March 2023 Robotics Investments Total US $526 Million

47 robotics investments in the month of March accounted for a total of $526M.

Robotics funding for the month of March 2023 totaled $526M (See Table 1, below or download Table 1 HERE), the result of 47 investments. The March investments bring the 2023 totals to approximately $1.66B.

Table 1: March 2023 Robotics Funding and Investment

Company_Name Amount Type Country Tech-Prod-Services Description
1X $23,500,000 Series A Norway Humanoids / Bipeds !X is developing humanoid robotics systems.
Aicatech AI $1,275,336 Seed Switzerland Software AICA offers a AI based software that simplifies the programming of robots.
AutoSurg $835,000 Seed USA Surgical Systems Autosurg is developing an autonomous surgical robot for endoscopic diagnostic and interventional procedures.
Azure Alliance Estimate Grant Taiwan Unmanned Surface Vehicles Azure Alliance produces the Azure Fighter, an electric marine debris cleaning boat that operates by remote control or autonomously.
Biomotum Estimate Seed USA Rehabilitation / Therapeutic Systems, Prosthetic / Orthotic Systems Biomotum produces wearable rehabilitation robotics for assisting and restoring walking function.
Caracol $11,279,991 Series A Italy Articulated Robots, Tech – Tools and Machinery Caracol offers large format, robotics powered, additive manufacturing solutions for industrial sectors.
Chietom (Zhitong Precision) Estimate Other China Actuators / Motors / Servos Chietom (Zhitong Precision) is a manufacturer of gear reducers for industrial robot joints
Chouette $4,808,945 Other France Drones, Sensors / Sensing Systems Chouette uses drones to caprure images which are then analyzed to detect diseases and tree vigour and, based on the data analysis, creates the optimal spray volume of chemicals.
Direct Drive Technology Estimate Series B China Actuators / Motors / Servos Direct Drive Technology provides direct drive solutions for home care robots, industrial/commercial robots, and other machines.
dRISK Estimate Grant United Kingdom Sensors / Sensing Systems, Software DRISK is developing a standardised approach for autonomous vehicle testing that incorporates the the world’s most extensive library of edge case.
Drone Delivery Canada $75,000 Grant Canada Drones, Drones Drone Delivery Canada is focus on designing, developing and implementing a commercially viable drone delivery system within the Canada.
Drone Express $250,000 Seed USA Drones, Software Drone Express is a full-service logistics company that uses autonomous drones for local package delivery.
Enabot $145,267 Other Hong Kong Indoor Mobile Platforms Enabot produces mobile, social robots powered by artificial intelligence.
ENKITEK Estimate Seed Spain Sensors / Sensing Systems, Collaborative Robots ENKITEK utilizes robotics, AI and IoT to automate and monitor the production in indoor farming.
Fabrica AI $850,000 Seed Singapore Indoor Mobile Platforms Fabrica AI is developing an autonomous tile grouting robots that grout and clean tile gaps with only a press of a button.
Flyability Estimate Series C Switzerland Drones, Data Acquisition / Processing / Management Flyability is designing drones for visual inspection and exploration in indoor, often inaccesable environments for inspection and more.
Geoflex $6,366,419 Series A France Sensors / Sensing Systems, Software Geoflex is a cloud service operator that enhances GPS/GNSS based applications to 4 centimeters positioning on land, at sea and in the air.
Ghost Autonomy $45,370,440 Series E USA Software Ghost Autonomy produces sofware to enable autonomous driving in consumer vehicles.
Hanyang Technology $14,496,535 Seed China Indoor Mobile Platforms, Outdoor Mobile Platforms Hanyang Technology produces autonomous service robots for indoor and outdoor use.
Haply $3,496,220 Seed Canada Human Robot Interaction (HRI) Haptics Haply iprovides haptic devices, prototyping, firmware, and virtual learning assistance.
Hengzhi Future Estimate Seed China Quadrupeds Hengzhi Future is a developer of consumer-grade robotic products.
Hirebotics Estimate Other USA System Integration / Programming, Collaborative Robots Hirebotics is a Robotics-as-a-Service (RaaS) provider.
Inker Robotics $1,200,000 Seed India System Integration / Programming, Research / Consulting INKER is an engineering services firm that produces robotics solutions.
IONA Estimate Grant United Kingdom Drones, Software IONA develops zero-emission autonomous drone solutions for logistics in low population density areas
Jodell Robotics $13,014,619 Series B China End Effectors, Actuators / Motors / Servos Jodell Robotics offer electric gripping solutions for robotics systems.
Lanjiang Technology Estimate Seed China Outdoor Mobile Platforms Lanjiang Technology is a developer of agricultural robots for field planting management.
LexxPluss $10,800,000 Series A Japan Indoor Mobile Platforms LexxPluss provides a customizable hybrid autonomous mobile robots (hybrid-AMR) for the logistics market.
Manna Drone Delivery $10,000,000 Other Ireland Drones, Software Manna offers drone delivery as a service stack to restaurant chains, dark kitchens, and online food delivery platforms
Neubility $2,296,832 Series A South Korea Outdoor Mobile Platforms Neubility offers a self-driving delivery robot as a service.
Nimble Robotics $65,000,000 Series B USA Collaborative Robots, Articulated Robots Nimble Robotics offers fulfillment services using intelligent robots for pick and pack operations.
Plus One Robotics $52,743,951 Series C USA Articulated Robots, Sensors / Sensing Systems Plus One Robotics develops a parcel-handling robotics platform for logistics applications.
Qi Yuan Robot Estimate Seed China Indoor Mobile Platforms Qiyuan Robot is a developer of intelligent cleaning robots.
Qiaotian Intelligent $1,500,000 Other China End Effectors Qiaotian Intelligent produces tool changers for industrial robots.
READY Robotics Estimate Other USA Software READY Robotics is the developer of ForgeOS, the industrial OS for robots and automation.
Renovate Robotics $2,500,000 Seed USA Other Industrial Renovate Robotics develops an automation technology for automated solar
and shingle installation in the construction sector.
REP-TEC $354,811 Other USA Articulated Robots, Sensors / Sensing Systems REP-TEC provides robotic automated recycling solutions.
Rizhao Ami Precision Control Technology $7,000,000 Other China Actuators / Motors / Servos, Controllers Rizhao Ami Precision Control Technology iprovides precision optical-mechanical control solutions.
Robeff Technology $1,500,000 Seed Turkey Outdoor Mobile Platforms Robeff Technology produces fully autonomous mobile delivery systems.
RoboticPlus.AI Estimate Other China Articulated Robots, Software RoboticPlus.AI is an robtics company that helps in architectural tech by providing intelligent robotic products for the construction sector.
sliQue Robotics Estimate Seed USA Indoor Mobile Platforms, Software sliQue Roboticsis a machine learning and robotics firm specializing in solutions to optimize hospitality operations.
Standard Robots $86,575,089 Series C China Indoor Mobile Platforms, Autonomous Forklifts, Automated Guide Vehicles Standard Robots provides a variety of autonomous mobile robots..
UISEE Estimate Series C China Outdoor Mobile Platforms, Autonomous Transportation Systems UISEE provides a variety of autonomous mobility solutions.l
Venti Technologies $28,800,000 Series A China Autonomous Transportation Systems, Software Venti Technologies develops logistics systems incorporating autonomous vehicles for moving goods and people at industrial hubs .
Verity $32,802,838 Series B Switzerland Drones, Software Verity’s drone based solution automates inventory checks in large warehouses and DCs.
Wingtra $22,000,000 Series B Switzerland Drones Wingtra is a manufacturer of professional mapping and surveying drones.
Xingmai Innovation $29,077,374 Other China Home Care / Lawn Care / Pool Care, Unmanned Underwater Vehicles Xingmai Innovation produces intelligent pool cleaning robots.
Yogo Robot Estimate Other China Indoor Mobile Platforms Yogo Robot uses automated delivery solutions. For last mile delivery

