Cognitive Robotics Startup Raises $16M for US Expansion

Robotics startup Neura Robotics has closed a $16 million investment round to advance its pipeline of cognitive robots to U.S. markets.

The latest funding was led by InterAlpen Partners and follows a $55 million funding round in July by European investors Lingotto (an investment management company owned by Exor N.V.), Vsquared Ventures, Primepulse and HV Capital.

Neura’s robots leverage AI and machine learning (ML) to see, hear and even have a sense of touch, as well as reflexive sensory processing to perceive and interact with their environment, make autonomous decisions and possess memory. 

The resulting smart robots are intended for a range of use cases, designed to meet ongoing labor shortages and work collaboratively with humans in industries such as manufacturing and heavy industries, as well as in domestic settings.

The company’s product pipeline so far consists of four robots: multi-sensing indoor mobile robot MAV, industrial robotic assistant LARA, multi-purpose service robot MiPA and MAiRA, which Neura said is the “world’s first cognitive robot” and is designed for deployment in manufacturing and laboratories.

Neura is still working on scaling up its robot production, though with the latest funding the company said it is even closer to expanding into the U.S. and bringing its humanoid robots into commercial use.

Related:‘Cognitive Robotics’ Company Raises $55M

“Neura’s imminent expansion comes at an opportune time,” the company said in a statement. “The U.S. is the biggest market for robotics in the world, generating an estimated $7.7 billion in revenue in 2023. The global robotics market is expected to grow steadily to a market volume of $45 billion by 2028.”

“Having an American investor on board creates the perfect conditions for our U.S. market launch in 2024,” said David Reger, Neura’s CEO. “InterAlpen believes that forward-looking AI and first-class hardware made in Germany will not only change robotics, but change the world.”