AAA Corporates help Savioke secure series B cash

Corporates help Savioke secure series B cash

US-based robotics technology developer Savioke has completed a $13.4m series B round featuring medical logistics provider Swisslog Healthcare, robotics software developer Brain Corp, human resources firm Recruit Holdings and electronics producer NEC.

NEC participated through its NEC Networks and System Integration Corporation (NESIC) subsidiary, and the round increased the total raised by Savioke to $31m since it was founded in 2013.

Savioke develops robotic couriers called Relay Robots which handle internal deliveries in locations such as hotels and industrial plants. They recharge automatically and come with features such as supply chain tracking and the ability to interact with elevators in multi-storey buildings.

The cash will enable the company to release a Relay Robot model for hospitals so that healthcare professionals can more easily receive supplies essential to their care.

Swisslog will assist Savioke in its move into the healthcare sector, mirroring a February 2017 strategic partnership between the latter and Japan-based NESIC that helped ease Relay Robots’ entry into the Japanese market.

Brain Corp’s involvement will help Savioke to utilise robotics software such as the BrainOS operating system in its own products.

Intel Capital, the corporate venturing arm of chipmaker Intel, led a $15m series A round for Savioke in 2016 that included EDBI, the investment arm of the Singaporean government’s Economic Development Board, and venture capital firm Northern Light Venture Capital.

Savioke had raised $2m in a 2014 seed round led by Morado Venture Partners and backed by GV, a corporate venturing arm of internet technology conglomerate Alphabet, and AME Cloud Ventures. The company’s early backers include Sand Hill Angels and 11.2 Capital.

Leave a comment

Your email address will not be published. Required fields are marked *