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On Wed, 12 Mar, 12:10 AM UTC
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[1]
AI Robotics Startup Dexterity Lands $1.65 Billion Valuation
Dexterity Inc., a startup that builds industrial robots capable of "human-like" finesse, has raised $95 million from investors at a valuation of $1.65 billion -- a deal that underscores Silicon Valley's interest in machinery powered by artificial intelligence. Lightspeed Venture Partners participated in the funding round, which the company plans to announce Tuesday. The deal brings Dexterity's total cash haul to nearly $300 million, and includes backing from strategic investors such as Sumitomo Corp.
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Dexterity Raises $95 Million to Develop 'Physical AI' for Robots | PYMNTS.com
Dexterity raised $95 million in additional funding to accelerate its development of "Physical AI," which it defines as artificial intelligence that powers robots to do physical tasks. "Dexterity's 'AI of AIs' approach leverages hundreds of Physical AI models to unlock the capability for robots to load trucks, singulate parcels and palletize for the world's largest companies," Dexterity said in a Tuesday (March 11) post on LinkedIn announcing the funding. "And we're just getting started." The company said in the post that it aims to use the technology to enhance productivity and address labor shortages. Dexterity's Physical AI and robotics offerings feature robots with human-like dexterity, automation of repetitive tasks and complex manipulations in unpredictable environments, according to the company's website. These products have applications in logistics, warehousing and supply chain operations, per the site. In August, Figure unveiled its second-generation humanoid robot, Figure 02, saying the product's dexterity and advanced AI enable it to perform "a wide range of tasks across commercial applications and, in the near future, the home." Also on Feb. 14, it was reported that Meta was forming a new team that will be devoted to developing AI-powered humanoid robots that can perform household chores as well as AI, sensors and software that could be used by a variety of companies manufacturing and selling robots. On Feb. 13, Apptronik said it raised $350 million to help deploy its Apollo humanoid robot, scale operations and expand its staff to meet what it said is a surge in demand for AI-powered humanoid robots. Apptronik said its new funding will allow it to fulfill growing orders from a range of industries, including automotive, electronics, third-party logistics, beverage bottling and fulfillment, and consumer packaged goods.
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Yet another AI robotics firm lands major funding, as Dexterity closes latest round | TechCrunch
The intersection of robotics and AI continues to attract attention from investors and Big Tech alike. The latest indicator? Dexterity, a startup specializing in industrial robots with "human-like" finesse, has raised $95 million at a post-money valuation of $1.65 billion, per Bloomberg. The investment, which includes backing from Lightspeed Venture Partners and Sumitomo Corp., highlights the growing demand for machinery powered by AI and comes amid a wave of excitement from companies like Meta and Apple, which are reportedly exploring investments into AI-powered humanoid robots, and startups like humanoid robot makers Figure AI and Apptronik that have recently secured enormous funding rounds to develop robots for a variety of tasks. As for Dexterity, its robots are designed to perform repetitive and sometimes dangerous tasks in warehouses and factories, such as loading boxes and sorting parcels, for customers that include FedEx and UPS. Founder and CEO Samir Menon -- whose last role was as a PhD student at Stanford -- tells Bloomberg the robots use specialized AI models, each focused on a specific task. The outfit has now raised nearly $300 million altogether.
