Goldman leads Series C for Japan's Rapyuta Robotics
Goldman Sachs has led a USD 51m Series C round for Rapyuta Robotics, a Japan-based developer of collaborative pick-assist robots commonly used in warehouses.
The company, which has now raised USD 81m to date, will use the new funding to accelerate the expansion of its robotics solutions and artificial intelligence (AI) technologies. The goal is to retain a market-leading position as the industry shifts to autonomous mobile robots and cloud-based software, according to a statement.
Founded in 2015 as a spinout from the Swiss Federal Institute of Technology (ETH Zurich) and headquartered in Tokyo, Rapyuta develops robots for all logistics applications. It claims that customers have doubled their productivity within five months of introducing its pick-assist solution.
Rapyuta’s next-generation cloud robotics platform, rapyuta.io, relies on advanced control and AI technologies to improve warehouse efficiency and safety, enable multiple robots to work together, and create a seamless, and remote-controlled, robot ecosystem.
“While the global logistics industry is rapidly expanding due to rising e-commerce demand, it faces a wave of digitisation and a challenge of labour shortage,” said Stephanie Hui, global co-head of growth equity at Goldman Sachs Asset Management.
“As the industry seeks for automation solutions to improve efficiency, we are optimistic about the growth of Rapyuta Robotics as a pioneer in cloud robotics platforms.”
The company received JPY 351m (USD 3m) in 2015 from SBI Investment, Cyberdyne, Fuji Creative, and VCube, AVCJ Research’s records show. SBI and Cyberdyne contributed a further JPY 1bn in 2016 and then Rapyuta raised approximately the same sum again from JMTC Capital, Sony Innovation Fund and Sumitomo Mitsui Trust in 2018. Mercuria Investment invested an undisclosed sum in 2020.
While Japan’s ageing population, low birth rate, and labour shortage make it a logical fit for automated logistics solutions, much of the capital entering the space region-wide has gone to China. Last year, XYZ Robotics, a regular top-three finisher in Amazon’s robot picking challenge, which involves using sensors and cameras to identify and retrieve objects positioned at random in a bin, closed a USD 35m Series B.
VC-backed competitors include Mech-Mind Robotics. In the broader warehouse robotics landscape, Geek+ is arguably the best-funded Chinese start-up. The company, which manufactures robots used to move merchandise around warehouses, closed a USD 200m Series C in 2020.
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