The global pandemic situation is proving to be a massive driver for robotics investments. The surge in the investment has helped various businesses and Robots can work with any disease issues. With this, we can say they are not expected to be ill vectors than their human counterpart. The businesses are attempting to make the process smooth, and thus AI-driven robotics pick and place will help majorly in this pandemic. It is time to take a serious looking at ways to automate their work processes.
When it comes to Piece picking, it is still a challenge for robots, primarily in e-commerce apps, for order fulfillment. The company XYZ Robotics Inc., which has previously developed a 3D vision structure and tools for industrial, and, logistics has finally announced its Series A+ round of funding nearly $ 20 million. The XYZ Robotics Inc is an Allston, Mass.-based Company, and after receiving this huge funding the company said the capital will stimulate its research and development procedures, help in business expansion, and managing large scale operational and deployment tasks.
The recognition of unidentified SKUs of a variety of shapes and sizes is one of the major troubles in logistics and order. The company said its AI-based and patent-pending tool will certainly change the system and help in reducing the requirements for expensive hardware.
The investment was led by Source Code Capital, Gaorong Capital, and Morningside Capital. Among all of these, Guangyuan Capital was the unshared investment advisor.
The vice president at Source Code Capital, Runze Chen, said that- “From mobility to grasping, robots’ capabilities are getting closer to [those of] human beings” “More data, better algorithms, and growing to compute power will enable more robots in various scenarios.” Source Code Capital vice president added.
The round of funding brings the company’s total financial support up to $27 million. Those are several pretty striking totals for a company founded as just as May 2018.
The CEO of XYZ robotics said that- “XYZ Robotics will continue deepening its understanding of logistics and manufacturing, improving robot’s hand-eye coordination capabilities, and making such solutions ready for mass production”. “We will utilize the capital resources to expand our talented team and push the boundary of our technology to keep bringing better solutions to the customers. “He added further.