The California-based robot maker GrayMatter Robotics has raised $45 million, saying its technology can help the U.S. manufacturing industry to overcome a growing backlog of unfilled orders due to a severe labor shortage.
According to four-year-old GrayMatter, its platform adds artificial intelligence (AI) to smart robotic cells that assist humans in tedious and ergonomically challenging tasks. The firm says its robots autonomously handle complex tasks such as sanding, polishing, grinding, coating, and finishing—traditionally labor-intensive and ergonomically challenging jobs that can be hazardous and demand extensive training.
Despite those difficult applications, GrayMatter says its solutions work 2-4x faster than manual operation, and training that usually takes six months for humans now only takes less than a day. Over the past two years, the firm has deployed robots across North America in aerospace, defense, specialty vehicles, marine, recreation, and general manufacturing industries.
The “series B” funding round was led by Wellington Management, with participation from NGP Capital, Euclidean Capital, Advance Venture Partners, SQN Venture Partners, and other existing investors 3M Ventures, B Capital, Bow Capital, Calibrate Ventures, OCA Ventures, and Swift Ventures.
"GrayMatter is driving a pivotal transformation in manufacturing with their advanced AI solutions," Sean Petersen, sector lead for private climate investing, Wellington Management, said in a release. "Their ability to enhance productivity, energy efficiency and safety while managing costs, positions them uniquely in the market. We are excited to support their journey towards scaling these innovative technologies across various industries."
