Neura Robotics, renowned for its advancements in cognitive robotics and recognised as the sole humanoid robotics company based in Germany, has secured €120 million in a Series B funding round. This significant injection of capital is indicative of the company's strategic importance within the cognitive robotics sector and highlights its ambition to lead in the European robotics arena while competing with major players in the US and China.
The funding round was initiated by Lingotto Investment Management, with considerable contributions from various investors including BlueCrest Capital Management, the Volvo Cars Tech Fund, InterAlpen Partners, Vsquared Ventures, HV Capital, Delta Electronics, C4 Ventures, and L-Bank, among others. This diverse group of investors underscores a collective confidence in Neura Robotics’ future potential.
Founded in 2019, Neura Robotics has demonstrated rapid growth and innovative prowess, focusing on the development of robots that are designed for seamless collaboration with humans across multiple sectors, including manufacturing, logistics, and healthcare. The company has developed a reputation as a global leader in both cognitive and humanoid robotics, showcasing a unique capability in sensor technology and AI integration. Notably, Neura Robotics is credited with launching the world’s first cognitive collaborative robot, known as a "cobot," and is now working on additional humanoid robot models that are nearing market readiness.
In the past year, Neura Robotics has remarkable expanded its workforce, doubling its employees to over 300 and recording an extraordinary tenfold increase in revenue. Under the guidance of its founder and CEO, David Reger, the company boasts a substantial order book valued at around €1 billion, indicating a robust demand for its products and services.
David Reger expressed confidence in the transformative potential of cognitive robotics, stating, “Cognitive robotics is expected to become bigger than the smartphone. I am proud that Neura is the first one to ship a commercially viable cognitive robot and remains the only humanoid robotics company in Germany. This investment shows the confidence our investors have in my team and in pioneering advanced robotics in Europe.”
Supporting Reger's optimistic outlook, Nikhil Srinivasan, managing partner at Lingotto Horizon, remarked: “We are proud to invest in Neura Robotics and its visionary founder, David Reger. Neura’s exceptional technological expertise and groundbreaking innovation are transforming both industrial and consumer robotics. With phenomenal AI capabilities, an extraordinary growth trajectory, and a billion-dollar order book, Neura is on track to potentially becoming a multi-billion-dollar company and one of the most prominent robotics companies in the world.”
The backing from high-profile investors and the fast-paced growth of Neura Robotics suggest a vibrant future for the company and point to significant advancements in the field of robotics, particularly in relation to AI's role in augmenting and automating business processes across various industries.
Source: Noah Wire Services