Standard Bots
Overview
Standard Bots is a leading robotics company specializing in the development and production of AI-powered robotic arms designed to automate a variety of industrial tasks. Founded in 2011 by Evan Beard and David Golden, the company is headquartered in Glen Cove, New York. Standard Bots has raised a substantial $63 million in its latest Series B funding round as of July 2024. The company aims to democratize access to advanced robotics, making automation affordable and user-friendly through its flagship product, the RO1 robotic arm.
Recent Developments
- July 2024: Standard Bots raised $63 million in a Series B funding round led by General Catalyst, with participation from Amazon Industrial Innovation Fund and Samsung Next. The funds are intended to expand the engineering team, develop next-generation robots, enhance proprietary platforms, and open a new manufacturing site to produce all components domestically (Sourcing Journal, SiliconANGLE).
- FabTech 2024: Standard Bots showcased its technological advancements in automation and robotics in Orlando, emphasizing the ease and efficiency with which its robotic arms can be integrated into various industrial processes (LinkedIn).
- June 2024: The company's CEO Evan Beard discussed how automation can revitalize American manufacturing, addressing workforce challenges and enhancing national security and environmental sustainability by producing more domestically (LinkedIn).
Company Information
| Attribute | Information |
|---|---|
| Founding Date | January 3, 2016 |
| Headquarters | Glen Cove, New York, USA |
| Founders | Evan Beard, David Golden |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | General Catalyst, Amazon, Samsung |
| Industry | Robotics, Automation |
| Number of Employees | 38 |
Early History
Standard Bots was founded in 2011 in New York City with the vision of making robotics accessible to businesses of all sizes. The company was born out of a need to simplify the complex and costly nature of traditional robotics. Initially, they focused on developing robotic arms that could easily be programmed through a no-code interface, thus lowering the barrier for entry into advanced automation for small to medium enterprises. The founders' prior experiences in technology startups and a passion for robotics drove them to create a platform that could revolutionize manufacturing and other sectors with high labor demands.
Company Profile and Achievements
Standard Bots has carved a niche in the industrial sector by offering a full-stack approach to robotics. Its flagship product, the RO1, is a six-axis collaborative robot that enhances workplace safety and productivity by handling repetitive and dangerous tasks. Key milestones include:
- 2011: Company founded, focusing on simplifying robotics.
- 2016: Launched the first prototype of the RO1.
- 2022: Opened a new manufacturing facility in New York to increase production capacity.
- 2024: Raised $63 million to further AI developments and expand product lines to include the RO2 and RO3-Max models, emphasizing versatility and payload capacity (Pitchbook, The Robot Report).
Current Operations and Market Position
Standard Bots continues to innovate in the field of robotics, focusing on AI integration to enable real-time adaptability and learning from human demonstrations. The company's robots are used not only in manufacturing but also in logistics, food preparation, and other sectors requiring precise automation. With an emphasis on reducing costs and improving operational efficiency, Standard Bots holds a competitive edge by being one of the few companies to design and assemble its products entirely in the USA. Their strategic initiatives include expanding the product line and improving existing models' capabilities to cater to more complex industrial applications.
Conclusion
Standard Bots is a trailblazer in making advanced robotics technology accessible and easy to use, significantly impacting industries reliant on traditional manual labor. With robust funding and a strategic focus on innovation and domestic production, the company is poised to further influence the future of automation. As they continue to push the boundaries of what is possible with AI and robotics, Standard Bots is well-positioned to remain a leader in transforming how work is conducted in various sectors globally.