The field of robotics is undergoing a wave of innovation, with numerous startups harnessing artificial intelligence (AI) to revolutionize various industries. Robotics startups are increasingly launching advanced systems that utilize machine learning and artificial intelligence. The global robotics industry is expected to achieve a combined revenue exceeding $70.6 billion by 2028.
Here are some of the leading robotics startups to watch for:
1. Figure
- Location: Sunnyvale, California
- Founder(s): Brett Adcock
- Founded: 2022
- Funding: Series B, $845 Million
- Investors Include: NVIDIA, Aliya Capital Partners, Microsoft
The Figure, an AI robotics startup, is known for its versatile humanoid robot, Figure 01. Designed to address labor shortages and perform undesirable or unsafe tasks, Figure 01 combines human-like agility with advanced AI technology. This robot aims to surpass task-specific robots’ capabilities, providing assistance across industries such as manufacturing, logistics,
2. Bedrock Ocean Exploration
- Location: Brooklyn, New York
- Founder(s): Anthony DiMare, Charles Chiau
- Founded: 2020
- Funding: Series A, $35.5 Million
- Investors Include: Northzone, R7 Partners, Quiet Capital
An estimated 80% of the world’s oceans remain unmapped and unexplored. To address this, Bedrock Ocean Exploration develops autonomous underwater vehicles (AUVs) designed for high-resolution marine surveys and mapping uncharted areas of the ocean floor. Their innovative technology aims to expand our understanding of the largely unknown underwater world.
3. Company Six
- Location: Boulder, Colorado
- Founder(s): Andy Savage, Jim Booth, Jon Carroll, Jose Felvie Condrillon, Josh Savage, Paul Berberian
- Founded: 2019
- Funding: Series Unknown, $6.9 Million
- Investors Include: Techstars, Spider Capital, Page One Ventures
Company Six develops reconnaissance drones for first responders and professionals working in high-risk environments. These drones enable users to thoroughly scan terrain or structures for potential dangers before entering themselves. Founded in 2019, Company Six secured $4.6 million in funding by July 2020.
4. Robust AI
- Location: Silicon Valley (San Carlos, California)
- Founder(s): Anthony Jules, Gary Marcus, Henrik Christensen, Mohamed Amer, Rodney Brooks
- Founded: 2019
- Funding: Series A, $42.5 Million
- Investors Include: Playground, Jazz Venture Partners, Future Ventures
Established in 2019, Robust AI focuses on the software aspect of robotics, developing technology to streamline the setup and implementation of new robotic systems. Using a cognitive engine and AI, Robust AI enables organizations to optimize the efficiency and reliability of their robotic operations
5. Voliro
- Year Founded: 2019
- Location: Zurich, Switzerland
- Funding: $2.3M (Seed)
- 5-Year Search Growth: 3,800%
- Search Growth Status: Peaked
Voliro specializes in enhancing the utilization of drones in construction. They offer advanced unmanned flying robots capable of efficiently operating at heights, ensuring the protection and maintenance of site infrastructure. The company provides a robotics platform supported by both proprietary and third-party application
6. Vecna Robotics
- Location: Waltham, Massachusetts
- Founder(s): Daniel Patt, Daniel Theobald
- Founded: 2018
- Funding: Series C, $128.5 Million
- Investors Include: Highland Capital Partners, Tiger Global Management, Impulse VC
Founded in 2018, Vecna Robotics develops self-learning autonomous mobile robots aimed at automating various manual tasks for businesses. What distinguishes these robots is their capability to adapt automatically to changes in the workplace and new challenges, enhancing operational efficiency.
7. Covariant
- Location: Emeryville, California
- Founder(s): Peter Chen, Pieter Abbeel, Rocky Duan, Tianhao Zhang
- Founded: 2017
- Funding: Series C, $222 Million
- Investors Include: Index Ventures, Amplify Partners, Northgate Capital
Covariant is a robotics startup specializing in AI-powered solutions for the logistics and supply chain industries. The company’s flagship product, the Covariant Brain, serves as a universal AI platform enabling robots to autonomously perceive, reason, and act in complex and dynamic environments. By integrating advanced computer vision, machine learning, and motion planning capabilities, Covariant aims to automate tasks such as picking, placing, and sorting objects in warehouses and distribution centers.
Recommended reading:
- Top Robotics Conferences in 2024
- Exploring the World of Virtual Robotics: A New Frontier in Learning
- Introduction to Robotics for 12-Year-Old: A Fun and Educational Adventure
- Top Trends In Robotics – 2024
- The Role of Robotics in Improving Work-Life Balance
- Robots, Robots Everywhere: The Role of Robotics Engineers in Our Live
- Crafting The Perfect Robotics Homeschool Curriculum
Conclusion
This concludes our list of the top robotics startups with strong growth potential in 2024 and beyond.
As the number of AI and robotics companies continues to grow, we can expect to see even more robotics startups emerge, targeting specific industries like e-commerce and healthcare.
Meanwhile, there have been steady improvements in industrial robots and unmanned autonomous mobility robots.
Over the next decade, we can anticipate similar innovations in the robotics industry as new technologies and software are developed.
Want to make your child future-ready with Robotics? Moonpreneur offers a tailor-made program. Reserve a spot in our free 60-minute workshop today and introduce them to the amazing world of robotics and innovations!
What does the future hold for the robotics industry?
The future of robotics is bright. We can expect to see increased automation, robotics integrated into everyday life, and further advancements in AI and robotics collaboration.