In the current economic conditions, robotics startups must work harder to find venture capital, but investors are getting more help in finding innovators worth betting on. Indxx last week announced the licensing of its Indxx Global Robotics & Artificial Intelligence Thematic Index to Mirae Asset Global Investments. The index is is now the underlying benchmark for the TIGER Global AI & Robotics Indxx ETF (exchange-traded fund; Ticker 464310), which began trading on the Korea Exchange (KRX) on Aug. 17. “Artificial intelligence is poised to define this decade,” stated Rahul Sen Sharma, CEO of Indxx. “We are seeing tremendous adoption of…
CAMBRIDGE, Mass.—At last night's RoboSource event, Venture Café and MassRobotics hosted discussions of how robotics developers, startups, investors, and users can collaborate to ensure they make the most of automation. RoboSource featured three speakers, 15 exhibitors, and over 400 attendees. “The goal is to get people together from manufacturers, local startups, and large corporates,” said Russell Nickerson, engagement liaison at MassRobotics, in his introduction to the event. “It follows the concept of integrators, who help source materials and machinery and who provide engineers and sales expertise. Everyone in this community needs to help one another connect the dots and solve…
More robots may soon be just outside your window. Skyline Robotics this week announced the completion of a $3.35 million funding round that it plans to use for its ongoing 2023 businesss operations plan. The company has developed OZMO, which it claimed is “the world's first high-rise window-cleaning robot.” “Despite a difficult economy, Skyline Robotics remains an attractive target to investors and was able to raise funding at more attractive terms than in previous rounds, which is uncommon in today’s market,” said Michael Brown, CEO of Skyline Robotics, in a release. “This vote of investor confidence is based on validated…
While many warehouse operators are aware of the challenges posed by labor shortages and shifting demand, they may not know how automation can help them in the “last 100 feet,” according to enVista LLC. SLAM line automation is one approach to addressing this challenge, it said. Founded in 2002, enVista builds physical and digital systems to help optimize supply chains, serving manufacturers, distributors, third-party logistics providers (3PLs), and omnichannel retailers. The company, which has offices in Carmel, Ind., and Chicago, also provides consulting and managed services. At ProMat 2023, enVista executives explained their roadmap for helping customers integrate robotics. Last…
indie Semiconductor and SiLC Technologies Inc. today said they have formed a strategic technology partnership to offer integrated frequency modulated continuous wave, or FMCW, lidar sensors. The companies said their jointly developed platform can be used in applications including driver assistance, autonomous mobility, robotics, and industrial automation. “We are excited to partner with indie to bring industry-leading FMCW-based LiDAR platforms to market,” stated Ralf Muenster, vice president of business development and marketing at SiLC. “Our state-of-the-art FMCW lidar sensor features the highest integration, resolution, precision, and longest range of any other competing approach, while remaining the only commercially available solution…
From trade conflicts and the COVID-19 pandemic to chronic labor shortages, supply chains have been under stress for the past few years. CloudSort Corp. claimed that it has “reimagined” how to move packaged goods, starting with the middle mile between distribution centers and warehouses. The Seattle-based company said its cloud-based network can optimize shipping operations through its partnerships with carriers and warehouses to sort cargo and increase its density, as well as more efficiently use warehouse space. Founded in 2019, CloudSort said it challenges the conventional “hub and spoke” transportation model, which is expensive to build and maintain and closed…
Innoviz Technologies today announced that it and the BMW Group are starting the first development phase in their development of a new generation of lidar sensors. Under their expanded agreement, Innoviz will develop B-Samples based on its second-generation InnovizTwo sensor. “Lidar is one of the critical technologies underpinning Level 3 or even higher automated functions,” stated Nicolai Martin, senior vice president for driving experience at BMW Group, in a release. “Optimizing lidar technologies and costs are the major challenges in order to bring Level 3 highly automated driving into the mainstream” “We are very pleased to have Innoviz develop the…
Cyngn Inc. today announced an agreement with wood products supplier Arauco to deploy an initial 100 autonomous electric forklifts. The DriveMod-enabled systems will help make Arauco's operations more efficient, said the company. “Arauco has a large forklift fleet and an even larger vehicle fleet,” noted Ben Landen, vice president of business development at Cyngn. “It does so many moves with forklifts—particularly difficult and heavy moves—that we want to reach a world where no human has to be in proximity of a working forklift.” “Typically, our best customers fall into the challenges of labor shortages, the cost of labor, or safety,…
Last week, the Seoul Metropolitan Government, or SMG, announced its intention to be a “robot-friendly city.” It said it plans to establish a technology investment fund, introduce robotic services in healthcare facilities, and build the Suseo Robotics Cluster startup and venture hub. SMG said in a release that it plans to invest ₩202.9 billion (about $160 million U.S.) through 2026 in becoming a leader in the robot services industry. It said the Seoul Comprehensive Robotics Industry Development plan is partly intended to respond to the challenge of an aging population. South Korea has one of the world's lowest birth rates,…
Mobile robots and automated lift trucks are increasingly common, but companies also need reliable support and actionable data insights, according to The Raymond Corp. At recent trade shows, the Toyota Industries Company demonstrated how its technologies fit into customer processes. Raymond provides hardware and software for intralogistics operations. The Greene, N.Y.-based company's high-capacity 5600 Orderpicker this week received a gold award in the actuators, motors, and drives category in Plant Engineering's 2023 “Product of the Year” program. Robotics 24/7 spoke with Martin Buena-Franco, product marketing manager of automation at Raymond, about the company's lift trucks, telematics, and service strategy. Areas…
Locus Robotics Corp. today broke ground for its new global headquarters near Boston. The company said the new facility in Wilmington, Mass., will serve as the hub for its growing global operations and will provide room for future expansion. “We're thrilled to break ground on our new headquarters in Wilmington,” stated Rick Faulk, CEO of Locus Robotics, in a release. “This is a significant milestone that reflects our robust growth trajectory and our dedication to revolutionizing the warehouse automation sector with cutting-edge, AI-driven robotics solutions.” Spinning out of Quiet Logistics in 2014, Locus offers autonomous mobile robots (AMRs) that collaborate…
Mobile robots and autonomous lift trucks promise to improve flexibility and agility, but how can warehouse and factory operators be sure of reaping those benefits? Uncertainty has held back adoption of new technologies, but suppliers have recognized the challenge and are addressing it with easier-to-use systems and close collaboration with prospective customers. Hyster-Yale Materials Handling Inc. provides manual and automated lift trucks plus accessories through its subsidiaries, Hyster Co. and Yale Lift Truck Technologies. Yale said at ProMat 2023 that it expects autonomous mobile robots (AMRs) to be as much as 50% of its business in the next few years.…