GrayMatter Robotics, an AI-Robotics leader empowering humans with its smart automation solutions, announced a $20M Series A investment.
The investment was led by Bow Capital and joined by existing investors B Capital Group, Calibrate Ventures, OCA Ventures, Pathbreaker Ventures, Stage Venture Partners, and 3M Ventures. New investors including Swift Ventures also joined the financing round.
GrayMatter Robotics' smart robotic cells are helping high-mix, high-variability manufacturing industries increase productivity, enhance quality consistency, and save costs while meeting global demand for manufactured products and improving the quality of life for shop-floor workers. With the new capital, GrayMatter Robotics will expand its team to meet rapidly growing customer demands.
"Our biggest concern was that our part-mix is very high, so it seemed like a very daunting task to automate such operations. Scan&Sand has the ability to work on a component or a group of components and has a simple one-button operation," said Jon Coners, Sr. Manufacturing Manager at Bega North America. "Not worrying about having a fixed setup; you can move parts around and the robot will look again! This was our first foray into robotics, so we had to have a partner, not just a vendor, that will really be there for us and GrayMatter has stepped up to the plate."
"Customer demand has never been higher for robotics and automation solutions, helping manufacturers improve productivity, obtain cost savings, and provide consistent high-quality performance," said Adi Leviatan, President, 3M Abrasive Systems Division. "Reinvesting in GrayMatter Robotics aligns with 3M's efforts to deliver easy-to-use automated abrasive processing systems that address the challenges posed by high-mix manufacturing operations."
GrayMatter Robotics is helping a wide range of manufacturing industries with its smart robotic cells for high-mix surface finishing and surface treatment applications. Shortly after its founding, GrayMatter Robotics was awarded the RBR50 Robotics Innovation Award. This prestigious award is given to the most creative and influential innovations worldwide that have advanced the state of robotics. Moreover, GrayMatter Robotics was awarded highly competitive NSF SBIR Phase 1 and Phase 2 grants to develop the core technology behind its product.
"We're excited to invest in GrayMatter and its highly innovative team of AI experts," said Murray Rode, General Partner of Bow Capital. "We see enormous potential in GrayMatter's solution to automate ergonomically challenging tasks to improve shop floor productivity and consistency, lower operational costs and increase throughput while creating a safer workplace and promoting sustainability by reducing waste."
"We are a next-generation automation company shaping the future of work with smart robots," said Brual Shah, co-founder, and CTO of GrayMatter Robotics. "Automating surface finishing and treatment applications for mission-critical production environments poses some extremely challenging engineering problems in AI and robotics. It is fascinating for our team to see how our day-to-day work is immediately impacting a wide range of industries from recreational equipment to aerospace."
"We are improving shop workers' lives, enhancing their productivity, and enabling them to focus on higher-value tasks. Manufacturing drives our economy, and without automating surface finishing and treatment, there is a significant risk the global economy may suffer due to the increasing labor shortage.", said Ariyan Kabir, co-founder, and CEO of GrayMatter Robotics.
GrayMatter Robotics is actively hiring for a wide range of roles to meet customer demands, expand operations, and accelerate the development and deployment of the next-generation AI-Robotic solutions.
