Realtime Robotics, an autonomous robot platform developer, has announced that it has secured US$14.4m (£12.3m) in additional funding, with Soundproof Ventures, Heroic Ventures and SIP Global Partners as lead investors.
The funding comes following the official launch of the company’s new RapidPlan software, which the firm claims helps manufacturers design and deploy industrial automation faster and more efficiently.
The solution is designed to automate programming, deployment and control of industrial robots and autonomously choreograph their movements.
According to Realtime Robotics, within RapidPlan, a user can build a digital twin of their workcell and use its click and drag system to visualise collision-free task plans, which can reportedly save weeks of planning per project. This same software can also be used to control a company’s real-world robots.
“We have seen a tremendous industry response to the launch of RapidPlan and its ability to make collision-free operations a reality for industrial robotics, speeding programming time and increasing throughput,” said Peter Howard, CEO of Realtime Robotics.
“We’ve recently pivoted away from hardware to pure software, making it even easier for all customers and partners to integrate our revolutionary technology within their existing stack and workflows.
“This latest round of funding will assist us in scaling to meet demand.”
Recent research suggests that more than 80% of warehouses today lack any form of automation. By combining that statistic with research by the Material Handling Institute, which states that robotics implementation in warehouses will grow by more than 50% during the next five years, Realtime Robotics believes there is a massive market opportunity available.
Technology that optimises the use of industrial robots can help drive quicker ROI across the industry, especially for organisations eager to switch to automation.
The new funding round will contribute to further scaling of the organisation, as well as broader engineering development to support the advancement of its software.
