Robotiq to use funding to enhance its standing in collaborative-robotics market

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Robotiq, which provides tools and software for the collaborative-robotics market, has announced that it raised $31 million in funding during its first round of institutional financing. The funding will be used to develop products, expand internationally, and enhance support of the company’s partner ecosystem.

Robotiq develops equipment such as specially designed, plug-and-play “grippers” that can handle manufacturing tasks previously done by human hands. The company also develops force sensors, camera technology and related software, which can be used to help with a variety of manufacturing tasks such as picking up and placing certain components or products, light assembly, finishing, and quality testing.

By using Robotiq’s products, humans are freed up to not only focus on higher-value work, but also to help customers struggling with labor shortages on factory floors, Robotiq says.

“Collaborative robotics is transforming industries today, offering low-cost, easy-to-deploy solutions that stand in stark contrast to the more-complicated, legacy robotics systems of the past,” says Samuel Bouchard, Robotiq’s co-founder and CEO.

“What is amazing about these systems is how they work side-by-side with humans to improve quality, increase efficiency and minimize worker injuries. We could not be more excited to work with Battery Ventures—a firm that has demonstrated a commitment to innovation in both industrial technology and software—to take our company to the next level.”

Launched a decade ago by Bouchard, along with Vincent Duchaine and Jean-Philippe Jobin, Robotiq spun out of a project at Laval University in Canada. Bouchard, Duchaine and Jobin met as students in a robotics lab at Laval.

Today, Jobin serves as Robotiq's CTO, while Duchaine is a leading robotics researcher and professor at the Ecole de Technologie Superieure in Montreal.

Robotiq currently works with more than 190 distributors in 48 countries. The company sells its products to manufacturers in industries such as electronics, aerospace, and automotive, to name a few.