Title: EU Review Stalls Amazon’s iRobot Deal, While Robotics Industry Sees Robust Funding
In the robotics industry, this week brought a mix of positive news for nascent companies securing new investments, while established players faced setbacks. Amazon’s potential $1.7 billion acquisition of iRobot, previously approved by the UK antitrust regulators, is now undergoing a detailed review by the European Union (EU).
Amazon’s deal with iRobot is facing delays as the EU conducts an extensive examination of the acquisition. Brian Heater, our resident robotics expert, offers additional analysis on the deal and pays tribute to the late industry legend, Joanne Pransky, in the latest edition of his Actuator newsletter (subscribe to receive these updates every Thursday).
Amidst the iRobot acquisition delay, promising developments have occurred in the robotics space. Swiss startup Verity recently announced a fresh round of funding, following its $32 million Series B funding in March. Verity’s collaboration with Ikea, which involved deploying 100 drones across 16 warehouses in Europe, has attracted considerable attention from the industry. The additional funding will allow Verity to scale its operations and cater to the growing demand for supply chain automation.
In the field of wildfire detection, Pano AI has been developing cameras that can autonomously identify wildfires. Their advanced technology recently provided early warnings for the Kutch Road Fire, a full 14 minutes ahead of the first emergency call. Recognizing the rising global concerns over wildfires due to increased temperatures, Pano AI announced an extension of its $20 million Series A funding with an extra $17 million. This funding will bolster their efforts in combating wildfires through innovative technology solutions.
While Verity focuses on warehouse automation, Simbe, another robotics company, focuses on store monitoring. Simbe’s robots roam around stores, monitoring inventory within reach of customers. The company recently secured a $28 million Series B funding round, building upon its $26 million Series A funding from late 2019. This came shortly after Simbe signed a deal to place its Tally robots in all BJ Wholesale Club locations.
Construction projects, particularly those involving offshore wind farms, require surveying, inspection, and monitoring. Bedrock’s autonomous underwater vehicles have been developed to fulfill these tasks, eliminating the need for costly crewed survey ships. To expand their mission, Bedrock recently announced $25.5 million in new funding. Interestingly, their focus has shifted towards selling the valuable data collected by their autonomous explorers, rather than solely concentrating on the hardware itself.
For those seeking the latest news and insights in the robotics industry, Brian Heater’s Actuator newsletter provides an informative resource. By subscribing, readers can receive weekly updates and commentary on the latest developments in the field.
The robotics industry has witnessed a mix of triumphs and hurdles in recent times. While Amazon’s iRobot deal is facing an extensive EU review, nascent companies such as Verity, Pano AI, Simbe, and Bedrock have managed to secure significant funding to drive their innovative solutions forward. These advancements within the robotics sector promise to revolutionize supply chain automation, wildfire detection, store monitoring, and offshore construction projects.
