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Robotic Vision Startup Plus One Raises $33M

Based in San Antonio, Plus One Robotics today announced the company had raised $33 million in Series B. This comes on top of the announcement of an $8.3 million Series A announced in 2018 and will bring the total capitalization to more than $40 million. The round, which McRock Capital and TransLink Ventures led, is comprised of BMWi Ventures, Kensington Capital Partners, Ironspring Ventures, and existing investors.

The firm focuses primarily on computer-vision software that can be used for robots used in warehouse and logistics locations — an emerging field as more businesses look to automatize their back-end. The software is mainly built to work with many robotic grippers and arms, which can meet the user’s other requirements.

The company intends to utilize the money to expand its operations globally to meet increasing robot demands. The system can also allow group management to control up to 50 robots simultaneously.

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“We are excited to expand with our clients both across the globe and here. As our customers and investors, our investors have a global presence that includes Asia as well as the EU and North America,” CEO and co-founder Erik Nieves said in a release that was released in conjunction with the announcement. “This potent combination sets Plus One on a course to continue growing our international installed base.”

The round includes Whitney Rockley of McRock Capital, and Toshi Otani from TransLink joined Plus One’s board.

Ru
Ru
Ru is driven by the desire to inspire others about life and happiness. Before her infamous writing career, she consumed a lot of digital content and became an overachiever. When she is not writing, you can find her under the stars with her best friend Guitar. She's also a Nutritionist who is here to tell you some mind-blowing facts about your tasty food.

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