Collaborative Robotics, also known as Cobot, has successfully raised $100 million in Series B funding. The investment round was led by General Catalyst and included participation from Bison Ventures, Industry Ventures, and Lux Capital. Existing investors such as Sequoia Capital, Khosla Ventures, and Mayo Clinic also contributed, bringing the total funding raised to over $140 million in just two years. Additionally, industry leader Teresa Carlson has joined the company as an advisor.
A Strong Foundation and Vision for the Future
Founded in 2022 by Brad Porter, a former VP of Robotics at Amazon, Collaborative Robotics comprises a team of experts from top tech companies including Amazon, Apple, Meta, Google, and NASA. The newly acquired funds will be used to expand the team and enhance commercial deployments. Paul Kwan from General Catalyst will join the Board of Directors alongside Alfred Lin from Sequoia Capital.
“Launching our first robots earlier this year, along with this investment, marks significant progress in bringing cobots with human-level capabilities to various industries,” said Brad Porter, CEO and founder of Collaborative Robotics. “We envision a cycle where increased field deployment of robots leads to enhanced AI and a more cost-effective supply chain. This funding will help expedite the integration of more robots into real-world applications.”
The Promise of Collaborative Robots
Collaborative robots, or cobots, are set to transform industrial automation by boosting efficiency, safety, and return on investment across sectors such as manufacturing, healthcare, and retail. Compared to more complex robots, cobots are affordable and versatile, working alongside humans to enhance productivity and reduce operational costs. They merge automation with human problem-solving, improving workflow, minimizing employee strain, and lowering errors. This results in better product quality, safer workplaces, and optimized processes.
As businesses seek greater efficiency, cobots provide scalability and cost savings, making them essential for staying competitive and fostering innovation in modern industries.
Backing from Industry Leaders
“Brad and Cobot are leading the way in redefining human-robot interaction,” stated Paul Kwan, Managing Director at General Catalyst. “Their practical approach to developing capable and user-friendly robots aligns with General Catalyst’s commitment to Responsible Innovation.”
“We are at the start of a significant transition, where AI enhances productivity in both digital and physical realms,” added Alfred Lin, partner at Sequoia Capital. “Collaborative Robotics is poised to lead this charge. Brad and his team’s expertise in hardware, software, and AI, combined with their experience in major logistics networks, positions them uniquely for success.”
Welcoming Teresa Carlson
Teresa Carlson joins Cobot as an advisor, bringing her extensive experience in digital transformation from roles at Amazon Web Services (AWS) and Microsoft, among others. She will provide guidance on scaling the company’s go-to-market strategy and industry transformation.
“During my time at Amazon, I had the opportunity to partner with Brad on several transformative initiatives. I’m excited to work with Brad again at General Catalyst to transform and scale industrial automation for industries worldwide,” said Carlson.