[4]
AI-powered industrial robotics startup Dexterity raises $95M - SiliconANGLE
Dexterity Inc., a startup that develops industrial robots powered by artificial intelligence agents, has raised $95 million in funding to enhance its technology. Bloomberg reported the investment today. The round, which included contributions from Lightspeed Venture Partners and Sumitomo Corp, reportedly gives Dexterity a post-money valuation of $1.65 billion. That's up from the estimated $1.4 billion the company was worth following its previous raise in 2021. Redwood City, California-based Dexterity develops robots that can automate merchandise processing tasks at facilities such as logistics warehouses. The company says that its systems are powered by hundreds of AI agents that each focus on a relatively narrow task. An AI agent is a neural network that can perform actions with little to no human input. According to Dexterity, the agents that power its robots are coordinated by a software system dubbed Arbiter. The system prevents so-called edge case errors, mistakes that an AI makes when it encounters an unfamiliar situation or task. Arbiter also promises to mitigate other issues such as hallucinations. According to Bloomberg, Dexterity is currently developing an industrial robot dubbed Mech. The machine features two robotic arms and a mobile base that allows it to move between different sections of an industrial facility. On its website, Dexterity states that Mech can carry more than 130 pounds. The system has an arm span of more than 16 feet that allows it to perform complex merchandise processing tasks. An e-commerce company, for example, could use a fleet of Mechs to load and unload delivery trucks. Dexterity optimized the robot for demanding environments. According to the company, Mech can operate at temperatures ranging from 32 to 122 degrees Fahrenheit with up to 90% humidity. The system also lends itself to use in altitudes of up to 5,000 feet. Dexterity is promising a mean time between failures of ten years. When a malfunction occurs, fixing the Mech is relatively simple because some components can be swapped in the field. That speeds up the troubleshooting workflow, which in turn allows companies to recover from robot outages faster. Dexterity provides its robots alongside a digital twin platform. Customers can use the software to simulate the factories, fulfillment centers and other locations where they've deployed automation equipment. Dexterity says that such simulations make it easier to measure the productivity impact of robotic arms.
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Dexterity Inc., a startup developing industrial robots with human-like finesse powered by AI, has raised $95 million at a $1.65 billion valuation. The funding will accelerate the development of their "Physical AI" technology for various industrial applications.
Dexterity Inc., a startup specializing in AI-powered industrial robots, has successfully raised $95 million in a recent funding round, propelling its valuation to an impressive $1.65 billion 12. This significant investment underscores the growing interest in artificial intelligence-driven machinery within Silicon Valley and beyond.
The funding round saw participation from notable investors, including Lightspeed Venture Partners and strategic backers such as Sumitomo Corp 13. This latest influx of capital brings Dexterity's total funding to nearly $300 million, highlighting the strong confidence investors have in the company's innovative approach to industrial robotics 1.
At the heart of Dexterity's offering is its "Physical AI" technology, which the company defines as artificial intelligence that powers robots to perform physical tasks with human-like dexterity 2. This approach leverages hundreds of AI models to enable robots to handle complex operations such as loading trucks, singulating parcels, and palletizing for major corporations 2.
Dexterity is currently developing an advanced industrial robot called Mech. This innovative machine features two robotic arms and a mobile base, allowing it to move freely within industrial facilities 4. Mech boasts impressive capabilities, including:
Dexterity's robots are designed to automate repetitive and potentially dangerous tasks in warehouses and factories. The company's client base includes industry giants such as FedEx and UPS 3. By addressing labor shortages and enhancing productivity, Dexterity's technology has applications across various sectors, including:
Dexterity's success is part of a larger trend in the AI robotics industry. Other companies making waves in this space include:
With this new funding, Dexterity aims to accelerate the development of its "Physical AI" technology and expand its market presence. The company's innovative approach, combining specialized AI models for specific tasks and its Arbiter system for coordinating these models, positions it well for future growth in the rapidly evolving field of AI-powered robotics 24.
As the demand for intelligent automation continues to rise across industries, Dexterity's human-like robotic solutions are poised to play a significant role in shaping the future of industrial operations and addressing global labor challenges.
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Robotics startup Physical Intelligence raises $400 million in funding, backed by Jeff Bezos and OpenAI, to develop versatile AI software for robots capable of performing diverse tasks across industries.
13 Sources
13 Sources
Figure AI, a startup developing humanoid robots, is in talks to raise $1.5 billion at a $39.5 billion valuation, marking a significant leap in the AI-powered robotics industry. This development comes amid growing interest from major tech companies in humanoid robots.
4 Sources
4 Sources
Apptronik, a US-based humanoid robotics company, has raised $350 million in Series A funding to expand production of its humanoid robot, Apollo. The round was co-led by B Capital and Capital Factory, with participation from Google, positioning Apptronik as a leader in AI-powered humanoid robotics.
9 Sources
9 Sources
Standard Bots, a startup specializing in AI-powered robotic arms, has raised $63 million in funding to advance American manufacturing. The company aims to revolutionize the industry with its innovative robotic solutions.
2 Sources
2 Sources
Apptronik, a US-based AI-powered humanoid robotics startup, has raised $403 million in Series A funding, with backing from major tech and automotive companies. The investment will support the production and deployment of their humanoid robot, Apollo, across various industries.
2 Sources
2 Sources
