Neura Robotics offers robots for a variety of applications and industries.
NEURA Robotics GmbH today said it has raised €120 million ($123.3 million U.S.) in Series B funding. The Metzingen, Germany-based company said the investment validates its leadership in “cognitive robotics” and in European robotics as the region collaborates and competes with the U.S. and China.
“Cognitive robotics is expected to become bigger than the smartphone,” stated David Reger, founder and CEO of NEURA Robotics. “I am proud that NEURA is the first one to ship a commercially-viable cognitive robot and remains the only humanoid robotics company in Germany. This investment shows the confidence our investors have in my team and in pioneering advanced robotics in Europe.”
Founded as Han’s Robot in 2019, NEURA Robotics has integrated sensor technology, robotics, and artificial intelligence. The company claimed that it has built “the world’s first cognitive cobot in the market,” able to learn from its environment, autonomously make decisions, and adapt to dynamic production scenarios.
NEURA grows Neuraverse ecosystem
NEURA Robotics said it has designed its systems to work closely with people in industries such as manufacturing, logistics, and healthcare. Its product line includes the LARA and MAiRA collaborative robot arms, the MAV autonomous mobile robot (AMR), the MIPA mobile manipulator, and the 4NE-1 humanoid.
In February 2024, NEURA moved production from China to Germany. In April, it partnered with Omron Robotics and Safety Technologies Inc. to bring cognitive robotics to manufacturing. NEURA is also working with Kawasaki Robotics (USA) Inc. on the CL Series cobots.
“Looking to the future, NEURA Robotics is not just focused on its own expansion, but also on the sustainable long-term growth of the cognitive robotics category from the heart of Europe,” the company said.
NEURA plans to use its latest funding for further research and development for new products. It said its Neuraverse platform or ecosystem will include an operating system for cognitive robots and a marketplace for robotic skills that will accelerate innovation.
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Investors back company growth
In the past year, NEURA Robotics said it has doubled its workforce to more than 300 people and achieved 10x revenue growth. The company also reported that it has secured orders worth up to €1 billion (about $1 billion).
Lingotto Investment Management led NEURA’s Series B round. BlueCrest Capital Management, Volvo Cars Tech Fund, InterAlpen Partners, Vsquared Ventures, HV Capital, Delta Electronics, C4 Ventures, L-Bank, founder Reger, and others participated.
“NEURA’s exceptional technological expertise and groundbreaking innovation are transforming both industrial and consumer robotics,” said Nikhil Srinivasan, managing partner of Lingotto Horizon. “With phenomenal AI capabilities, an extraordinary growth trajectory, and a billion-dollar order book, NEURA is on track to potentially becoming a multi-billion-dollar company and one of the most prominent robotics companies in the world.”