Amazon-Backed Robotics Firm Raises $29M

Amazon has emerged as a major investor for robotics company Veo Robotics, as the retailer continues its plan to expand its robotics pipeline.

The robotics company designs safeguarding tools for industrial robots, combining sensor and computer vision technology to improve human-robot collaboration and create a safe work environment. 

Veo Robotics closed its series B funding round with $29 million, led by investors Yamaha and Safar Partners, and following past investment from Google Ventures and Baidu Ventures. 

Amazon participated in the investment via its $1 billion Industrial Innovation Fund, which was established last year. Investment into robotics’ has made up the primary focus of the fund thus far, including investments into Agility Robotics, BionicHIVE and Mantis Robotics.

According to Veo, the funding will be used to further its aim of working with corporate partners to develop and deploy next-generation collaborative robots.

“The newest generation of intelligent robotic systems work with people, not separately from them,” said Clara Vu, Veo Robotics’ CTO. “Unlocking this potential requires a new generation of safety systems – this is Veo’s mission, and we’re very excited to be taking this next step.”

“As investors, we were drawn to Veo Robotics' focus on safety in the workplace,” said Matt Peterson, director at Amazon’s Industrial Innovation Fund. “Their technology is both collaborative and effective, prioritizing employee wellbeing.”

The company’s flagship product, FreeMove, is a 3D-safeguarding solution designed to improve human-robot collaboration. The system monitors work environments using 3D sensing technology and ensures a safe boundary between humans and robots is maintained.