Proceeds from the financing will be used to expand the Sarcos team, commercialize Sarcos’ advanced robotics technologies and expand its sales and marketing efforts.
BELLEVUE, Wash. & SALT LAKE CITY--(BUSINESS WIRE)--Sarcos Robotics, a global leader in the development of dexterous robots for use in unstructured environments, today announced the second closing of its Series A funding round. This financing, together with development funding secured from its customers and partners, brought Sarcos' total 2016 funding to more than $25 million. Proceeds from the financing will be used to expand the Sarcos team, commercialize Sarcos' advanced robotics technologies and expand its sales and marketing efforts.
With the most recent closing, Schlumberger, the world's largest oil field services firm, joins Sarcos' high profile list of blue chip strategic investors including Caterpillar, GE Ventures and Microsoft. Additionally, Ashok Belani, Schlumberger's executive vice president, technology, has joined Sarcos' Board of Directors.
About Sarcos Robotics
Sarcos Robotics is a global leader in the development and production of dexterous robotic systems for use in unstructured environments. Leveraging more than 25 years of research and development, Sarcos is producing human-controlled robots to improve health, safety, and quality of life by keeping humans out of harm's way. Time Magazine named Sarcos' Iron Man-like exoskeleton robot suit one of The 50 Best Inventions of 2010. Sarcos has offices in Bellevue, Washington and Salt Lake City, Utah. More information can be found at www.sarcos.com.