In Episode 162 of The Robot Report Podcast, co-hosts Steve Crowe and Mike Oitzman discuss the latest robotics news from the last week, including a review of the July funding report, which topped $1.3B. 1X also unveiled the NEO Beta humanoid model and prepares for pilot deployments into test home environments.
The recent news of the Covariant AI acqui-hire by Amazon is an interesting strategic move by the retailing giant. Both companies declined to comment on the details of the Covariant acquisition, so we asked ex-Amazon robotics leader and current CEO and founder of Collaborative Robotics, Brad Porter, to join us on the show to share his insights into the state of AI development and why this is an exciting move by Amazon.
To learn more about Collaborative Robotics, goto: www.co.bot/
If you would like to sponsor a future episode of The Robot Report podcast, contact Courtney Nagle: cnagle@wtwhmedia.com
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News of the week
1X Technologies AS has unveiled the NEO Beta prototype of its humanoid robot, marking a significant step toward its planned pilot deployments in select homes later this year. Bernt Børnich, CEO of 1X, emphasized safety as the company’s top priority. “Safety is the cornerstone that allows us to confidently introduce NEO Beta into homes,” Børnich stated. “It will gather essential feedback and demonstrate its capabilities in real-world settings.”
Robotics investments continued to surge in July 2024, reaching approximately $1.3 billion. This marked a slight increase compared to the 12-month average of $1.2 billion, driven by 47 investments in robotics companies. The cumulative funding for the first seven months of the year reached $9.7 billion, exceeding the $8 billion raised during the same period in 2023. While June saw a significant spike due to two large investments in autonomous vehicle companies, July’s total remained robust.
Two notable investments in July went to software companies: Applied Intuition and Skild AI, both securing $300 million each. Applied Intuition focuses on simulation and other software solutions for autonomous vehicles, while Skild AI develops robotics foundation models. Another significant investment was made in Monarch Tractor, an agribotics company based in California. The company raised $133 million in Series C funding to further develop its autonomous operations product, Autodrive, and expand its global footprint.
The restaurant and hospitality sectors also attracted investments in robotics. Botrista Technology, a provider of robotic beverage production platforms, secured $65 million, while OakDeer Robotics, specializing in food cooking robots, raised $27 million. These investments highlight the growing interest in robotics across various industries.
Swiss-Mile, a robotics company spun out of ETH Zurich, has secured $22 million in seed funding. The company’s unique wheeled quadruped design sets it apart from traditional quadruped robots like Boston Dynamics’ Spot or Unitree’s Go2. Swiss-Mile has been conducting pilots with customers, focusing on applications such as last-mile delivery in smart cities and security for critical infrastructure.
The company’s founders initially used ANYbotics’ ANYmal quadruped during their research at ETH Zurich. Since its incorporation, Swiss-Mile has been utilizing the Unitree B2 platform to develop its embodied AI. Notably, the funding round was led by Jeff Bezos’ Bezos Expeditions and HongShan.
Live feed from the 2024 Indy Autonomous Challenge: