Standard Bots Announces $200 Million in Funding as it Expands Manufacturing
AI industrial robotics manufacturer Standard Bots announced a $200 million Series C venture-capital funding round led by existing investors and robotics investment fund RoboStrategy at a $1 billion valuation as it also expands its manufacturing in New York.
The company is expanding with the goal to deploy American-made robots at scale for customers ranging from Fortune 100 companies to SMB manufacturers in the U.S.
Standard Bots has deployed AI-native, industrial robots to hundreds of companies across the U.S. ranging from small businesses to large manufacturers in oil and gas, automotive, aerospace and data centers.
Standard Bots is expanding its Glen Cove, New York facility to 70,000 square feet as it aims to scale its vertically integrated production process amidst rapid growth in demand, and is on pace to deliver 10% of new U.S. industrial robot deployments by next year, the company claimed.
“AI-native robots are the essential power tool of the 21st century—the tool that will grow American manufacturing and help every worker to be a force at work,” said Evan Beard, co-founder, CEO and chief engineer of Standard Bots. “AI will allow industrial robots to do 100x more tasks with full autonomy. You just show your robot how it’s done, and it learns through demonstration. The quickest way to get to full autonomy is through deployments, collecting real-world data, and iterating as fast as possible. Standard Bots is the furthest along in that regard with the most vertically integrated, onshore production process, and this new capital just accelerates all of that.”
Standard Bots makes AI-native robot arms and industrial humanoids that require no code to program for fast deployment and ease of maintenance across a range of applications including machining, welding, palletizing, grinding, fastening, dispensing, assembly, inspection and more, according to the company. It also claimed that this results in a 20-30% lower price point than legacy manufacturers. The company aims to manufacture virtually everything in-house in America by next year.
Standard Bots has also served as an advisor to Congress on a National Robotics Strategy, including testimonies to the Joint Economic Committee and Subcommittee on Research and Technology. Key policy recommendations include financial support for American manufacturers to invest in robotics, and a ban on Chinese-made industrial robots and robotics components, according to the company.
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