August 2023 Robotics Investments Total US $2.1 Billion

September 2023 robotics funding totaled $1.84 billion, the result of 50 investments. Total funding for the months of January 2023 through September 2023 equals approximately $10.7 billion.

September 2023 Robotics Investments Total $1.84 Billion

Robotics investment for the month of September 2023 totaled $1.84 billion, the consequence of 50 investments (See Table 1 below or download Table 1 HERE). Total funding for the months of January 2023 through September 2023 equals approximately $10.7 billion.

Table 1: September 2023 Robotics Funding and Investment

Company Name Amount Type Country Tech-Prod-Services Description
AeroVironment $109,007,119 Other USA Drones AeroVironment specializes in unmanned aircraft systems and electric vehicle charging solutions.
Agora Robotics Estimate Pre-Seed Romania Indoor Mobile Robots Agora Robotics provides easy to use, autonomous mobile robots.
AIS Field Estimate Seed Turkey Unmanned Underwater Vehicles, Other Industrial Systems AIS Field provides a range of robotic inspection and maintenance services for the oil and gas, energy and power generation industries..
Anqing Technology Estimate Other China Software Anqing Technology is a provider of UAV traffic management services and equipment, as well as safe autonomous flight technology.
Ascento $4,300,000 Pre-Seed Switzerland Outdoor Mobile Robots Ascento produces a compact and agile jumping robot designed for mixed environments.
Aurrigo International $901,000 Other United Kingdom Indoor Mobile Robots, Outdoor Mobile Robots, Autonomous Transportation Systems Aurrigo develops autonomous vehicles for airport baggage/cargo handling, security/patrol and passenger movements.
AutoCore Estimate Series B China Software AutoCore is a provider of intelligent mobility software, automotive electrical, and electronic architecture solutions.
Benmo Technology (Direct Drive Tech) Estimate Series A China Actuators / Motors / Servos Benmo Technology offers direct-drive power solutions to providers of robotics systems, exercise equipment, and other products.
Blue Ocean Robot $13,704,262 Series C China Indoor Mobile Robots, Autonomous Forklifts Blue Ocean Robot is a provider of autonomus mobile robots and management systems.
Boxbot $12,000,000 Series A USA Automated Storage & Retrieval Systems Boxbot provides storage and retrieval system that adapts to varying cubic dimensions.
Calyo $1,634,079 Other City of Sensors/Sensing Systems Calyo is developing 3-D ultrasound sensor technology for use in highly automated vehicles and platforms.
Cambrian Intelligence $2,999,998 Other United Kingdom Sensors/Sensing Systems, Video/Vision/Imaging Cambrian Intelligence offers visioning technology for robotics systems.
Changguangxi Intelligent Manufacturing $13,705,013 Series A China Collaborative Robots, Articulated Robots Changguangxi Intelligent Manufacturing focuses on the design and manufacturing of robots, intelligent motion technologies, and other items.
CMR Surgical $163,948,774 Series D United Kingdom Surgical/Interventional Systems CMR Surgical develops a surgical robotic system for minimal access surgery.
Deveron UAS $1,486,712 Other Canada Operator Services – Drones, Data Acquisition/Processing/Management Deveron UAS is a one-stop full-service UAS company that uses data produced by imagery and software analytics.
Diamon Robotics (Daimeng Robot) Estimate Other China Humanoids/Bipeds Daimeng Robot is creating a series of general-purpose humanoid robots.
Dilberg (DareRobot) Estimate Other China Articulated Robots Dilberg (DareRobot) provides robotics systems for heavy industrial manufacturing operations.
Diligent Robotics $25,000,000 Other USA Humanoids/Bipeds Diligent Robotics develops humanoid robot assistants for work in the heathcare sector.
Driveblocks $2,355,586 Seed Germany Software Driveblocks offers a mapless autonomy platform that enables heavy duty vehicles to detect objects and perceive their sourrounding without relying on high-definition maps.
Eyebot $1,000,000 Pre-Seed USA Other Commercial Systems Eyebot is developing rapid vision exam technologies for eyeglass.
FERNRIDE $19,000,000 Series A Germany Autonomous Transportation Systems FERNRIDE provides autonomous, electric trucking solutions.
Flygildi ehf $2,200,000 Seed Iceland Drones Silent Flyer offers a flapping-wing bird-like drone with wings that can morph their shape during flight and fold into the body.
GL INS Estimate Seed South Korea Articulated Robots, Collaborative Robots GL INS is a company specializing in the development of industrial robots, industrial modules and automation facilities.