Companies located in the China received the most rounds (15) and the greatest funding amounts ($205M). Investment into US firms totaled $176M (11 rounds total).

March 2023 Robotics Investments

Figure 1: March 2023 Robotics Investment by Country

All funding types were well represented in the March 2023 investment survey (Figure 2), with Seed investments making  up most of the rounds. Approximately one-third of the March 2023 investment amounts came from Series C rounds, buoyed by investments into Flyability ($10M), Plus One Robotics ($52.7M) and Standard Robots ($86.5M).

March 2023 Robotics Investments

Figure 2: March 2023 Robotics Funding Amounts by Investment Type

March 2023 Robotics Investments

Figure 3: March 2023 Robotics Funding Amounts by Investment Number and Amounts

Editors’ note: What defines robotics investments? The answer to this simple question is central in any attempt to quantify them with some degree of rigor. To make investment analyses consistent, repeatable, and valuable, it is critical to wring out as much subjectivity as possible during the evaluation process. This begins with a definition of terms and a description of assumptions.

Investors and investing
Investment should come from venture capital firms, corporate investment groups, angel investors, and other sources. Friends-and-family investments, government/non-governmental agency grants, and crowd-sourced funding are excluded.

Robotics and intelligent systems companies
Robotics companies must generate or expect to generate revenue from the production of robotics products (that sense, analyze, and act in the physical world), hardware or software subsystems and enabling technologies for robots, or services supporting robotics devices. For this analysis, autonomous vehicles (including technologies that support autonomous driving) and drones are considered robots, while 3D printers, CNC systems, and various types of “hard” automation are not.

Companies that are “robotic” in name only, or use the term “robot” to describe products and services that that do not enable or support devices acting in the physical world, are excluded. For example, this includes “software robots” and robotic process automation. Many firms have multiple locations in different countries. Company locations given in the analysis are based on the publicly listed headquarters in legal documents, press releases, etc.

Funding information is collected from a number of public and private sources. These include press releases from corporations and investment groups, corporate briefings, imarket research firms, and association and industry publications. In addition, information comes from sessions at conferences and seminars, as well as during private interviews with industry representatives, investors, and others. Unverifiable investments are excluded and estimates are made where investment amounts are not provided or are unclear.

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March 2023 Robotics Investments Total US $526 Million

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