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Seed round funding comes as company expands offerings for robotics companies looking to scale their robot fleets
MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)–July 9, 2020–
InOrbit, the leading provider of cloud-based robot management software, today announced it has closed $2.6 million in seed round funding. The funding was led by ANIMO Ventures, with participation by Yamaha Motor Ventures & Laboratory Silicon Valley, Kärcher New Venture and other key institutional and individual investors.
InOrbit’s software-as-a-service enables robotics companies and operators to develop, deploy and orchestrate autonomous robots at global scale. The company’s multi-cloud platform provides secure, real-time analytics and data collection, robot performance monitoring, incident management and remote interventions.
InOrbit said it will use the funding to grow its product team and continue raising awareness about the need for professional management tools and best practices for robot operations. “Our goal is to support 1 million robots that positively impact the lives of 1 billion people,” said Florian Pestoni, CEO/co-founder at InOrbit. “We want to put every robot in orbit around the cloud, combining robots’ ability to handle repetitive tasks with AI in the cloud to orchestrate and humans in the loop to provide direction.”
As robotics deployments scale to hundreds and thousands of robots, the complexity of operating a growing fleet of robots increases exponentially across the board, including deployment, mission definition and dispatching, real-time monitoring and incident response. Customers across industries, including retail, logistics and agriculture have benefited from InOrbit’s platform to help them scale up operational monitoring of their robot fleets.
For example, Bossa Nova has been working with InOrbit to monitor its shelf-scanning robots in hundreds of retail stores across the U.S. “InOrbit’s platform has helped us meet and exceed the expectations of our customers,” said Sarjoun Skaff, co-founder and CTO of Bossa Nova. “We value this partnership as we take another step towards achieving our mission of powering the transformation of retail.”
Investors praised the company’s dedication to growing the robotics operations field.
“The founding team at InOrbit combines passion, technical wizardry and a deep commitment to enable robotics to impact a billion lives globally,” said Antonio Osio, partner at ANIMO Ventures. “The COVID-19 pandemic has accelerated what the founders have been thinking for decades; that autonomous robots hold the key to a more resilient and thriving society. We believe the nascent field of RobOps is a key ingredient in building that future.”
“We see a great deal of value in the robotics platform InOrbit has developed that improves the performance and expands the functionality of robotic fleets, and can positively impact the delivery of critical products and services across several sectors,” said Anish Patel, partner and mobility group lead for Yamaha Motor Ventures and Laboratory Silicon Valley. Patel said his group focuses its investments on innovative technology and teams working to solve global issues in the delivery of health, food, mobility, life sciences and other essential functions.
“With the investment in InOrbit, we extend our initiatives in robotics, one of the major technology trends in the cleaning industry,” said Hartmut Jenner, CEO and Chairman of the Board of Management at Alfred Kärcher SE & Co. KG. “In order to provide our customers with a comprehensive and scalable solution, robotic operations will be an essential component. Kärcher will benefit both from InOrbit’s cloud-based robot management platform and the team’s in-depth technological expertise.”
About InOrbit: InOrbit is bridging the autonomy gap through a cloud robot management platform that enables robotics companies and operators to develop, deploy and orchestrate autonomous robots at global scale. InOrbit’s multi-cloud platform provides secure, real-time analytics and data collection, robot performance monitoring (RPM), incident management, and remote interventions. For more information, please go to www.inorbit.ai.
About ANIMO Ventures: ANIMO Ventures is a $60 million seed fund with offices in San Francisco, New York, and Miami. The firm is hyper-focused in leading or co-leading seed rounds across the U.S. ANIMO is a generalist technology investor looking to back phenomenal entrepreneurs across verticals with investments ranging from $500,000 to $2 million.
About Yamaha Motor Ventures & Laboratory Silicon Valley: Yamaha Motor Ventures & Laboratory Silicon Valley, Inc. (Yamaha Motor Ventures) is a wholly owned subsidiary of Yamaha Motor Co., Ltd (YMC). Founded in 2015 in support of YMC’s long-term goal to contribute to society through business, Yamaha Motor Ventures manages the Yamaha Motor Exploratory Fund, a $100 million investment fund with a 10-year lifecycle focused on seed to Series B investments. Headquartered in the home of innovation, Silicon Valley, Calif., Yamaha Motor Ventures offers a wealth of business development resources to startup companies to drive innovation forward in the field of mobility, sustainability, robotics, food and agriculture, health and wellness, and aviation.
About Kärcher New Venture: Kärcher New Venture is the corporate venture unit of Alfred Kärcher SE & Co. KG, the world’s leading provider of cleaning solutions for commercial and private customers. The mission of Kärcher New Venture is to connect ideas, people, business, and capital with the intention to shape the cleaning industry and create solutions for a cleaner future. With our global network in the cleaning environment and our technology know-how, we support innovative founders to scale their business and to explore new opportunities. In 2019, the Kärcher group, operating in 72 countries, achieved the highest turnover of its history (EUR 2.6 billion).
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