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Tuesday, June 19, 2012

$30 Million Funding to Rethink Robotics (formerly Heartland Robotics)

Heartland Robotics, founded by iRobot co-founder Rodney Brooks to develop a new class of manufacturing robots, today announced that it is changing its name to Rethink Robotics, Inc and had secured $30 million in Series C financing. The funding round was led by Sigma Partners, with participation from all prior investors as well as a new investor, Draper Fisher Jurvetson. The funds will be used to launch the company’s new robot product, begin development of new product lines, and expand sales, marketing, and services operations.
The company is developing a new generation of robots to improve productivity in manufacturing environments. The company claims that its robots will be intuitive to use, capable of atonomously sensing and adapting to their environment, versatile, and flexible. They’ll be also easy to buy, train, and deploy and will be much less expensive than traditional industrial robots.
So far Rethink Robotics has received $57 million in start-up funding by Charles River Ventures, Highland Capital Partners, Sigma Partners, Draper Fisher Jurvetson, and Bezos Expeditions, the personal investment company of Jeff Bezos.

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