Gugong Robot Estimate Other China Indoor Mobile Robots, Exoskeletons Gongong Robot is a manufacturer of robotics solutions for the construction sector.
Hong Jing Drive $13,755,536 Series B China Microcontrollers/Microprocessors/SoC, Software, Sensors/Sensing Systems Hong Jing Drive provides a computing platform for autonomous driving vehicles.
insideFPV $422,289 Seed India Drones insideFPV provides customized ready to fly First Person View (FPV) drones.
Kodiak Robotics $75,000,000 Other USA Software, Sensors/Sensing Systems Kodiak Robotics develops autonomous technology for long-haul trucking.
Loop Technology Estimate Seed United Kingdom Consulting/Engineering, Articulated Robots, Sensors/Sensing Systems Loop Technology provides industrial automation products and services.
Miso Robotics $551,384 Other USA Articulated Robots, Sensors/Sensing Systems Miso Robotics provides robotics and intelligent automation solutions to the commercial food service industry.
Monumental Labs Estimate Seed USA Articulated Robots, Sensors/Sensing Systems, Software Monumental Labs is building AI-enabled robotic stone carving factories.
Mujin $85,000,000 Series C Japan Articulated Robots, Controllers, Sensors/Sensing Systems Mujin offers automation solutions and industrial robots to for factory and logistics operations.
NakAI Robotics Estimate Seed Israel Unmanned Underwater Vehicles NakAI Robotics offers an underwater robot that cleans ships’ hulls while the vessel is in motion.
Nauticus Robotics $20,000,000 Other USA Unmanned Underwater Vehicles, Consulting/Engineering Nauticus Robotics provides unmaned underwater vehicles and engineering services.
OnSight Estimate Seed USA Outdoor Mobile Robots OnSight produces an autonomous and teleoperated unmanned ground vehicle (UGV) that detects, reports, and observes issues and anomalies on solar farms.
Perceptual Robotics Estimate Other City of Drones, Operator Services – Drones, Data Acquisition/Processing/Management Perceptual Robotics provides intelligent automation solutions based on unmanned aerial systems for wind turbine and other infrastructure inspection.
Puncture Robotic $13,618,412 Series A China Surgical/Interventional Systems Puncture Robotic develops venipuncture robots that help in conducting blood collection without human intervention.
Q-Bot $4,371,366 Other United Kingdom Indoor Mobile Robots Q-Bot produces mobile robots that spray insulation under floors.
REEV $3,190,508 Seed France Prosthetic/Orthotic Systems, Rehabilitation/Therapeutic Systems, Exoskeletons REEV provdes lightweight and intelligent wearable robotic orthoses providing knee assistance while walking, sitting, standing and climbing stairs.
Robocon $11,000,000 Other South Korea Articulated Robots Robocon is a developer of robotics and automation equipment designed for the production of rebar for the construction and steel industries.
Shield AI $150,000,000 Other USA Drones, Software Shield AI offers an AI pilot for aircraft and autonomus aerial vehicles.
silana Estimate Seed Austria Articulated Robots, Video/Vision/Imaging silana is developing robotics and other technologies that automate manual sewing processes.
Sojo Industries $2,800,000 Seed USA Articulated Robots, System Integration/Programming Sojo Industries develops robotic assembly and packaging solutions for the food and beverage industries.
Square Robot $5,000,000 Other USA Unmanned Underwater Vehicles Square Robot builds robotic systems for submerged oil and gas inspections in above ground storage tanks.
Stack AV $1,000,000,000 Other USA Software, Sensors/Sensing Systems, Microcontrollers/Microprocessors/SoC Stack AV develops advanced autonomous systems technologies for the trucking industry.
Tethys Robotics $164,445 Other Switzerland Unmanned Underwater Vehicles Tethys Robotics develops underwater drones that enable underwater search & recovery to inspection & surveillance.
Treeswift $10,811,986 Other USA Drones, Data Acquisition/Processing/Management Treeswift utilizes robotics and machine learning for forestry applications.
UnitX Estimate Other USA Sensors/Sensing Systems, Video/Vision/Imaging, Software UnitX provides AI-powered machine vision solutions for the manufacturing industry.
Virtual Incision $30,000,000 Series C USA Surgical/Interventional Systems Virtual Incision develops a miniaturized surgical robotic support device for colon resection.
Waste Robotics $7,308,199 Other Canada Video/Vision/Imaging, Sensors/Sensing Systems, Arms/Manipulators Waste Robotics designs and delivers intelligent robots for use in recycling centres.
Zhuji Dynamics $120,000 Pre-Seed China Quadrupeds, Humanoids/Bipeds Zhuji Dynamics offers leggd robotics systems.

