Standard Bots Raises $63M for AI-Driven Manufacturing Robots

Standard Bots, a robotics automation company, has closed a Series B funding round, led by General Catalyst with participation from Amazon Industrial Innovation Fund and Samsung Next.

Standard Bots is a designer and assembler of collaborative robotic arms. The company’s technology leverages AI and machine learning to enable robots to learn intricate tasks by observing human demonstrations. Their intuitive software allows users to program robots without coding expertise, democratizing access to robotics technology. Standard Bots plans to make advanced, adaptable robots accessible to companies of all sizes, from small businesses to Fortune 500 corporations.

Standard Bots’ flagship product is the RO1 robotic arm, which is designed for high variability and challenging real-world applications. The RO1 is a six-axis, programmable robotic arm – designed and assembled in the USA – that is easy for operators to integrate into their existing machining or packing setups to automate both simple and complex tasks.

Standard Bots is preparing to launch new transformer-based robots capable of performing complex tasks like assembly, food preparation, and dishwashing. A transformer-based model, as mentioned in Standard Bots’ technology, refers to a type of deep learning architecture used in artificial intelligence. Transformers are particularly effective in processing sequential data and have revolutionized natural language processing. In robotics, transformer models can be used to analyze and learn from sequences of actions or movements, enabling robots to understand and replicate complex tasks more effectively than traditional programming methods.

The new Series B funding will be used to expand Standard Bots’ engineering team and accelerate the development of its series of next-generation robots in new sizes. Standard Bots has now secured $63 million in total funding to advance its AI-driven robotics technology for manufacturing applications. Other venture capital investors backing Standard Bots include Lachy Groom, Quiet Capital, 468 Capital, Lightscape Partners, and Box Group.

Standard Bots’ technology is in use at many companies – including NASA and Timken – and has applications across many industries, including automotive, aerospace, and general manufacturing. The company is headquartered in Glen Cove, New York, and was founded in 2016 by CEO Evan Beard and David Golden.

“Historically, robotics projects required a team of PhDs, multiple years of research, and deep pockets—and even after all that, use cases were often limited. We’re on a mission to make advanced, adaptable robots accessible to all,” said Mr. Beard. “Standard Bots makes it easy for any company, from small mom-and-pop shops to Fortune 500 companies, to harness the power of robotics.”

“Robotics has been the unlock for the repatriation of manufacturing, but the potential has been hindered by two major barriers: cost and flexibility,” said Quentin Clark, a managing director at General Catalyst. “We think Evan is the ideal founder for this endeavor—meticulous, driven by the broader potential for transformation, fearless, and thorough in his approach. We look forward to supporting Standard Bots and seeing how their technology will open up new possibilities for robotics across American manufacturing.”

The robotics industry is poised for significant growth, driven by advancements in AI and machine learning. According to industry reports, the global industrial robotics market is expected to reach $165 billion by 2028, growing at a CAGR of 12.3% from 2021 to 2028. Key trends include the increasing adoption of collaborative robots, AI-driven automation, and the expansion of robotics into new industries beyond traditional manufacturing.

“Robotics is having its ChatGPT moment. New advances in AI allow robots to ‘understand’ and react to actions in real-time, which means they can take on more complex jobs,” said Mr. Golden. “Looking ahead, we’re focused on expanding our product line and pioneering new applications for AI-based robotics in industries previously untouched by this technology.”

“We’re always on the lookout for novel technologies in automation and robotics. With its versatile and accurate robotics solutions, we believe Standard Bots is positioned to help redefine certain aspects of the manufacturing process,” said Franziska Bossart, the head of the Amazon Industrial Innovation Fund. “Standard Bots’ technology offers exciting possibilities for enhancing operational efficiency and reducing costs across various industries, which aligns with our commitment to fostering innovations that can create more dynamic, responsive supply chains.”

The Amazon Industrial Innovation Fund is a $1 billion corporate venture capital initiative launched by Amazon in April 2022 to support emerging technology companies through direct investments. Sectors of specific interest include warehouse automation, supply chain solutions, and logistics technologies. Initially targeting robotics and fulfillment center advancements, the fund has expanded its scope in 2024 to include transportation technologies, such as autonomous vehicles and last-mile delivery solutions.

General Catalyst invests in early-stage and growth companies across various sectors, including technology, healthcare, and consumer. The firm was founded in 2000 and is headquartered in Cambridge, Massachusetts.

With the close of this Series B round, Max Rimpel of General Catalyst will join the company’s board alongside existing board member and lead seed investor Itai Tsiddon.