Foundry Robotics Raises $100 Million to Build Autonomous Factories
Foundry Robotics raised $100 million in a Series A funding round led by Marlinspike Partners to expand its autonomous factories serving defense and commercial hardware.
Emeryville-based Foundry Robotics announced raising $100 million in an oversubscribed Series A funding round led by Marlinspike Partners, as reported by Business Wire via AOL.
Khosla Ventures, Red Glass Ventures, SE Ventures, Wing VC, Axiom Ventures, Hanabi, and Zero Shot Fund also participated in the round.
The company builds and operates autonomous factories to perform complex assembly operations, and has expanded its facility to 130,000 square feet.
The company's customers include defense and commercial hardware sectors, such as drones, satellites, wire harnesses, and data center infrastructure.
What do these terms mean?
Series A: The first major round of funding raised by a startup after seed capital, typically used to expand the team and product.
Autonomy: The ability of a factory or machine to perform work steps without continuous human intervention, through software and sensors.
Wire Harnesses: Bundles of electrical wires arranged and connected together to transmit power or signals within a device, vehicle, or building.
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