Plus One Robotics is a company based in San Antonio, that was announced to have received funding of $33 million from a Series B funding round. This round followed the previous raise, which was about $8.3 million from a Series A funding, announced back in 2018. The recent rise has made the company’s net funding to be about $40 million. The funding round was led by TransLink Ventures and McRock Capital, which also featured Kensington Capital Partners, BMWi Ventures, and Ironspring Ventures, besides having several prior investors.
Plus One Robotics was founded and launched in 2016. The company’s primary focus has always been on the software of computer vision, used for robotics in warehouse settings and logistics. It is definitely a new, trendy category since more companies are seen to look for automating their back ends. Under some specific needs, the company has designed the system to be completely adaptable to a huge range of grippers and robotic arms, and this usually tends to fulfill the different basic needs of the user end. Hence, they came up with a unique solution that can help the work get done faster as well as catalyze the growth of a business.
With this enormous funding, Plus One Robotics plans to expand its business and operations throughout the globe, in order to keep up with the competition in the market due to the increasing demand for robotics. Their target is to do business internationally and come up with solutions for the barriers that come along their way. They have also kept in mind the necessities of group work and management, hence, have modeled a system that is able to control about 50 robots at a time. Their updated results, talented teams, and marvelous administrators have helped the company to increase its revenue.
The co-founder and CEO of Plus One Robotics are Erik Nieves, who has been a significant part of the journey of the company. He recently conveyed in a news release how excited the team was regarding the funding as it can let an international expansion happen for the company. This can motivate the employees to work more efficiently when they can see the progress and also visualize a development in the confidence that came from the assurance they had after receiving this recently funded amount. They are eager to grow alongside their customers, in their native market as well as abroad. He mentioned how their investors are a vivid representation of a global footprint, quite like their clients, who represent Asia, the EU, and North America as well. Erik also spoke about the chances of Plus One Robotics getting onto a course of continuing the growth of their internationally installed basebase, which has been set by this potent combination. The funding round concluded with Toshi Otani of TransLink and Whitney Rockley of McRock Capital joining the board of Plus One Robotics.