Thursday, July 23, 2020
VC Deals Only: Dexterity exits stealth with $56.2M raised for its...
VC Deals Only: Dexterity exits stealth with $56.2M raised for its...: Dexterity emerged from stealth this week to announce its full-stack solution aimed at creating collaborative robotics systems. The hardware...
Dexterity exits stealth with $56.2M raised for its collaborative warehouse robots
Dexterity emerged from stealth this week to announce its full-stack solution aimed at creating collaborative robotics systems. The hardware-software system is designed for a variety of different tasks, including bin picking and box packing, targeted at warehouse fulfillment and logistics needs.
The Bay Area-based startup has already built up significant support from the investment world, with $56.2 million raised to date, from a long list of backers, including Kleiner Perkins, Lightspeed Venture Partners, Obvious Ventures, Pacific West Bank, B37 Ventures, Presidio (Sumitomo) Ventures, Blackhorn Ventures, Liquid 2 Ventures and Stanford StartX.
The company was founded back in 2017 as an extension of CEO Samir Menon’s Stanford thesis, described by Dexterity thusly, “Menon worked on a control theory framework to describe how the human brain controls and coordinates the body, which serves as a model to distill human skill into mathematical programs that control robots in a graceful human-like manner.”
Part of the company’s appeal appears to be the versatility of the robotics, which are designed to work alongside their human counterparts and operate collaboratively. Among the early adopters for the system are an unnamed “global food manufacturer,” “a worldwide package delivery provider” and Japan’s Kawasaki Heavy Industries.
Dexterity says it’s also seen a boost from the push for essential services during the COVID-19 pandemic, like so many others in the robotics and automation fields, stating that its systems have been involved with the shipping of “half a million units of packaged food.”
Source: TechCrunch, Brian Heater, July 22, 2020
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The Bay Area-based startup has already built up significant support from the investment world, with $56.2 million raised to date, from a long list of backers, including Kleiner Perkins, Lightspeed Venture Partners, Obvious Ventures, Pacific West Bank, B37 Ventures, Presidio (Sumitomo) Ventures, Blackhorn Ventures, Liquid 2 Ventures and Stanford StartX.
The company was founded back in 2017 as an extension of CEO Samir Menon’s Stanford thesis, described by Dexterity thusly, “Menon worked on a control theory framework to describe how the human brain controls and coordinates the body, which serves as a model to distill human skill into mathematical programs that control robots in a graceful human-like manner.”
Part of the company’s appeal appears to be the versatility of the robotics, which are designed to work alongside their human counterparts and operate collaboratively. Among the early adopters for the system are an unnamed “global food manufacturer,” “a worldwide package delivery provider” and Japan’s Kawasaki Heavy Industries.
Dexterity says it’s also seen a boost from the push for essential services during the COVID-19 pandemic, like so many others in the robotics and automation fields, stating that its systems have been involved with the shipping of “half a million units of packaged food.”
Source: TechCrunch, Brian Heater, July 22, 2020
This post was brought to you by Woewoda Communications, your partner in the venture capital, private equity and startup markets; offering strategic communications, public relations & investor relation services to Canadian VCs, PEs, Angels, Endowments/Trusts, Family Offices, and Canadian startups involved in ICT, IoT, blockchain, life sciences, healthcare, agribusiness, clean energy, fintech, AI and robotics.
Are you a Canadian GP/LP/CI or a Canadian startup that needs to grow or scale? Give us a call! One of our representatives would love to explain how we vertically design, and then systematically layer each of our communication platforms to effectively reach niche target audiences for our clients. WC offers a unique synergistic approach to effectively communicate our client's message to their target audience.
Serving Vancouver, Montreal, Toronto, Waterloo, Ottawa and Halifax.
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