May 13 : Mind Robotics, a spinout from Rivian, was valued at $3.4 billion in a new funding round, up from the $2 billion valuation it secured during its Series A raise in March, according to a source familiar with the matter.The industrial robotics startup has raised $400 million in the Kleiner Perkins-led round, bringing its total funding to more than $1 billion in less than a year.Here are some details:• New investors in the round include Meritech Capital, Redpoint Ventures, SV Angel, Incharge Capital, A-Star Capital, and Garuda Ventures.
• Mind Robotics previously raised $115 million in a seed funding round late last year, followed by a $500 million Series A round in March.• Investor confidence in AI-powered automation for manufacturing has been growing, particularly as automakers and industrial companies race to modernize factory operations with robotics.• Mind Robotics develops foundation AI models, purpose-built robots, and deployment infrastructure designed for industrial manufacturing tasks.• Rivian's manufacturing facilities provide Mind Robotics with a live, high-volume production environment for training and deploying its robotics AI models.
