Neura Robotics, a German startup founded in 2019, has secured a substantial $55 million in funding to further its development of cognitive robots, which it dubs “cobots.”
These machines possess memory, can operate in complex and dynamic environments, and collaborate effectively with humans.
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With the new investment, the company plans to expand its business in Asia and the U.S., invest in research and development, and boost its manufacturing capabilities to meet the growing demand for its products.
The funding comes from several investors, including Lingotto, an investment management company associated with PE firm Exor N.V., as well as Vsquared Ventures, Primepulse, and HV Capital.
While the startup’s valuation remains undisclosed, this funding round marks a shift for Neura, as it had previously raised approximately $80 million solely from Han’s Group, a China-based conglomerate with diverse holdings.
Before the recent investment, Neura bought out Han’s Group to create space for new financial investors, aiming to position itself as an independent company with global potential.
Neura’s CEO and founder, David Reger, shared his belief that partnerships with pure financial investors would be more beneficial in today’s deglobalized world.
Unlike many other advanced autonomous systems companies that often overpromise and underdeliver, robotics startups like Neura have shown tangible progress.
Currently, Neura offers three robot models, including the MAV mobile robot, the LARA “high-end cobot,” and MAiRA, claimed to be the “world’s first cognitive robot.”
The company predominantly focuses on business-to-business (B2B) applications, and potentially business-to-business-to-consumer (B2B2C) markets.
Notably, Japan’s Kawasaki is already selling its own cobot series based on Neura’s platform.
The pricing for Neura’s industrial models ranges from €5,000 to €40,000.
Meanwhile, the upcoming MiPA service robot, designed for offices, care facilities, and homes, will be priced at less than ten thousand euros.
Before founding Neura, David Reger had accumulated seven years of experience in robotics, both in management roles and robot development for industrial applications.
His expertise in the conceptual aspects of research and development provided a strong foundation for building a successful robotics business, as he understood precisely what customers were seeking.
Reger’s vision for Neura was to create “cognitive robots,” devices he humorously described as “smartphones with arms and legs.”
These robots act as real-life assistants, capable of both virtual and physical support.
Neura’s platform can be trained and operated in various languages and works both online and offline.
Moreover, the cobots are equipped with sensors and safety features that enable them to work alongside humans safely, adjusting their movements if necessary.
The startup’s primary bet is that integrating software and hardware into a comprehensive package is the key to success in the industry.
By designing all components, including AI-powered software and sensors, Neura can collaborate more effectively with its customers.
The company’s platform allows partners to develop specialized applications for specific tasks like welding, warehousing, gluing, sanding, and assembly.
Neura aims to expand its market presence further into the consumer segment.
While currently focusing on industrial applications, the company plans to use its knowledge and technology to develop the MiPA service robot platform, serving offices, care facilities, and homes.
Although Neura is not entirely vertically integrated, it maintains a strong commitment to working with third-party partners.
Its AI technology can be used on any robot through the API it provides.
This approach fosters an ecosystem that welcomes contributions from various industries.
It further allows for the development of specialized applications rapidly—an approach Neura refers to as “the Neuraverse.”
Investors have high expectations for Neura’s success.
The company operates at the intersection of AI and hardware development, with a particular advantage in Germany and Europe.
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Nikhil Srinivasan, managing partner at Lingotto, expressed confidence in Neura’s potential, highlighting the country’s strength in this domain.
As the demand for cognitive robots continues to grow, Neura Robotics appears well-positioned to lead in the development of innovative robotics solutions that enhance human collaboration across various industries.
