NEURA Robotics has announced the successful closure of a €120 million (approximately $123.3 million) Series B funding round, marking a pivotal development in the realm of cognitive robotics. Based in Metzingen, Germany, the company has been pioneering advancements in robotics that integrate artificial intelligence to create systems capable of learning and adapting autonomously.
The funding round was spearheaded by Lingotto Investment Management and saw participation from notable investors including BlueCrest Capital Management, Volvo Cars Tech Fund, InterAlpen Partners, Vsquared Ventures, HV Capital, Delta Electronics, C4 Ventures, L-Bank, and founder David Reger alongside other private investors. This financial milestone underscores the growing confidence in NEURA Robotics' vision and technology, as the European robotics sector finds itself navigating competitive pressures from the U.S. and China.
Founder and CEO David Reger expressed optimism about the implications of cognitive robotics, predicting its potential to overshadow technologies as critical as smartphones. "I am proud that NEURA is the first one to ship a commercially-viable cognitive robot and remains the only humanoid robotics company in Germany," Reger stated. This underscores NEURA's pioneering role in a field that is rapidly evolving.
NEURA Robotics, initially founded as Han’s Robot in 2019, has managed to carve out a niche for itself in cognitive cobots—a fusion of collaborative robots with capabilities to perceive and autonomously make decisions in real-time. The company's landmark achievement includes launching what it claims is "the world's first cognitive cobot," a system purportedly able to dynamically adjust to its environment. These advancements have positioned the company to capitalize on growing sectors such as manufacturing, logistics, and healthcare.
Recent strategic business shifts have seen the company relocate production operations from China back to Germany as of February 2024, a move that aligns with its broader ambition to be a frontrunner in European robotics. Collaborations have also strengthened NEURA's standing in the industry; in April, it forged a partnership with Omron Robotics and Safety Technologies to infuse cognitive elements into manufacturing processes and is also collaborating with Kawasaki Robotics in the U.S.
The firm plans to allocate the newly acquired funds towards enhancing its research and development efforts, aiming to unveil new products while expanding the Neuraverse ecosystem. This ecosystem is envisioned as a comprehensive platform housing an operating system for cognitive robots, alongside a marketplace that could accelerate access to robotic skills and innovations.
Taking stock of its recent accomplishments, NEURA Robotics has more than doubled its headcount over the past year, employing in excess of 300 staff members. Financially, the company has witnessed a remarkable 10-fold increase in its revenue streams and boasts an impressive order book valued at around €1 billion.
Investor sentiments mirror the company's optimistic outlook. Lingotto Horizon’s managing partner, Nikhil Srinivasan, lauded NEURA's transformative approach to both industrial and consumer robotics, recognizing the firm's advanced AI capabilities and suggesting the firm is "on track to potentially becoming a multi-billion-dollar company."
The infusion of new capital reaffirms the auditory shift in robotics and artificial intelligence, with NEURA Robotics poised to spearhead these advancements from the heart of Europe. As the company gears up for future growth, all eyes are set on how it will navigate the evolving landscape of cognitive robotics.
.png)
