RGo Robotics Exits Stealth Mode with $20M in Funding & Major Customer Wins
Pioneer in human-level artificial perception technology closes funding round with goals of disrupting the mobile robotics industry
RGo Robotics, a pioneer in artificial perception technology that enables mobile robots to understand complex surroundings and operate autonomously, today exited stealth mode with $20 million in funding. The investment round, led by MoreTech Ventures, will allow RGo Robotics to continue rapid expansion of both its R&D and commercial teams to bring its Perception Engine to market.
RGo Robotics develops disruptive AI-powered technology for autonomous mobile robots, which allows them to achieve 3D, human-level perception. Its Perception Engine gives mobile robots the ability to understand complex surroundings and operate autonomously like humans. RGo was founded in 2018 and has been operating in stealth mode since then, partnering with global robotics leaders to evolve its revolutionary offering.
After extensive field trials in challenging indoor and outdoor environments, RGo has secured several customers and has closed over $10M in customer deals. The design wins are with global, market leading robot OEMs across multiple vertical markets.
"Most mobile robots today are still blind and unable to navigate intelligently in dynamic and complex environments, and we see first-hand how hard it is for machine and robot manufacturers to develop basic visual perception on their own," said Amir Bousani CEO & Co-Founder, RGo Robotics. "Our technology changes this. Leveraging the most advanced AI and vision technologies, Perception Engine allows mobile machines to see and understand the world around them so they can move autonomously, safely and intelligently in any environment. We call this Intelligent Autonomy."
"MoreTech Ventures sees tremendous growth potential for the mobile robotics industry and RGo's technology is the key to unlock that potential," said Zack Keinan, General Partner, MoreTech Ventures. "The applications for Perception Engine are nearly endless, from AGV/AMRs in logistics and manufacturing to last mile delivery and service robots, agriculture and consumer applications. We are very excited to lead this Series A financing round, and to partner with RGo's exceptional management team as they scale globally."
"StageOne partners with visionary innovators that have the potential to have a profound impact on the worldwide enterprise market. RGo's early traction with global market leaders is a testament to the technology and leadership team," said Tal Slobodkin, Managing Partner, StageOne.
RGo Robotics Perception Engine
RGo is also announcing the immediate availability of its revolutionary Perception Engine. The solution includes hardware and software components. The software runs on ultra-low-cost, low-power hardware that is provided as a reference design, allowing partners to integrate Perception Engine into their robots easily. The software is provided as an SDK which can provide all the real-time data on the edge.
Perception Engine learns its environment and provides all the layers of information a robot needs to be able to move naturally in complex, real-life settings. The perception data is provided over its API. This data is then consumed by the robot control system which is responsible for path planning and autonomous behaviors.
"As the use of robotics continues to exponentially grow across industries, RGo's solution is a game changer. Manufacturers will be able to offer more intelligent mobile robots and accelerate time-to-market without having to focus their R&D teams on this extremely complex technology area," said Nilanjana Bhowmik, Co-Founder & General Partner, Converge.
RGo has also been selected as a winner of Robotics Business Review's RBR50 Robotics Innovation Award this year. For over a decade, Robotics Business Review's RBR50 Robotics Innovation Awards have highlighted the most creative and influential innovations from around the world that have advanced the state of robotics.
To learn more about RGo Robotics, please visit rgorobotics.ai.
About RGo Robotics
RGo Robotics is a pioneer in artificial perception technology enabling mobile robots to understand complex surroundings and operate autonomously like humans. Patent-pending computer vision and AI technology comprise Perception Engine, which runs on ultra-low-cost, low-power hardware. The applications for Perception Engine are nearly endless, from AGV/AMRs in logistics and manufacturing to last mile delivery and service robots in commercial and consumer markets. RGo partners with robotics manufacturers who share its vision of a future where automation is unfettered but focused on real-world solutions. RGo Robotics has offices in Caesarea, Israel and Cambridge, Massachusetts and is backed by a diversified set of leading investors and strategic partners including Converge, StageOne, MoreTech Ventures, and a global undisclosed robotics leader. It has raised over $20M in funding including its Series A in January 2022. For more information, visit rgorobotics.ai.
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