GrayMatter Robotics is a smart automation provider that creates AI-based tools and robotic assistants to speed up manufacturing tasks. It was co-founded by BUET alumnus Ariyan Kabir. Bow Capital, B Capital Group, Calibrate Ventures, OCA Ventures, Pathbreaker Ventures, Stage Venture Partners, and 3M Ventures recently led a $20M Series A investment in the company. Swift Ventures also participated in the fundraising round.
GrayMatter Robotics Raised $20m in Series A Investment
According to Ariyan, the new money will allow GrayMatter Robotics to expand its staff while also improving its product, support, services, and fuel deployments of smart robotic cells. Ariyan argues that, due to a growing labor shortage, automated surface finishing and treatment – critical responsibilities in modern manufacturing industries – assist the global economy greatly.
He said in a press release,
“We are improving the lives of shop workers by increasing productivity and allowing them to focus on higher-value jobs,”
The startup raised $4.1 million in seed capital last year, backed by Stage Venture Partners and Calibrate Ventures. This financing was also supported by B Capital Group, OCA Ventures, Pathbreaker Ventures, and 3M Ventures. GrayMatter Robotics was also honored with the RBR50 Robotics Innovation Award, which honors unique and influential robotics-based technologies. The NSF SBIR (Small Business Innovation Research) Phase 1 and Phase 2 awards also helped the AI business develop the basic technology behind its robotic tools.
GrayMatter Robotics, according to a previous press release, uses commercially accessible robots and sensors to create software that aids in industrial manufacturing. Machine vision and path planning are used to recognize the geometry of a unique robotic part, allowing the automation tool to automatically pick up and process what material to utilize. The program then instructs the robot arm to move in the desired direction and conduct the operation.