Industrial automation startup Mind Robotics, founded by Rivian Automotive CEO RJ Scaringe, has raised $500 million in funding, SiliconANGLE reported on March 12 local time.
The funding round was co-led by Accel and Andreessen Horowitz. In the round, Mind Robotics was valued at $2 billion.
Mind Robotics aims to develop AI-based industrial robots and is building multipurpose robots and a foundation model to operate them intelligently. It is also developing deployment infrastructure that can be used immediately in industrial and manufacturing environments.
Its cooperation with Rivian is also drawing attention. Rivian, a major shareholder and partner of Mind Robotics, plans to provide an environment to test and deploy the robots at its factories. Rivian also plans to supply Mind Robotics with a custom processor it is developing for autonomous vehicles. Scaringe said, "The goal is to develop robots that can create real value on the manufacturing floor, not just humanoid robots."
Chi-gyu Hwang
delight@d-today.co.kr