Germany-based NEURA Robotics, an AI and robotics startup, has secured €120M in a Series B funding round.
The German company believes that this investment highlights its potential to play a key role in the European robotics sector and compete globally with major players from the US and China.
The investment round was led by Lingotto Investment Management, with contributions from BlueCrest Capital Management, Volvo Cars Tech Fund, InterAlpen Partners, Vsquared Ventures, HV Capital, Delta Electronics, C4 Ventures, L-Bank, founder David Reger, and others.
Nikhil Srinivasan, Managing Partner of Lingotto Horizon, says, “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.”
In October 2023, prior to its Series B round, NEURA Robotics raised $16M in funding from American private equity firm InterAlpen Partners. Earlier that same year, in July, the company secured $55M in funding led by European investors Lingotto, Vsquared Ventures, Primepulse, and HV Capital.
Collaborating humans and machines with cognitive robots
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 developed MAiRA, the world’s first cognitive cobot combining AI and robotics, capable of autonomous operation and interaction with humans.
NEURA Robotics is developing robots intended for collaboration with humans in industries like manufacturing, logistics, and healthcare.
In the past year, NEURA Robotics has doubled its workforce to over 300 employees and experienced a 10-fold increase in revenue. Under the leadership of founder and CEO David Reger, the company has secured an order book valued at €1B.
Capital utilisation
NEURA Robotics is focused on both its expansion and the long-term growth of the cognitive robotics sector in Europe. The new capital will support research and development, driving the launch of innovative global products built on NEURA’s Neuraverse platform.
This ecosystem, which includes an operating system and a marketplace for robotic skills, aims to accelerate cognitive robotics innovation.
Founder and CEO, Reger, says, “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.”
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