December 9, 2021
Robotic Research, which develops autonomous mobility and robotics technologies, has announced raising $228 million in Series A funding – the first outside capital the company has raised. The capital will be used to expand the company’s commercial division, RR.ai, which focuses on autonomous driving solutions for commercial truck, bus, drayage and logistics vehicles.
Investors in the Series A round include SoftBank Vision Fund 2, Enlightenment Capital, Crescent Cove Advisors, Henry Crown and Company, and Luminar Technologies.
“This investment reflects our success in developing autonomous solutions for our U.S. government customers, and will provide the resources needed to meet our growing commercial customer demand and the expansion of our commercial efforts,” said Alberto Lacaze, CEO of Robotic Research. “Our long history and experience has enabled us to develop a proven solution that is not only rugged, safe, and reliable, but also versatile for operating across a variety of environments, weather conditions, and use cases.”
The company said it has successfully deployed autonomous and robotics solution on roadways around the world, as well as in harsh, unstructured industrial environments. Its vehicle-agnostic autonomy kit, AutoDrive, has been integrated in several vehicles, including a heavy-duty transit bus, Class 8 trucks, and yard trucks. Robotic Research said AutoDrive can be used on-road, off-road, or in the yard, making it suited for autonomous driving solutions that spans a variety of complex operational design domains.
“We believe that autonomous vehicle technology has the potential to reshape how goods and people are moved around,” said Akshay Naheta, senior vice president of SoftBank Group Corp, and former managing partner at SoftBank Investment Advisers. “Robotic Research has a track record of operating in the commercial sector and has built a differentiated autonomy solution by focusing on tangible, revenue-generating opportunities. We are thrilled to be a financial partner and provide resources needed to accelerate the commercialization of Robotic Research’s solutions.”
For more details on the company and its technology, visit the Robotic Research website here.