Portuguese company MOV.AI has today announced that it has raised $4m in a funding round to further develop its operating system for collaborative robots, also known as cobots.
The round, which brings the total raised by MOV.AI to $8m, was led by SOMV, with additional funding coming from existing investors NFX and Viola Ventures.
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The company’s robot operating system (ROS) is designed to make the development and implementation of robotic systems easier, and includes a graphical interface through which users can describe the behaviour of the robots. Other features include autonomous navigation, obstacle avoidance and safety compliance.
MOV.AI has designed its ROS for manufacturers of cobots, as well as academics and automation integrators. It also contributes to the ROS community.
At present, the majority of its customers are in Western Europe, notably Germany, Denmark, Sweden, Ireland, France and the UK, although it has some customers in Singapore and the US.
Industries using the company’s ROS include automotive, hospitality, fashion and food, and it is also being deployed to automate postal services.
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By GlobalDataMOV.AI funding highlights industrial potential of cobots
The funding is designed to help MOV.AI further develop its product and provide further support to existing customers.
“The new funding round recognises MOV.AI’s vision for the collaborative robot industry. MOV.AI will continue to fortify its position as a leading company in the field of cobots,” said Motti Kushnir, CEO of MOV.AI.
It comes at a time when growing numbers of industries look to automation, accelerated in part by the need for social distancing amid the Covid-19 pandemic. And cobots play a potentially significant part in this.
“We are very excited to win our existing investors’ trust and for our new connection to SOMV that will allow us to develop our industrial automation market solution further,” added Kushnir.
“The Covid-19 pandemic has accelerated growth in e-commerce, while reducing workforce availability. This development has led to a massive increase in the demand for automation systems and collaborative robots, which can integrate into existing facilities and work collaboratively with humans.”
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