Series E Financing Drives Global Expansion, New Product Development for Pioneers of Smart, Collaborative Robots
BOSTON, December 23, 2016 — Rethink Robotics today announced $18 million in new funding as part of its Series E financing round. The new round includes funding from leading asset manager and private equity investment firm, Adveq, as well as contributions from all previous investors, including Bezos Expeditions, CRV, Highland Capital Partners, Sigma Partners, DFJ, Two Sigma Ventures, GE Ventures and Goldman Sachs.
The funding will support Rethink’s global expansion initiatives and new product development.
With multiple distribution partnerships signed in the past 18 months in China, Germany, U.K., Japan, South Korea, Australia, Mexico and Israel, Rethink Robotics’ Sawyer and Baxter robots are now deployed in more countries than ever before. Manufacturers around the globe – from DECO Lighting in Los Angeles to DHL in Germany to Wasion Group in China – are driving growth, innovation and productivity with Rethink Robotics’ Sawyer and Baxter.
“We’re seeing increasing global demand for our smart, collaborative robots as manufacturers build more connected factories in response to changing consumer needs,” said Scott Eckert, president and CEO at Rethink Robotics. “Our investors believe in the enormous market potential for simple-to-deploy, flexible robots, and this funding will help our team not only continue to develop our products to the fullest, but to make them available for manufacturers everywhere.”
Since its founding in 2008, Rethink Robotics has consistently set the standard for what smart, collaborative robots can and should do in manufacturing environments. Sawyer, developed for global distribution in 2015, significantly expands the addressable market pioneered by Baxter, Rethink’s flagship offering, launched in 2012.
To learn more about Rethink Robotics, please visit www.rethinkrobotics.com.
About Rethink Robotics
Rethink Robotics is transforming the way manufacturing gets done, with smart, collaborative robots able to automate the 90 percent of tasks that until now, have been beyond the reach of traditional automation. Its Baxter and Sawyer robots, powered by the Intera software platform, adapt to real-world variability, can change applications quickly and perform tasks like people do. The result: manufacturers of all shapes, sizes and industries get the fast-to-deploy, easy-to-use and versatile automation solution they need to increase flexibility, lower cost and accelerate innovation.
Based in Boston, the Rethink product suite is available in Asia, Europe and North America. The company is funded by Bezos Expeditions, CRV, Highland Capital Partners, Sigma Partners, DFJ, Two Sigma Ventures, GE Ventures, Goldman Sachs and Adveq. For more information about Rethink Robotics, please visit www.rethinkrobotics.com and follow us on Twitter at @RethinkRobotics.