USA – Rios, a Palo Alto, CA-based developer of dexterous AI-powered robots for automating assembly lines, raised $5m in funding.
The round was led by Valley Capital Partners and Morpheus Ventures, with participation from Grit Ventures, Motus Ventures, MicroVentures, and Alumni Ventures Group, as well as Japanese strategic investors Fuji Corporation and NGK Spark Plug Co., Ltd. In conjunction with the funding, VCP Managing Partner Steve O’Hara, Morpheus Principal Howard Ko, and Grit Managing Partner Jennifer Gill Roberts joined Rios’ board of directors. Led by Dr. Bernard Casse, CEO and founder, Rios develops and deploys AI-powered robots for assembly lines in factories, warehouses, and supply chain operations. The robot platform consists of an AI-driven perception system (eye), a central AI (brain), and a purpose-built intelligent end-effector (hand) powered by the world’s most advanced tactile sensors. Its first product, DX-1, is a full-stack, multi-purpose robot able to perform a broad range of tasks, from pick-and-place of arbitrary objects to complex component assembly. DX-1 can interact with objects in both static and dynamic applications, such as bin picking and moving conveyor belts. The sensor data are processed by embedded processors running Rios’ proprietary AI algorithms to give the robots human-level dexterity. Robots possess true haptic intelligence capabilities including optimal grasp, slip detection, surface topography mapping, and texture discrimination. Spun out of Stanford University, the company has a pilot facility in San Carlos, CA. 30/06/2020
