US-based robotic arm developer RightHand Robotics received $23m in series B funding from investors including GV, a corporate venturing subsidiary of internet and technology group Alphabet, on Monday.
Venture capital firm Menlo Ventures led the round, which included investments from business consulting firm Dream Incubator, private equity and VC firm Matrix Partners and startup studio and investment firm Playground Global.
Founded in 2014, RightHand has created a system that combines machine learning software and robotic arms in order to pick, sort through and package e-commerce orders in warehouses.
The series B funding will be used to expand the company’s team, develop its technology and extend its order fulfilment product to other industries, including pharmaceuticals, groceries and cosmetics, a spokesperson told VentureBeat.
The company has now raised $34.3m to date, having closed a $8m series A round in March 2017 featuring Playground Global, Matrix Partners, Dream Incubator, Seven Seas Partners and several angel investors. It had secured $3.3m in 2015 according to a securities filing.
GV general partner Andy Wheeler said: “RightHand Robotics developed a comprehensive, integrated solution that resonates with a wide variety of e-commerce companies.
“The founding team of roboticists at RightHand have the right expertise, full-stack product, and overall vision to make an impact on this growing market.”
Image courtesy of Righthand Robotics, Inc.