Robots are becoming more perceptive and collaborative, thanks to artificial intelligence. NEURA Robotics GmbH yesterday announced that it had closed a $16 million investment round with private equity firm InterAlpen Partners. The Metzingen, Germany-based company said it plans to use the funding to continue its growth and expansion into the U.S. market.
“NEURA Robotics represents one of the most compelling companies we’ve seen in our careers,” said Stephen George, founder of InterAlpen, in a release.
“Their mission of empowering humanity with robotics is highly aligned with InterAlpen’s sustainable impact mission,” he added. “We believe that the amazing products and partnerships that the team has created will power NEURA to become a global industry leader in the rising field of collaborative robotics.”
InterAlpen supports U.S. expansion
NEURA Robotics explained its strategy for expansion. The U.S. is the biggest market for robotics in the world, generating an estimated $7.7 billion in revenue in 2023, according to Statista. The global robotics market could grow to a market volume of $45 billion by 2028, predicted the market research firm.
“Having an American investor on board creates the perfect conditions for our U.S. market launch in 2024,” said David Reger, founder and CEO of NEURA. “We’re proud to partner with InterAlpen, particularly because Stephen George is truly an entrepreneur-investor.”
“He was an early investor in Tesla, SpaceX, Twitter, and Epic Systems and can sense the next big thing,” Reger noted. “InterAlpen believes that forward-looking AI and first-class hardware made in Germany will not only change robotics, but [also] change the world.”
InterAlpen Partners, which has offices in Omaha, Neb., and Denver, described itself as a “boutique” private equity firm. It said its mission is “to partner with successful entrepreneurs and family investment offices to invest in and build category-winning companies when they are in the expansion stage, electrifying and scaling innovation for excellent investment returns and sustainable impact.”
InterAlpen said that it manages about $450 million in capital and that it is currently investing out of its third fund. NEURA's latest funding came less than three months after it closed a $55 million funding round with leading European investors and received recognition from the New York Stock Exchange.
NEURA developing 'cognitive' robots
NEURA Robotics took only three years to become an industry leader in cognitive robotics, asserted Reger. The company claimed that its MAiRA system is “the world’s first market-ready cognitive cobot.”
The autonomous collaborative robot is designed to perceive its environment and any humans it encounters. NEURA said such advances provide it and its partners with applications for multiple sectors, including manufacturing, hospitality, and elder care. It is starting with warehouses.
The company said its platform enables robots to see, hear, and have a sense of touch. “Combined with reflexive sensory processing, these capabilities are essential for autonomous and predictive action,” it said.
NEURA added that its founding team is applying its experience in robotics and AI to develop flexible and efficient cobots that can work with humans in various industries and in a wide range of environments. The company said it is “on track to bring the first multi-purpose humanoid robot to market, developed as a solution for the increasing shortage of skilled workers.”
Dr. Bernd Heinrich was named chief growth officer in a LinkedIn post.
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