Humanoid Robot Maker Raises $123M in New FundingHumanoid Robot Maker Raises $123M in New Funding

German robot maker Neura Robotics has raised $123 million in a series B funding round as the company looks to fund its vision for developing market-ready cognitive and humanoid robots.

The funding round was led by Lingotto Investment Management and included participation from BlueCrest Capital Management, Volvo Cars Tech Fund, InterAlpen Partners, Vsquared Ventures, HV Capital, Delta Electronics, C4 Ventures, L-Bank and Neura Robotics founder David Reger.

Founded in 2019, Neura Robotics develops cognitive and humanoid robots the company said are “designed to work seamlessly with humans” in manufacturing, logistics and health care. 

“Cognitive robotics is expected to become bigger than the smartphone,” said Reger, founder and CEO. “I am proud that Neura is the first one to ship a commercially viable cognitive robot and remains the only humanoid robotics company in Germany. This investment shows the confidence our investors have in my team and in pioneering advanced robotics in Europe.”

The company plans to use the funds for research and development, as well as supporting Neura’s launch of its newest products built on the company’s Neuraverse platform and by integrating AI. 

Last year the company doubled its employees to more than 300 and achieved 10X revenue growth. 

Related:Advanced Cognitive Robot Debuts at Automate 2024

The company also said it has secured orders and commitments of more than $1 billion. 

In 2023, Neura Robotics announced it raised $55 million earmarked toward expanding operations in Asia and the U.S., and ramp up its manufacturing capabilities.

The company said it was the first to combine AI and robotics, creating robots that can perceive their environment, possess memory and make entirely autonomous decisions. Neura’s robotics platform uses “reflexive sensory processing” to give its robots predictive action and autonomous decision-making.