Neura Robotics is raising production capacity and broadening its reach as it builds robots designed to work in changing environments alongside people. The German startup has raised $55 million, which it plans to put toward research and development, manufacturing, and expansion in Asia and the U.S.
Funding meets a production constraint
The company says its order book is now at $450 million over the next five years. CEO and founder David Reger told TechCrunch that customer demand is higher still, but production capacity is limiting how much the company can supply.
The new funding comes from Lingotto, an investment management company that is part of PE firm Exor N.V., along with Vsquared Ventures, Primepulse and HV Capital. Neura did not disclose its valuation.
The financing also follows a change in the company’s ownership. Neura had previously raised around $80 million from Han’s Group, a China-based conglomerate. Before the latest investment, Reger said Neura bought out that strategic backer to clear the cap table and make room for financial investors. He described the company’s goal as building its potential worldwide as an independent business.
Robots built to adapt around people
Neura’s idea of cognitive robotics starts from a different assumption about industrial automation: instead of reshaping a work environment extensively to accommodate a robot, the robot should be able to operate safely in environments designed for people.
The company describes its cognitive machines as having memory and the ability to handle a complex, changing mix of variables. Its collaborative robots, or “cobots,” are designed to work with people. Reger said sensors and safety features can make a cobot stop or adjust its movement if a person comes into contact with it.
Neura currently offers three models spanning robotic arms and more human-like forms: the MAV mobile robot, the LARA “high-end cobot,” and MAiRA, which the company describes as the “world’s first cognitive robot.” Its platform can be trained and operated in any language and dialect, Reger said, and works online and offline.
A platform for industrial applications
Neura’s current business is primarily aimed at other businesses, with the possibility of business-to-business-to-consumer applications. Reger said Japan’s Kawasaki is already selling its own cobot series based on Neura’s platform.
The company’s industrial models range in price from €5,000 to €40,000. Its planned MiPA service robot is intended for offices, care facilities, and homes, and Reger said it “will be priced well below ten thousand euros.”
Neura is making both hardware and software, including sensors, components, and the AI that powers its systems. It also plans to work with customers and partners on specialized applications such as welding, warehousing, gluing, sanding, and assembly. Reger said partners can use Neura’s AI on any robot through an API, while the company’s own hardware can be adapted with customers.
From industrial robots to service machines
Neura’s industrial work also feeds into its plans for the MiPA service robot platform. Reger said the company is focusing on industrial applications while putting its know-how and technology into a machine intended to help in offices, care settings, and homes.
The company aims to deliver what Reger called a cognitive “one-device robotic platform” in two years. He said humanoid robots that collaborate with people across different parts of society and in human-designed environments could be real in just a couple of years, and could help address a general shortage of skilled workers.
That vision depends on more than Neura’s own products. The company says it wants partners from around the world and across industries to connect to its platform and develop applications. It calls this ambition the “Neuraverse.” The funding is intended to help Neura grow production and pursue that broader platform while it continues to develop robots for industrial and service uses.