Humanoid robot maker Neura robotics raises US$120 million round
NEURA Robotics, a German startup that manufactures robots that can “see, hear and touch”, has raised US$120 million, which the company said it will use to improve the machines’ ability to perceive and process information.
Lingotto Investment Management, an investment arm of Italy’s Agnelli family, led the round, and other investors included Volvo Cars Tech Fund, BlueCrest Capital Management and InterAlpen Partners, Neura Robotics said in a statement late Wednesday (Jan 15).
Neura Robotics is expanding, doubling its employees to 300 people in the last year, as it works to position itself as a leader in an industry dominated by Asian and American companies, chief executive officer David Reger said. Robots that can move heavy objects, automate repetitive or dangerous tasks or replace humans in service jobs are drawing investors with the promise of saving on labour costs and shortages.
“We closed the round in less than two months,” Reger said. “This shows that the market has enough confidence. You can’t raise in Europe just based on vision, you have to show meat on the bones.”
Reger said the company has almost US$1 billion in orders and its customers include the robotics unit of Japanese heavy-machinery manufacturer Kawasaki Heavy Industries and Omron, a Japanese electronics company.
Neura Robotics released a video of its humanoid last year, showing it unloading a washer, ironing clothes and pouring a cocktail. The market is still nascent, and Reger said the company’s white-and-black 4NE-1 robot, which stands about 175 centimetres tall, is still in its pilot stage.
Still, a Goldman Sachs report last year projected that humanoid robots would become a US$38 billion market by 2035. The Chinese government recently started promoting the use of humanoids for elderly care in hopes of addressing the country’s demographic challenges.
Reger said Germany should take a page out of China’s playbook, and make robotics a national priority. “We have all the senior, interface, hardware technologies being the largest automotive maker. We can be a leader in robotics,” he said. BLOOMBERG
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