Rapid Robotics builds the Rapid Machine Operator (RMO), a manufacturing robot that can be deployed in a matter of hours without programming or robotics expertise. The system is offered under a RaaS (robotics as a service) model for $25,000 per year and can be reassigned to various tasks, making it attractive to companies that cannot afford dedicated systems. Rapid targets automotive and contract manufacturers facing production bottlenecks, and Bay Area-based TruePill is using its systems to fill and label prescription bottles. The company has benefited from heightened interest in robotics and automation during the pandemic as firms seek alternatives to labor-constrained processes. Financially, Rapid recently closed a $36.7M Series B that brings total funding to $54.2M and values the startup at $192.5M. This Series B is the company's third financing in less than a year, following a $12M Series A in April 2021 and an earlier seed round in 2020. Rapid Robotics is a Bay Area-based company that builds manufacturing robotics systems designed to be easy to use and get up and running quickly. Its tech is pre-programmed and was involved in the production of roughly 50 million parts over the past year across a variety of manufacturing verticals. The company emphasizes rapid deployment to help manufacturers automate tasks that cannot be performed remotely, a trend the article says was accelerated by the COVID-19 pandemic. CEO Jordan Kretchmer has framed the company’s mission as solving longstanding issues with human operators so U.S. manufacturers can remain competitive. Financially, Rapid completed a $12M Series A that brings total funding to $17.5M, following a seed round announced in November. Rapid Robotics develops pre-programmed manufacturing robots designed to require minimal setup and training, with on-board AI that continues to learn on the job. Its primary product, the Rapid Machine Operator, is a six-joint robotic arm inside a safety work cell with computer vision and an iPad for manual operation. The Machine Operator can be rented for around $25,000 per year and performs tasks such as part inspection, injection molding, pick-and-place and welding. The company pitches its offering as a way to close the "automation gap" and help return work to U.S. manufacturers by making simple automation accessible. Rapid has at least one named customer, Bay Area-based Westec Plastics. The startup raised new capital in a seed round to support its product and go-to-market efforts.

Total raised

$54M

Funding rounds

3

Latest round

Series B

Latest activity

Aug 2021