics market.|
|Delivery of Manna Drones||$10,000,000||Other||Ireland||Drones, Software||Manna offers drone delivery as a service stack to restaurant chains, dark kitchens and online food delivery platforms|
|Neubility||$2,296,832||Series A||South Korea||Outdoor Mobile Platform||Neubility offers self-driving robots as a service.|
|Agile robotics||$65,000,000||B series||United States of America||Collaborative Robot, Articulated Robot||Nimble Robotics offers fulfillment services using intelligent robots for pick and pack operations.|
|Plus One Robotics||$52,743,951||C series||United States of America||Articulated Robots, Sensors / Sensing Systems||Plus One Robotics develops a package handling robotics platform for logistics applications.|
|Qi Yuan Robot||Estimating||Seed||China||Indoor Mobile Platform||Qiyuan Robot is a developer of intelligent cleaning robots.|
|Smart Qiaotian||$1,500,000||Other||China||End Effector||Qiaotian Intelligent manufactures tool changers for industrial robots.|
|Robotics READY||Estimating||Other||United States of America||Software||READY Robotics is the developer of ForgeOS, an industrial OS for robots and automation.|
|Robotics Renovation||$2,500,000||Seed||United States of America||Other Industries||Renovation Robotics develops automation technology for automated solar power
and installation of shingles in the construction sector.
|REP-TEC||$354,811||Other||United States of America||Articulated Robots, Sensors / Sensing Systems||REP-TEC provides robotic automated recycling solutions.|
|Rizhao Ami Precision Control Technology||$7,000,000||Other||China||Actuators / Motors / Servos, Controllers||Rizhao Ami Precision Control Technology provides precision optical mechanical control solutions.|
|Robust Technology||$1,500,000||Seed||Türkiye||Outdoor Mobile Platform||Robeff’s technology results in a fully autonomous mobile delivery system.|
|RoboticPlus. AI||Estimating||Other||China||Articulated Robot, Software||RoboticPlus.AI is a robot company that assists architectural technology by providing intelligent robotic products to the construction sector.|
|Slick robotics||Estimating||Seed||United States of America||Indoor Mobile Platform, Software||sliQue Robotic is a machine learning and robotics company specializing in solutions to optimize hospitality operations.|
|Standard Robots||$86,575,089||C series||China||Indoor Mobile Platforms, Autonomous Forklifts, Automated Guiding Vehicles||Standard Robot provides a wide range of autonomous mobile robots..|
|UISEE||Estimating||C series||China||Outdoor Mobile Platform Autonomous Transport System||UISEE provides a variety of autonomous mobility solutions. l|
|Ventilation Technology||$28,800,000||Series A||China||Autonomous Transport System, Software||Venti Technologies develops logistics systems that incorporate autonomous vehicles to move goods and people in industrial centers.|
|Honesty||$32,802,838||B series||Switzerland||Drones, Software||Verity’s drone-based solution automates inventory checks in large warehouses and DCs.|
|Wingtra||$22,000,000||B series||Switzerland||Drones||Wingtra is a professional mapping and surveying drone manufacturer.|
|Xingmai Innovation||$29,077,374||Other||China||Home Care / Lawn Care / Pool Care, Unmanned Underwater Vehicles||Xingmai Innovation produces intelligent pool cleaning robots.|
|Yogo Robots||Estimating||Other||China||Indoor Mobile Platform||Yogo Robot uses an automated delivery solution. For last mile delivery|
Companies located in China received the most rounds (15) and the largest amount of funding ($205 million). Investments into US companies totaled $176 million (11 rounds in total).
Figure 1: March 2023 Robotics Investment by Country
All types of funding are well represented in the March 2023 investment survey (Figure 2), with seed investments making up the bulk of the round. About a third of the March 2023 investment amount will come from Series C rounds, backed by inward investment Fly ($10M), Plus One Robotics ($52.7 million) and Standard Robots ($86.5 million).
Figure 2: March 2023 Robotics Funding Amount by Type of Investment
Figure 3: March 2023 Robotics Funding Amount by Total and Investment Amount
Editors Note: What defines a robotics investment? The answer to this simple question is essential in any attempt to measure it with some degree of precision. To make investment analysis consistent, repeatable, and valuable, it is important to exclude as much subjectivity as possible during the evaluation process. It begins with definitions of terms and descriptions of assumptions.
Investors and investments
Investments must come from venture capital firms, corporate investment groups, angel investors, and other sources. Friends-and-family investments, governmental/non-governmental agency grants, and crowd-sourced funding are excluded.
Robotics and intelligent systems company
Robotics companies must generate or expect to generate revenue from the production of robotics products (that sense, analyze, and act in the physical world), hardware or software subsystems and enabling technology for robots, or services that support robotics devices. For this analysis, autonomous vehicles (including technologies supporting autonomous driving) and drones are considered robots, while 3D printers, CNC systems and various types of “hard” automation are not.
Companies that simply have the name “robot”, or use the term “robot” to describe products and services that do not enable or support devices that work in the physical world, are excluded. For example, these include “software robots” and robotic process automation. Many companies have multiple locations in different countries. Company locations given in the analysis are based on their publicly listed head offices in legal documents, press releases, etc.
Funding information is collected from a number of public and private sources. This includes press releases from companies and investment groups, corporate briefings, research firm imarket, and association and industry publications. In addition, information comes from sessions at conferences and seminars, as well as during personal interviews with industry representatives, investors and others. Investments that cannot be verified are excluded and estimates are made if the investment amount is not given or is not clear.