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Los Angeles-based GrayMatter, a startup addressing some of the hardest problems in manufacturing with AI-powered robots, today announced it has raised $45 million in a series B round of funding. The investment takes the total capital raised by the company to $70 million and has been led by Wellington Managemen with participation from multiple new and existing investors.
While robotic automation has been around for a long time, with companies like Apple using it in different functions of the assembly line, GrayMatter is pioneering what it describes as “physics-informed AI” — a technology that enables robots to self-program and handle high-mix, high-variability manufacturing environments. This is essentially the heart of the company, which has seen significant growth since its launch in 2020.
“There are so many parts, variations, and variabilities that a traditional robot cannot handle, so we’re bridging the gap with our technology for companies facing a minimum of two-year production backlogs,” Ariyan Kabir, co-founder and CEO of the company, told VentureBeat.
GrayMatter solving high-mix, high-variability manufacturing problems
The American manufacturing industry is worth $2.5 trillion, but companies are struggling with massive backlogs due to skilled worker shortages. There are as many as 3.8 million unfilled jobs across departments, keeping teams from meeting their delivery deadlines. Not to mention, in many cases, when there are enough w …
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Don’t miss OpenAI, Chevron, Nvidia, Kaiser Permanente, and Capital One leaders only at VentureBeat Transform 2024. Gain essential insights about GenAI and expand your network at this exclusive three day event. Learn More
Los Angeles-based GrayMatter, a startup addressing some of the hardest problems in manufacturing with AI-powered robots, today announced it has raised $45 million in a series B round of funding. The investment takes the total capital raised by the company to $70 million and has been led by Wellington Managemen with participation from multiple new and existing investors.
While robotic automation has been around for a long time, with companies like Apple using it in different functions of the assembly line, GrayMatter is pioneering what it describes as “physics-informed AI” — a technology that enables robots to self-program and handle high-mix, high-variability manufacturing environments. This is essentially the heart of the company, which has seen significant growth since its launch in 2020.
“There are so many parts, variations, and variabilities that a traditional robot cannot handle, so we’re bridging the gap with our technology for companies facing a minimum of two-year production backlogs,” Ariyan Kabir, co-founder and CEO of the company, told VentureBeat.
GrayMatter solving high-mix, high-variability manufacturing problems
The American manufacturing industry is worth $2.5 trillion, but companies are struggling with massive backlogs due to skilled worker shortages. There are as many as 3.8 million unfilled jobs across departments, keeping teams from meeting their delivery deadlines. Not to mention, in many cases, when there are enough w …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]