US-based companion robot developer Embodied raised $22m in a series A round yesterday featuring Intel Capital, the corporate venturing arm of semiconductor producer Intel.
The round was led by venture capital firm Calibrate Ventures and also featured spinout-focused investment firm Osage University Partners, Jazz Venture Partners, Grishin Robotics and unnamed existing shareholders.
Founded in 2016, Embodied is working on an artificial intelligence (AI) software platform and lifelike companion robots aimed at the care and wellness industries. It has yet to unveil any products and remains in stealth mode.
Paolo Pirjanian, co-founder and chief executive of Embodied, said: “We are developing a software and robotics platform that will enhance and enrich the lives of individuals and their families.
“Our technology delivers measurable benefits through interactions with individuals, and we will use proceeds from our financing to continue adding to our exceptional team of robotics and AI experts, neuroscientists and creative animators.”
Jason Schoettler, venture partner at Calibrate Ventures, and Andrew Firlik, co-founder and general partner of Jazz Venture Partners, will join the company’s board of directors in connection with the round.
Embodied had previously secured $6.8m in capital according to regulatory filings. Intel Capital, the corporate venturing division of chipmaker Intel, revealed Embodied was one of 12 startups in which it invested a total of $38m in late 2016.
Embodied’s shareholders also include Sony Innovation Fund and Alexa Fund, respective investment vehicles for consumer electronics producer Sony and e-commerce and home technology group Amazon, as well as Vulcan Capital and Hive Ventures, according to its website.
– The original version of this article appeared on our sister site, Global University Venturing.