Robotic Automation Leader Soft Robotics Raises $20 Million

Award-winning industrial robotics company Soft Robotics closed $20 million in an oversubscribed funding round. New investors include Scale Venture Partners, Calibrate Ventures, Honeywell Ventures, Tekfen Ventures, Yamaha Motor Co., Ltd., with Hyperplane Venture Capital leading the round. Existing investors include Material Impact, ABB Technology Ventures, Taylor Farms Ventures, and Haiyin Capital.

Leveraging patented material science and AI algorithms, Soft Robotics designs and builds automation solutions and soft robotic gripping systems that can grasp and manipulate items with the same dexterity as the human hand. The company says its technology platform has experienced 80% year-over-year revenue growth and production installations since its inception, running 24/7 for Fortune 500 companies and Dow 30 components, including Just Born Quality Confections (the maker of Peeps).