# Rapid Robotics

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/rapid-robotics

- Industry: Industrial Machinery
- Headquarters: San Francisco, US
- Website: www.rapidrobotics.com
- Total disclosed funding: $58M
- Latest round: Series B (Aug 18, 2021)
- Investors on record: 6

## About

Rapid Robotics, Inc. is a US-based company specializing in automating end-of-line manufacturing and logistics through advanced robotic solutions. Founded in 2019, it addresses workforce shortages with innovative technology.Founded in 2019, Rapid Robotics, Inc. operates from San Francisco, US. The company focuses on automating manufacturing processes, particularly end-of-line operations. Co-founded by Jordan Kretchmer and Ruddick Lawrence, it has raised a total of USD 36.80 mn across various funding rounds, including the latest Series B round on August 18, 2021, co-led by Kleiner Perkins and Tiger Global Management, among others. Rapid Robotics currently has a company valuation of USD 115.25 mn.Rapid Robotics specializes in automating end-of-line manufacturing and logistics through its flagship product, the Rapid 3PRO. This advanced robotic system is designed for repetitive tasks like picking, packing, and palletizing, enhancing operational efficiency in industries such as e-commerce, food and beverage, and consumer goods. The company serves a diverse client base globally, with a strong presence in North America and Europe, focusing on customer-specific needs.Rapid Robotics generates revenue primarily from the direct sales of its Rapid 3PRO robotic systems, along with ongoing service agreements and maintenance contracts. The business model is structured around B2B transactions, with long-term partnerships including installation, training, and support services, ensuring seamless integration. Their pricing strategy involves structured fees based on the complexity and scope of the automation solutions provided, catering to various industries aiming to improve their end-of-line processes.In August 2021, Rapid Robotics, Inc. raised USD 36.80 mn in Series B funding, which will be used to develop new features for the Rapid Machine Operator and support regional expansion into markets such as Detroit, Texas, Southern California, and Arizona. The company aims to enhance its product offerings and penetrate new geographic areas to better serve a growing client base.

## Funding rounds

- Series B, Aug 18, 2021, $37M — Kleiner Perkins, New Enterprise Associates, Greycroft, Tiger Global Management, Bee Partners, 468 Capital
- Series A, Apr 6, 2021, $12M — New Enterprise Associates, Greycroft, Bee Partners, 468 Capital
- Seed, Nov 18, 2020, $5.5M — Greycroft, Bee Partners
- Seed, Jan 6, 2020, $3.9M — Greycroft, Bee Partners

## Investors

- Greycroft (https://capitalatlas.ai/funds/greycroft) — Seed, Series A, Series B
- Bee Partners (https://capitalatlas.ai/funds/bee-partners) — Seed, Series A, Series B
- New Enterprise Associates (https://capitalatlas.ai/funds/new-enterprise-associates) — Series A, Series B
- 468 Capital (https://capitalatlas.ai/funds/468-capital) — Series A, Series B
- Kleiner Perkins (https://capitalatlas.ai/funds/kleiner-perkins) — Series B
- Tiger Global Management (https://capitalatlas.ai/funds/tiger-global-management) — Series B