Why was Billions so successful in robotics and AI?

Why was Billions so successful in robotics and AI? ...

As more automation became a focus during the global epidemic, venture capital firms are attempting to invest in robotics firms in a wide range of industries, from shipping to healthcare.

According to PitchBook, globally funding for robotics and drone companies increased to $14.9 billion in 2021.

The amount of funding raised for robotics in 2022 has been stable. By January, VCs allocated $560 million to Wandelbots, a German industrial robotics company that raised $84 million for its Series C round in January. The funding for the company's no-code platform was also supported by Microsoft () and other businesses, including Microsoft () and 83North, Next47, Paua, Atlantic Labs, and EQT.

As further automation is sought, the potential for growth in the robotics industry is enormous, according to Angelo Zino, an equity analyst at CFRA, a New York-based investment research company.

Factory automation is a huge concern as new capabilities arise for both the industrial and consumer sectors, according to the author.

"It's a fast-growing market," Zino said. "It's clear that IoT is on the rise, and robotics is included in the spectrum. It's also greater automation across everything we do."

He claims that the increase in AI being utilized in technology and services is driving the market despite the fact that there has been a lot of change in all end markets.

This AI phase is significantly larger than the first two phases of the PC and mobile devices, Zino said.

Software has been a vital component of improving robot operation.

This is a massive holy grail for the IT industry of the next 20 to 30 years, Zino said. We're going to see a big explosion in the robotics arena due to the emergence of AI and all the work being done on the software side of things.

Investors are attracted to the robotics industry because the growth potential "becomes enormous," he said. "The cost of manufacturing these kinds of devices has become a reality and are not as costly."

Nursing Shortages: Robots

Increased artificial intelligence has led to the use of more robotics in many industries, which has been critical in industries such as nursing, who have had huge employees shortages because of Covid-19 and reduced burnout.

Diligent Robotics, a Texas-based company founded by two women, raised more than $30 million in April. It will be used to handle supply chain issues and hire more employees to deploy Moxi, a collaborative robot. Tiger Global and its existing investors True Ventures, DNX Venture, Ubiquity Ventures, E14 Fund, Next Coast Ventures, Boom Capital, and Gaingels also participated, along with a new investor, Cedars-Sinai Health Ventures.

According to Andrea Thomaz, the company's healthcare service robot co-founder, this new round of funding will help the company expand to meet the growing demand.

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Moxi, which debuted in 2018, works with clinical staff in delivering routine tasks such as delivery of medications and lab samples. It began its commercial deployments in 2020 and has worked with several hospital systems, including Mary Washington Healthcare in Fredericksburg, Virginia, which purchased more robots after its initial trial phase in December.

We could see the impact Moxi on our staff and how morale immediately increased, said Cody Blankenship, vice president performance improvement at Mary Washington Healthcare. We were so impressed with what Moxi took off our team's hands, we chose to add even more robots to our fleet.

Cedars-Sinai in Los Angeles said the robot had given healthcare workers more time to treat patients.

"Diligent Robotics' participation in the Cedars-Sinai Accelerator program led to the development of our clinical teams testing this solution with their clinical teams," said David Marshall, the chief nursing executive of Cedars-Sinai. "In our initial launch, using the robot to relieve front-line health care workers from point-to-point delivery and retrieval tasks has been fantastic."

The total investment by the company is just under $50 million.

"Robotic automation technology will be the focus of optimizing efficiency and productivity in health care operations," said Connie Lee, a partner at Tiger Global.

For cleaning, the shipping industry uses automation.

Neptune Robotics has raised $17.25 million in research and collaboration with commercial enterprises in Hong Kong and China to improve the ship's hulls.

According to cybersecurity manager Elizabeth Chan and her husband, Kate Hongqian Ma and Jacky Im, the company intends to expand to Asia along with Europe and the United States, recruiting additional employees, including engineers and marine biologists.

On a ship, the build up of microorganisms such as algae and barnacles may increase the amount of gasoline used by 15% and reduce fuel consumption.

We were immediately impressed with their dedication and desire to reduce marine logistics emissions, said Duncan Turner of SOSV/HAX. Unlike many other climate tech companies, Neptune can immediately make a significant climate impact (and they have already begun).

Recycling Techniques, Incidental Smaller Robots

Glacier, a San Francisco-based recycling robotics company, has raised $4.5 million from New Enterprise Associates and well-known executives, including Jeff Immelt, the former CEO of Uber, Manik Gupta, and Climate Tech's co-founder. Sophie Purdom is the star of New Enterprise Associates and the company's well-known executives.

The company had been working in stealth mode since 2019, but has recently launched its first commercial system at a Los Angeles facility with a robot capable of sorting eight commodity types across two sort lines, according to Rebecca Hu, the founder of the company.

Were also developing a best-in-class computer vision to identify everything in our waste stream, from broad categories like PET plastic, to highly specific items like cat food tins, she said. We now have an extraordinary degree of knowledge about what is in our trash. Our aim is to equip every participant in the recycling industry with this data intelligence.

Glacier claims that its robots are less expensive than other recycling facilities because they are customizable and significantly less labor-intensive. The robots are also much smaller and only require three feet of length for the conveyor compared to traditional ones that seek 912 feet.

The funding will be used to increase employment and focus on developing real-time waste intelligence for businesses and municipalities.

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