Robotics is an ever-evolving industry and the pandemic has definitely forced the sector to transition quickly. In 2012, Amazon acquired Kiva to create an industry of robotics and since then, there has been a flurry of investments into the sector. As businesses shift to meet customer demand during this pandemic, the market for robotics has seen an explosion of growth. This has shown that robotics solutions are ready for the market and are being adopted by businesses of all sizes.
Robotics is a fascinating field that offers solutions a decade from the present. While it’s hard to make these solutions truly robust and repeatable, the pandemic has created a tangible shift towards robotics investments as businesses see the need for automation that requires little training. As the economic crisis continues, robotics is becoming increasingly attractive for investors looking for long-term solutions over quick gains.
From construction to healthcare and beyond, robotics has entered many different industries and generalists robots are becoming the norm. Looking ahead to 2023, investments are likely to increase and focus on creating solutions that can solve large-scale problems. The focus will be on developing general purpose robots, autonomous vehicles and robotic solutions in the home such as the Instant Pot of stir fry.
In order to move the category forward and make sure solutions are created in an effective and timely way, collaboration is needed between the public sector – such as defense funding – and the private sector. Robotics is not only beneficial in improving business operations, but can also help fight climate change by automating grid systems and offering robotic solutions that are self-sustaining from the sun.
Robotics as a Service (RaaS) is gaining traction and is a way for companies to finance automation solutions. It’s apparent that robotics will become even more popular over the coming years as technology continues to improve and people look for solutions for labor shortages.
We spoke to 13 top robotic VCs to give insight into the state of robotics investing and what the future looks like. These experts interacted with investors, discussed challenges in their industry, and shared hopes for future robotics solutions.
TechCrunch said it has been a few years since its robotics investor survey, so to gain more information it is requesting that investors take part in its polls. TechCrunch encourages investors to fill out the form and join their surveys.
Google features one of the most innovative robotics projects, the PaLM-E, which is a generalist robot that is voice-activated. This basic example of a generalist robot that can carry out tasks shows the potential and possibilities of the robotics industry. Additional investments in the sector could lead to automated solutions that help people in their homes with kitchen tasks as well as solutions to reduce labor shortages in different industries.
When it comes to understanding where the future of robotics is going and the trend for 2023, it’s important to keep talking to experts and investors. Companies and investments play a key role in driving the industry forward and finding solutions that can help address climate change. As long as confidence continues, robotics remains an exciting and ever-growing sector with immense potential to revolutionize operations across departments.
Locus is one of many companies leading the way in the robotics industry. Founded in 2015 and located in Boston, it provides a portfolio of autonomous mobile robots and related accessories for the logistics industry. It strives to build products that make humans smarter and deliver superior operations to customers. Locus has raised over $87 million in funding, with investments from Rakuten, Honeywell and Sompo Ventures.
Jim Baer is one of the VCs featured in the survey, a Managing Director at SoftBank robotics. Baer holds deep expertise in robotics and its application across a variety of industries. He was one of the earliest to recognize robots’ potential in warehousing, having wrapped up successful projects before the pandemic. Baer has a strong background in both engineering and business and is a sought-after business and robotics expert.
