Bright Machines, a San Francisco-based software and robotics startup, recently announced that it raised $106 million in a Series C funding round with investors including Nvidia and Microsoft. The company specializes in creating equipment and software that utilizes artificial intelligence and machine learning to automate manufacturing tasks.
In addition to Nvidia and Microsoft, other investors in the funding round included Eclipse Ventures, Jabil, BlackRock, and $20 million in debt from JP Morgan. Bright Machines plans to use the majority of the funding to further their engineering efforts, focusing on robotics, computer vision, and automation solutions.
CEO Lior Susan stated that the goal of the company is to streamline the manufacturing process by allowing engineers to design a product within the Bright Machines environment and simply press a button for a robotic system to produce the object remotely. This approach has proven successful in building AI server hardware for companies like Nvidia, significantly reducing construction time through the use of robots and software.
Susan highlighted the importance of efficiency in the AI context, emphasizing the potential cost savings and time benefits of utilizing Bright Machines tools for manufacturing processes. With a growing demand for their services, Bright Machines is also capable of producing a variety of electronic devices, including mobile phones.
Overall, the funding round reflects the increasing interest in automation and AI-driven solutions within the manufacturing industry. Bright Machines aims to continue innovating in this space, providing more efficient and cost-effective manufacturing solutions for their clients.
Article Source
https://finance.yahoo.com/news/ai-focused-manufacturing-startup-raises-130425825.html
