RightHand Robotics grabs $23 million in funding
RightHand Robotics announced a $23 million Series B this week. That brings the pick and place robotic arm manufacturer’s total funding up to around $34 million, including last year’s $8 million Series A.
The robotics startup has impressed investors with the dexterity and speed of its robotic picking system, having recruited some big VC names along the way. This latest round is led by Menlo Ventures, along with investments from GV (nee Google Ventures) joining the likes of existing investors Playground Global, Dream Incubator and Matrix partners.
Picking and placing has been a difficult robotics problem and one that’s only become more pronounced with the growth of fulfillment centers from the likes of Amazon. The online mega-retailer purchased logistics robotics company Kiva Systems for $775 million back in 2012, and has been rumored to be working on its own pick and place system.
As part of this round, former Kiva CEO Mick Mountz will be joining RightHand’s board of directors. “RightHand is picking up where we left off,” he said in a press release tied to the news. “Customers saw products coming directly to operators for picking and packing and would ask: ‘Why don’t you also automate this step with a robotic arm and gripper?’ But that was a difficult problem that we knew would require years of research and technical breakthroughs.”