When investigating industrial warehouses, it’s not uncommon to find protective cages. This serves as an extra safety measure to make certain that robotics do not cause damage to people; these machines are constructed of metal and can be bigger and faster than us humans, who are frail and sometimes careless. Although there are flaws in this tactic, it’s been the best option for a lengthy period of time.
As automation becomes more and more pervasive in these areas, the potential for accidents rises. This is what Veo Robotics of Massachusetts is all about, creating applications aimed at making the coexistence of people and robots in the same environment safe and secure.
Today, the startup declared that it concluded its $29 million Series B, comprising of the $15 million raised in the past year and an additional $14 million obtained in 2023. This round of financing was supported by Safar Partners and Yamaha Motor Ventures, among others, including well-known investors like Google Ventures and Baidu Ventures.
Notable amongst the investors is Amazon, which contributed $1 billion to the Industrial Innovation Fund announced nearly a year ago. Since inception, robotics have been a major area of attention for the fund and some of its early investments went to Agility Robotics, BionicHIVE and Mantis Robotics.
Since buying Kiva Systems in 2012, Amazon has been gradually building up its own robotic forces. Although Amazon denies that its money is used for this purpose, it can be seen as a sign of trust and probably an implication that the business is running tests using this technology in its own operations – if they haven’t done so already. Veo has stated that the new capital will be used to expedite their collaborations with corporate allies.
Co-founder and CTO Clara Vu asserted that the most recent type of robotic systems collaborate with people rather than operate apart from them. She added that in order for this notion to be realized, new safety systems need to be established, and that this is Veo’s purpose. Vu spoke highly of the endeavor, expressing her enthusiasm.
Amazon’s setup has traditionally been closed off. The Kiva bots, for example, were all in a space that needed safety features for a person to get in, and its robotic arms operated in individual zones. However, recently the business has started introducing new methods such as Proteus, which allows for humans and robots to come into closer contact.
Matt Peterson, the director of Industrial Innovation Fund, commented that they were attracted to Veo Robotics’ preoccupation with safety in the workplace. He noted that their technology is cooperative and efficient, with employee wellness being a main focus. He is enthused to back Veo Robotics and their purpose to create cutting-edge and humanized robotics.