# Soft Robotics

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

- Industry: Industrial Machinery
- Headquarters: Bedford, US
- Website: www.softroboticsinc.com
- Total disclosed funding: $89M
- Latest round: Series C (Nov 16, 2022)
- Investors on record: 14

## About

Based in the US, Soft Robotics Inc. specializes in advanced automation solutions for inspection and robot picking applications, utilizing technologies such as 3D machine vision and AI to enhance operational efficiencies in various industries.Soft Robotics Inc. was founded in 2012 and is headquartered in Bedford, US. The company focuses on advanced automation solutions for robotic picking and inspection. In November 2022, Soft Robotics raised USD 31.6 mn in Series C funding led by Tyson New Ventures, with participation from Johnsonville Ventures and Marel. This funding supports their initiatives to expand the commercial deployment of their m GripAI™ robotic picking solutions. The company's CEO is Jeffrey Beck, with Mark Chiappetta also serving in a leadership role.Soft Robotics specializes in advanced automation solutions designed for inspection and robot picking applications, utilizing technologies such as 3D machine vision, artificial intelligence, and proprietary soft grippers. Their flagship offering, the m GripAI™ robotic picking solution, combines patented soft gripping technology with rapid 3D vision and AI capabilities. This directly addresses challenges faced by the food industry, such as labor shortages and supply chain issues. Their client base includes Fortune 500 companies like Domino's and Johnsonville, serving various markets globally with efficient and reliable automation solutions.Soft Robotics generates revenue through the sale of its automated solutions to system integrators, OEM machine builders, and large food processors. Their revenue model includes direct sales of m GripAI™ products and service agreements for ongoing support. The company focuses on customizing solutions for operational needs, which facilitates long-term client relationships and continuous engagement through subscription-based services for software updates and technical support.In November 2022, Soft Robotics raised USD 31.6 mn in Series C funding to expand the commercial deployment of its m GripAI™ robotic picking solutions. The company plans to introduce new products and enhance its offerings to meet the increasing demands of its diverse clientele. Additionally, Soft Robotics is targeting expansion into new geographic markets, focusing on regions that require advanced automation technology, aiming for significant growth in these areas within the coming years.

## Funding rounds

- Series C, Nov 16, 2022, $32M — Marel, Tyson New Ventures, Johnsonville Ventures
- Series B, Jun 29, 2021, $10M — Scale Venture Partners, ABB Technology Ventures, Material Impact Fund, Tyson New Ventures, Tekfen Ventures, Calibrate Ventures
- Series B, Jan 20, 2020, $22M — Scale Venture Partners, Material Impact Fund, Hyperplane Venture Capital, Yamaha Corporation, Tekfen Ventures, Calibrate Ventures, Honeywell Ventures, FANUC Corporation Pension Fund
- Series A, Feb 12, 2018, $20M — Scale Venture Partners, ABB Technology Ventures, Haiyin Capital, Material Impact Fund, Taylor Ventures, Hyperplane Venture Capital, Yamaha Corporation, Tekfen Ventures, Calibrate Ventures, Honeywell Ventures
- Series A, Dec 17, 2015, $5M — Haiyin Capital, Material Impact Fund, Taylor Ventures

## Investors

- Haiyin Capital (https://capitalatlas.ai/funds/haiyin-capital) — Series A
- Material Impact Fund (https://capitalatlas.ai/funds/material-impact-fund) — Series A, Series B
- Taylor Ventures — Series A
- Scale Venture Partners (https://capitalatlas.ai/funds/scale-venture-partners) — Series A, Series B
- ABB Technology Ventures (https://capitalatlas.ai/funds/abb-technology-ventures) — Series A, Series B
- Hyperplane Venture Capital (https://capitalatlas.ai/funds/hyperplane-venture-capital) — Series A, Series B
- Yamaha Corporation — Series A, Series B
- Tekfen Ventures (https://capitalatlas.ai/funds/tekfen-ventures) — Series A, Series B
- Calibrate Ventures (https://capitalatlas.ai/funds/calibrate-ventures) — Series A, Series B
- Honeywell Ventures (https://capitalatlas.ai/funds/honeywell-ventures) — Series A, Series B
- FANUC Corporation Pension Fund — Series B
- Tyson New Ventures (https://capitalatlas.ai/funds/tyson-new-ventures) — Series B, Series C
- Marel — Series C
- Johnsonville Ventures (https://capitalatlas.ai/funds/johnsonville-ventures) — Series C