GrayMatter Robotics Raises $20 Million Investment

GrayMatter Robotics Secures USD 20 Million Series A Investment The company's intelligent robotic solutions automate complex surface finishing and application processes in manufacturing environments with high component variety and diversity, helping producers increase capacity and achieve cost savings. GrayMatter Robotics, a leading company in artificial intelligence and robotics technology providing intelligent automation solutions to businesses, announced today that it has raised USD 20 million in Series A funding led by Bow Capital, with participation from previous investors B Capital Group, Calibrate Ventures, OCA Ventures, Pathbreaker Ventures, Stage Venture Partners and 3M Ventures. New investors including Swift Ventures also participated in the round. GrayMatter Robotics' intelligent robotic cells support industries with high component combinations and diversity, improving quality consistency and enabling cost savings while increasing production to meet rising global demand for manufactured products and enhance workplace quality in manufacturing operations. With the new capital, GrayMatter Robotics will expand its team to meet growing customer demand. Jon Coners, Senior Manufacturing Manager at Bega North America, stated: "Our biggest concern was the very high complexity of our component combinations, so automating these kinds of operations seemed like a daunting task. Scan & Sand can work on one or multiple components and has an easy-to-use interface that operates at the touch of a button. There is no need to worry about setup, and even if you move parts around, the robot maintains the same finish! This was our first venture into robotics, so we needed not just a vendor, but a real partner to stand beside us, and GrayMatter stepped in exactly at that point." Adi Leviatan, President of 3M Abrasive Systems Division, said: "We have never seen such significant customer demand for robotic and automation solutions that help increase production, provide cost savings and deliver consistent quality performance. Our reinvestment in GrayMatter is part of 3M's effort to develop easy-to-use, automated abrasive process systems to address the challenges created by manufacturing operations with high component complexity." GrayMatter Robotics provides robotic cells for high-component surface finishing and application processes to industries manufacturing diverse products across many sectors. Shortly after its founding, the company was recognized with the RBR50 Robotics Innovation Award. Only those who develop the world's most creative and impactful innovative products in robotics are recognized with this prestigious award. Additionally, GrayMatter Robotics passed Phase 1 and Phase 2 of the NSF SBIR program and was awarded grants to develop the core technology of its product. Murray Rode, Partner at Bow Capital, said: "We are excited to invest in GrayMatter and its highly innovative team of artificial intelligence experts. We see significant potential in GrayMatter, which stands out by providing automation solutions for ergonomically challenging tasks, increasing productivity and stability in manufacturing operations, reducing operational costs and improving efficiency while providing a safer work environment and reducing waste to promote sustainability." Brual Shah, Co-founder and CTO of GrayMatter Robotics, stated: "We are a next-generation automation company shaping the future of business with intelligent robots. Automating surface finishing and application processes for mission-critical manufacturing environments poses serious engineering challenges in artificial intelligence and robotics. It is remarkable to see the impact our team continues to achieve across such a broad range of sectors, from recreational vehicles to aerospace." Ariyan Kabir, Co-founder and CEO of GrayMatter Robotics, stated: "We improve the lives of manufacturing workers, increase productivity and enable them to focus on more valuable tasks. Manufacturing shapes our economy, and if we do not automate finishing and application processes, the growing labor shortage will pose a significant risk to the global economy." GrayMatter Robotics is actively recruiting to meet customer demand, expand operations and accelerate development and deployment of next-generation artificial intelligence-robotics solutions. Source