Machina's $32M Series B Fundraise
LOS ANGELES--(BUSINESS WIRE)--Machina Labs, which combines AI and robotics to rapidly manufacture advanced composite and metal products, today announced that it has closed a Series B investment in the amount of $32 million.
The round was co-led by new investor NVentures, NVIDIA’s venture capital arm, and existing investor Innovation Endeavors, with contributions from existing and other new investors. This latest funding brings the total raised by Machina Labs to $45 million.
The investment will be used to meet accelerating customer demand, to further intensify research initiatives, and to continue delivering innovative solutions that exceed customer expectations.
“With their deep heritage in artificial intelligence and high-performance computing, we are looking forward to NVIDIA’s support as we further develop our AI and simulation capabilities,” according to Edward Mehr, CEO and co-founder of Machina Labs. “We are also thrilled to see our current partner Innovation Endeavors continue to support our vision. This Series B funding underscores the transformative potential of merging robotics and artificial intelligence. With this support, we are poised to develop the next generation of manufacturing floors; ones that can easily remake production with no hardware or tooling changes, but only requiring software modification.”
With Machina Labs, factories no longer need to be tied to specific products, but can now be configured via software to power on-demand manufacturing and unlock innovation in manufacturing. Machina Labs combines the latest advances in AI and robotics to deliver finished metal products in days – not months or years – and gives customers unprecedented time to market and competitive advantage.
“Over the past two years, Machina Labs has demonstrated the impact and scalability of combining robotics and AI in manufacturing,” said Innovation Endeavors Partner, Sam Smith-Eppsteiner. “We are thrilled to double down on our investment in Machina on the back of demonstrated execution, technology gains, and commercial traction. We expect Machina to play an important role in a number of key industrial trends of the next decade: domestic re-industrialization, defense innovation, electrification, and commercial space.”
“AI is rapidly accelerating industries across the global economy, including manufacturing,” said Mohamed “Sid” Siddeek, Corporate Vice President and Head of NVentures. “Machina Labs’s work to apply advanced computing and robotics to sheet metal formation enables companies to operate manufacturing facilities with substantially improved efficiency and broadened capabilities.”
Machina Labs uses robots the way a blacksmith uses a hammer to creatively manufacture different designs and materials, introducing unprecedented flexibility and agility to the manufacturing industry. With Machina, great ideas can quickly and affordably become reality and businesses can benefit from rapid iteration to bring more innovative products to market faster.
Robotic sheet forming is the first process enabled by Machina’s patented manufacturing platform. Using material- and geometry-agnostic technology, the platform outperforms traditional sheet-forming methods that rely on custom molds or dies.