Germany-based AI and robotics startup, NEURA Robotics GmbH, announced a fresh funding injection of $16M (approximately €15.1M) from US private equity firm, InterAlpen Partners. This comes on the heels of a $55M funding round with European backers.
About NEURA Robotics
Founded in 2019, NEURA Robotics is on a mission to revolutionise the world of robotics. With advanced sensory capabilities, their collaborative robots (cobots) can see, hear, and perceive touch, employing reflexive sensory processing for autonomous and predictive responses. NEURA’s vision is to design these cobots to work alongside humans across different sectors.
Spearheaded by CEO David Reger, the startup claims to have become an industry front-runner in cognitive robotics within three short years. Their flagship product, MAiRA, stands out as the world’s first cognitive cobot fusing AI and robotics, ensuring autonomous operations and human interactions. With applications spanning from manufacturing to elder care, NEURA’s innovations offer unmatched flexibility and cost-efficient automation.
Investor insights
InterAlpen Partners, based in Omaha, NE, and Denver, CO, led this investment round. Stephen George, InterAlpen’s founder, expressed strong conviction in NEURA Robotics. He highlighted that the company’s goal of empowering humans with robotics synchronises perfectly with InterAlpen’s sustainable impact ethos.
Adding to his praise, George stated that NEURA’s outstanding products and collaborations position them to dominate the burgeoning field of collaborative robotics. InterAlpen, managing a substantial $450M in their third fund, typically collaborates with innovative entrepreneurs, aiming to scale groundbreaking ideas for impressive investment returns and sustainable impacts.
US expansion strategy
With the new funding, NEURA Robotics intends to bolster its growth and delve deeper into the US market. Their goal is to expedite research, refine products, enlarge their team, and extend their market reach. CEO David Reger conveyed his enthusiasm about collaborating with InterAlpen and emphasised the investor’s knack for spotting potential, citing early investments in Tesla, SpaceX, Twitter, and Epic Systems. He believes the upcoming US market launch in 2024 is now perfectly poised, backed by a supportive American investor.
Having an American investor on board creates the perfect conditions for our US market launch in 2024.
David Reger, CEO of Neura Robotics
Market potential
The strategic US entry comes at a crucial time. The US stands as the global pinnacle for robotics, expecting a revenue of $7.7B in 2023. Aligning with industry trends, the global robotics realm is forecasted to reach a staggering market volume of $45B by 2028. NEURA’s versatile product line, including MAiRA Jr., MAV, LARA, and MiPA, are all set to make a significant mark in this growing market.
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