Rapid Robotics raises Series B funding

Rapid Robotics announced it has raised $36.7 million in Series B funding. This round was led by Kleiner Perkins and Tiger Global, with participation from existing investors NEA, Greycroft, Bee Partners and 468 Capital. This marks Rapid’s third round of funding in less than a year, with total funding at $54.2 million.

Rapid Robotics has seen demand for its products grow since the beginning of the pandemic, and the ongoing labor shortage has hit the manufacturing sector hard.

The San Francisco-based company offers subscriptions for pretrained cobots, called Rapid Machine Operators (RMOs), that come with integrated machine vision and AI. They can take on a range of simple machine tasks, and can share newly acquired skills via the cloud.