San Antonio-based Plus One Robotics today announced a Series B of $33 million. This round comes on top of the announcement of an $8.3 million Series A that was made in 2018 and increases the total capitalization to more than $40 million. The round, which was led by McRock Capital and TransLink Ventures, is comprised of BMWi Ventures, Kensington Capital Partners, and Ironspring Ventures, along with existing investors.
The firm is focused mainly on computer vision applications designed for robots used in warehouse and logistics environments, clearly an area of interest as more businesses look to automate their back-end. Particularly, the software is built to work with many different grippers and robotic arms that are able to meet the diverse needs of the final user.
The company is planning to make use of the funds for the expansion of operations across the world to keep pace with the increasing demands for robots. The system is also able to allow group management, which can control up to 50 robots simultaneously.
“We are delighted to be expanding our clientele both across the world as well as here. similar to our customers “Our investors also have a global presence that includes Asia as well as the EU and North America,” CEO and co-founder Erik Nieves said in an announcement that coincided with the announcement. “This powerful combination positions Plus One for continued growth of its international installed base.”
The round also includes Whitney Rockley of McRock Capital and Toshi Otani from TransLink, who joined Plus One’s board.
