Germany-based NEURA Robotics GmbH, an AI and robotics startup, announced on Tuesday, that it has secured $16M (approximately €15.1M) in a fresh round of funding from American private equity firm InterAlpen Partners.
The news comes following a recent $55M funding round with European investors.
NEURA says it will use the funds to support its growth and expansion into the US market, allowing the company to accelerate research, enhance products, expand the team, and increase market reach.
Investors supporting Neura
NEURA’s latest investment came from InterAlpen Partners, a private equity firm based in Omaha, NE, and Denver, CO.
Stephen George, InterAlpen founder says, “NEURA Robotics represents one of the most compelling companies we’ve seen in our careers. Their mission of empowering humanity with robotics is highly aligned with InterAlpen’s sustainable impact mission.”
“We believe that the amazing products and partnerships that the team have created will power NEURA to become a global industry leader in the rising field of collaborative robotics,” adds George.
InterAlpen’s goal is to partner with entrepreneurs and family investment offices, investing in and developing category-leading companies during the expansion stage.
The firm focuses on scaling innovation for strong investment returns and sustainable impact, managing around $450M in capital from its third fund.
Vision to revolutionise the world of robotics
Founded in 2019, NEURA Robotics has developed collaborative robots (cobots) with advanced sensory capabilities, enabling them to see, hear, and perceive touch. These robots use reflexive sensory processing for autonomous and predictive actions.
The company says it is developing these cobots to collaborate with humans in various industries and environments. NEURA is working towards launching the first multi-purpose humanoid robot, addressing the shortage of skilled workers.
NEURA, under CEO David Reger, claims to have become an industry leader in cognitive robotics within three years.
The company developed MAiRA, the world’s first cognitive cobot combining AI and robotics, capable of autonomous operation and interaction with humans.
NEURA’s innovations find applications in manufacturing, hospitality, and elder care, offering unmatched flexibility and cost efficiency in automation.
CEO David Reger says, “Having an American investor on board creates the perfect conditions for our US market launch in 2024.”
“We’re proud to partner with InterAlpen, particularly because Stephen George is truly an entrepreneur-investor. He was an early investor in Tesla, SpaceX, Twitter and Epic Systems, and can sense the next big thing.
InterAlpen believes that forward-looking AI and first-class hardware made in Germany will not only change robotics but change the world.”
Expansion in the US
NEURA is strategically expanding into the US, capitalising on the country’s status as the largest global market for robotics, with an estimated revenue of $7.7B in 2023.
The worldwide robotics market is anticipated to steadily grow, reaching a market volume of $45B by 2028. This expansion aligns with the growth prospects in the robotics industry.
NEURA’s product line of cobots includes MAiRA and MAiRA Jr., intelligent assistants for manufacturing and laboratories; MAV, an autonomous vehicle for indoor navigation; LARA, a versatile robotic assistant blending industrial performance with intuitive user experience; and MiPA, a multi-purpose assistant equipped with industry-leading sensors and AI for safe human interaction and task automation.
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