USA – Rise Robotics, a Somerville, Mass.-based provider of electric linear actuation solutions, raised $3m in funding.
The round was led by The Engine. Reed Sturtevant, a General Partner of The Engine, and angel investor Walter A. Winshall will join RISE Robotics’ Board of Directors. The company intends to use the capital to work with a leading forklift manufacturer to accelerate the electrification of its machinery, increasing the performance of the manufacturer’s existing electric forklifts and enabling the electrification of its larger scale machinery, which is currently diesel-fueled. Co-founded by Arron Acosta, Blake Sessions, Toomas Sepp and Kyle Dell’Aquila, Rise provides a platform that offers new mechanical motion technology that makes electric-powered motor-to-movement solutions possible. Linear actuators create the push-and-pull movements in the mechanisms of heavy machinery which are essential for lifting and loading materials across many industries, including: construction, agriculture, and waste management. The company was part of the Techstars accelerator and has received angel funding from notable Boston investors and advisors including John P. Strauss, William J. Warner, and Walter A. Winshall. RISE Robotics has two commercial agreements, one with a major manufacturer of lifting machinery, and another with the U.S. Air Force. 10/04/2020
