US-based industrial robot manufacturer Rethink Robotics raised $26.6m yesterday in a series D round led by GE Ventures, the corporate venturing unit of industrial conglomerate General Electric.
Investment bank Goldman Sachs also participated alongside all of Rethink’s existing investors, including Bezos Expeditions, the investment vehicle of Amazon chief executive Jeff Bezos, CRV, Highland Capital Partners, Sigma Partners, Draper Fisher Jurvetson and Two Sigma Ventures.
Rethink produces robots that can be programmed for use alongside skilled labour in a range of sectors including automotive, plastics, consumer goods and electronics.
The company has now secured approximately $100m in funding since it was founded in 2008. It will use the series D cash to support growth and international expansion.
Scott Eckert, chief executive of Rethink Robotics, said: “Our new and existing investors recognise the enormous market potential for smart, collaborative robots in manufacturing, and they share our vision for driving ongoing product innovation, volume deployments and continued expansion into global markets.”