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Category: Business/Financial News

Robotics | IoT

Furhat Robotics raises $2.5 million in investments

Furhat Robotics, a company working to combine conversational artificial intelligence with robotics technology to develop social robots, secured $2.5 million in seed funding from venture capital investors Balderton Capital and LocalGlobe. “This funding will provide us with the muscle to bring Furhat to a new level and engage in substantial commercial partnerships with industry leaders…

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Medtronic, Mazor Robotics close $40m round

Mazor Robotics (NSDQ:MZOR) said today that closed the third, $40 million tranche of a deal with Medtronic (NYSE:MDT), which is due to take on exclusive global distribution rights for the Mazor X robot-assisted surgery device. It’s the third investment in the Israeli surgical robotics concern for Fridley, Minn.-based Medtronic, taking its total investment to $72 million, 10.6% stake in…

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iRobot shares slip SharkNinja’s market entry

Shares iRobot (NSDQ:IRBT), which makes the Roomba robotic vacuum, slid nearly -4% yesterday after a competing product hit the shelves. After the introduction of the Shark Ion Robot, created by household appliance company SharkNinja, iRobot closed down -15.7% at $85.08 apiece Sept. 12 and dropped a further -3.8% to close yesterday at $81.85 per share.…

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Reactive Robotics receives second round funding

Munich-based company Reactive Robotics GmbH secured a second seven-digit funding round to continue its work in rehabilitation robotics development. Investors included new lead investor Dr. Doll Holding GmbH and existing investors MTIP MedTech Innovation Partners AG, High-Tech Gründerfonds, Bayern Kapital and TQ-Group. Reactive Robotics intends to use the funds to further market entry in Germany…

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Investors merge firms, raise fund to support AI

Investors Jennifer Gill Roberts and Kelly Coyne are merging their respective companies, seed-stage investment firm Grit Labs and go-to-market firm Pitch, under the name Grit Labs to invest in and guide companies performing research in artificial intelligence and robotics. They have also created a $30 million fund to focus on B2B robotics powered by AI…

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Polar Capital to launch AI, automation fund

Polar Capital said it plans to launch an automation and artificial intelligence fund to support companies worldwide working in industrial automation, AI, robotics and advanced materials. “Technology is changing the world we live in and the pace of disruption is accelerating – knowledge of technology is becoming critical for all investors,” CEO Gavin Rochussen said…

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ABB to expand Michigan-based factory

Swiss company ABB plans to expand its industrial robot factory in Auburn Hills, Mich., CEO Ulrich Spiesshofer told Reuters this week. He did not comment on new jobs or investments associated with the expansion. The facility, which was first announced in 2015, produced its first robot in March and currently employs about 1,000 people. ABB…

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TransEnterix inks sales agreement to offer $50m in stock

TransEnterix (NYSE:TRXC) said today it inked an at-the-market equity offering sales agreement to sell an aggregate of $50 million in shares of common stock with Stifel, Nicolaus & Co acting as the sales agent. As part of the deal, Stifel will engage in selling shares on the company’s behalf, with Transenterix designating the maximum amount of shares…

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Medrobotics touts 1st colorectal procedure with Flex robotic system

Medrobotics said today that its Flex robotic system was used in its 1st colorectal surgery, touting it as a global 1st for the system. The surgery was performed at George Washington University Hospital by Dr. Vincent Obias, the company said, to remove a suspected cancerous lesion from the rectum of an adult male. The procedure…

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