Companies located in the USA, China and Israel received the most rounds and the most funding amounts, dwarfing other countries (Figure 1, below). Companies based in the USA received the majority of the rounds (23), which resulted in a total funding inflow of $537 million. Firms based in China attracted $141 million in funding (coming from 17 investments), while four investments in Israeli companies accounted for $94M in investment.

The types of businesses and their offerings varied widely among the funded companies. As usual, companies offering robotic surgical systems and enabling technologies attracted sizable rounds. CMR Surgical ($164 million) and Virtual Incision ($30 million) serve as examples.

Also consistent with 2023 funding trends, providers of self-driving software and hardware solutions for autonomous transportation, also received substantial funding. Stack AV ($1 billion), Kodiak Robotics ($75 million), FERNRIDE ($19 million) and AutoCore ($10 million), exemplify.

Companies offering unmanned aerial vehicles (drones), usually coupled with drone enabled data and analytics services, continue to receive sizable funding rounds. These providers typically focus on surveying and inspection applications for their offerings, with construction, agriculture, utilities and energy sectors as the target markets. Suppliers offering solutions to the defense and security sectors also attracted funding. Examples include AeroVironment ($109M), Treeswift ($11M), Shield AI ($150M), and Perceptual Robotics ($3M).

September 2023 Robotics Investments

Figure 1: September 2023 Robotics Investment by Country

For both the total number of investments and the total amount of investment, most funding fell under the aegis of ‘Other’, a catchall descriptor for investments that do not include the typical stages of funding that businesses go through before their initial public offering (ex. Seed rounds followed by Series A, B, C, D and E funding). A single Series D round (CMR Surgical, $164M) accounted for approximately 9% of Septembers 2023’s funding totals.

September 2023 Robotics Investments

Figure 2: September 2023 Robotics Funding Amounts by Investment Type

September 2023 Robotics Investments

Figure 3: September 2023 Robotics Funding Amounts by Investment Number and Amounts

Editor’s note: What defines robotics investments? The answer to this simple question is central in any attempt to quantify them with some degree of rigor. To make investment analyses consistent, repeatable, and valuable, it is critical to wring out as much subjectivity as possible during the evaluation process. This begins with a definition of terms and a description of assumptions.

Investors and Investing
Investment should come from venture capital firms, corporate investment groups, angel investors, and other sources. Friends-and-family investments, government/non-governmental agency grants, and crowd-sourced funding are excluded.

Robotics and Intelligent Systems Companies
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 technologies for robots, or services supporting robotics devices. For this analysis, autonomous vehicles (including technologies that support autonomous driving) and drones are considered robots, while 3D printers, CNC systems, and various types of “hard” automation are not.

Companies that are “robotic” in name only, or use the term “robot” to describe products and services that do not enable or support devices acting in the physical world, are excluded. For example, this includes “software robots” and robotic process automation. Many firms have multiple locations in different countries. Company locations given in the analysis are based on the publicly listed headquarters in legal documents, press releases, etc.

Funding information is collected from a number of public and private sources. These include press releases from corporations and investment groups, corporate briefings, market research firms, and association and industry publications. In addition, information comes from sessions at conferences and seminars, as well as during private interviews with industry representatives, investors, and others. Unverifiable investments are excluded and estimates are made where investment amounts are not provided or are unclear.

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