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Thanks to AI, the robotics industry is getting a makeover, and VCs are clamoring to back startups in the space industry that are building robots that autonomously complete tasks for their human counterparts.
2025-02-08
If 2023 was the year of generative AI, and 2024 was the year of LLMs, VCs are expecting 2025 to be the year of AI agents: AI-powered tools that can take over tasks for humans, such as software development, customer support, and drafting legal documents.
AI agents are now coming to robotics, thanks to a new tech called spatial intelligence that lets robots navigate their environment more efficiently, process data, and react in real time — all without needing a roboticist to painstakingly calibrate their every move.
"As AI advances enable robots to move from structured, repetitive tasks to more complex and dynamic real-world applications, we'll see rapid progress in robotic perception, manipulation, and decision-making capabilities," IVP's Yuri Lee told Business Insider recently.
Today, startups are developing AI robots that can autonomously organize a warehouse, unload a delivery truck, or assist with a surgical procedure.
Business Insider analyzed PitchBook data to identify US-based AI robotics startups that closed funding rounds in 2024 and overall have raised between $75 million and $150 million from VCs. The 11 startups are ranked from most to least money raised.
The Bot Company
Kyle Vogt, CEO of The Bot CompanyKyle Vogt
What it is: The Bot Company builds robots that tackle household chores and free up humans' time.
Founded: 2024
Total funding: $150 million, according to PitchBook
Notable deal: The Bot Company launched in 2024 and announced a $150 million seed round from Quiet Capital, Nat Friedman, Spark Capital, Maven Ventures, Factorial Funds, Soma Capital and Daniel Gross.
Cobot
Collaborative Robotics founding team Brad Porter, Jane Mooney and Steph Tryphonas.Collaborative Robotics
What it is: Collaborative Robotics, also known as Cobot, is working to improve human-robot interaction by building trustworthy and safe robots that can work alongside people.
Founded: 2022
Total funding: $140 million, according to PitchBook
Notable deal: General Catalyst led Cobot's 100 million Series B funding round in April 2024. Bison Ventures, Industry Ventures, Lux Capital, Sequoia Capital, Khosla Ventures, and Mayo Clinic also participated.
Botrista
Botrista founder Sean HsuSean Hsu
What it is: Botrista's robots mix specialty beverages such as teas, iced coffees, and lemonades.
Founded: 2017
Total funding: $119 million, according to the company
Notable deal: Botrista's $65 million Series C was announced in July 2024, and Jollibee Foods led the round.
Realtime Robotics
Peter Howard, president, CEO and co-founder of Realtime RoboticsPeter Howard
What it is: Realtime Robotics is developing software that makes existing manufacturing robotics autonomous.
Founded: 2015
Total funding: $107 million, according to PitchBook
Notable deal: In May 2024, Realtime Robotics announced a $45 million Series B funding round led by Mitsubishi Electric.
Simbe
Brad Bogolea, CEO and co-founder of SimbeBrad Bogolea
What it is: Simbe is developing robots that work in retail stores.
Founded: 2014
Total funding: $105 million, according to the company
Notable deal: Simbe, in October 2024, closed a Series C equity financing round led by Growth Equity at Goldman Sachs Alternatives. Eclipse and Valo Ventures also participated in the round.
Pickle Robot
Pickle Robot Company CEO AJ MeyerPickle Robot Company
What it is: Pickle Robot is building robots that can unload packages from trucks.
Founded: 2018
Total funding: $97 million, according to PitchBook
Notable deal: Teradyne Robotics Ventures, Toyota Ventures, Ranpak, Third Kind Venture Capital, One Madison Group, Hyperplane, and Catapult Ventures participated in Pickle Robot's $50 million Series B in November 2024.
Mendaera
Mendaera co-founders Josh DeFonzo and Jason WilsonMendaera
What it is: Mendaera is developing AI-powered surgical robots.
Founded: 2020
Total funding: $99 million, according to the company
Notable deal: Threshold Ventures led Mendaera's $75 million Series B funding round in September 2024. Lux Capital and PFM Health Sciences also participated in the round.
Third Wave Automation
Arshan Poursohi, CEO of Third Wave AutomationArshan Poursohi
What it is: Third Wave Automation builds autonomous forklifts.
Founded: 2018
Total funding: $102 million, according to the company
Notable deal: Third Wave Automation closed a $27 million Series C funding round in October 2024 led by Woven Capital, Toyota's growth fund. Endeavors, Norwest Venture Partners, and Qualcomm Ventures also participated in the round.
Farmwise
Tjarko Leifer, FarmWise CEOTjarko Leifer
What it is: Farmwise is building autonomous farming robots.
Founded: 2016
Total funding: $88 million, according to PitchBook
Notable deal: Farmwise, in May 2024, raised $10 million through convertible notes.
Standard Bots
Evan Beard, Standard Bots CEOEvan Beard
What it is: Standard Bots is building autonomous robotic arms that work on an industrial shop floor.
Founded: 2011
Total funding: $87 million, according to PitchBook
Notable deal: In July 2024, Standard Bots raised a $63 million Series B led by General Catalyst.
Mytra
Chris Walti, co-founder and CEO of MytraChris Walti
What it is: Mytra is building software and hardware to improve robots that work in warehouses.
Founded: 2022
Total funding: $78 million, according to the company
Notable deal: Eclipse, Life Extension Ventures, and Greenoaks Capital Partners led Mytra's $50 million Series B funding round in July 2024.
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