Robotics Startup Modbot Raises $4.0M Seed Round and Partners with Autodesk

Saroya Whatley | October 19, 2016

Robotics Startup Modbot Raises $4.0M Seed Round and Partners with Autodesk

SAN FRANCISCO — October 19th, 2016 — Modbot, the San Francisco based robotics startup, announced that the company has closed a $4.0 Million seed round led by Visionnaire Ventures. Participants in the round also include Eclipse, AME Cloud Ventures, Morado Ventures, and Autodesk Inc.

“Modbot is the first industrial quality modular robotics platform in the robotics industry,” said Keith Nilsson, co-founder and managing partner of Visionnaire Ventures. “Their mission to make robots massively accessible for all industries is exciting. We look forward to watching Modbot grow and achieve their vision.”

Eclipse Managing Partner, Lior Susan added, “The Modbot platform provides high quality high precision robotic solutions at a price significantly lower than what is currently available. By coupling these tools with integrated prototyping, virtual simulation, and collaborative software, Modbot is revolutionizing this industry by removing the traditional barriers of robotics.”

The company raised funds to expand the Modbot team and further the development of the first Modbot product, which will go into manufacturing the fall of 2017.  

“Modbot has grown quickly over the past year,” said Adam Ellison, co-founder of Modbot. “This seed round will help Modbot to expand our resources and reach our production goals.”

Modbot also announced today that the company has been collaborating with Autodesk to support research regarding the future of manufacturing with its modular technology.

“We’re seeing the emergence of a new era for robotics. Robotic systems are being democratized and becoming accessible to a rapidly growing audience, which is a key force shaping the future of making things,” said Maurice Conti, director of applied research and innovation at Autodesk. “Our collaboration with Modbot is aimed at advancing robotics research so we can equip manufacturers of all sizes to take advantage of technologies that were once available to only a few large companies. Modbot is a pioneer in this area and we’re already seeing great results from our work together.”

Autodesk has extended to Modbot the use of the Autodesk Workshop at Pier 9 in San Francisco, where its Applied Research Lab is housed, in order to conduct extended research. With both modular hardware and software solution, the Modbot platform delivers versatility and simplicity with the power and precision of high-end machinery.

About Modbot

Founded in 2013, Modbot is the first modular robotics platform. They delivers industrial quality robotics at affordable prices accessible to not just larger manufacturing firms but also educational institutions, and individual consumers. Using a system of reusable modules that snap together to create a variety of robotic configurations, the Modbot platform services many different applications. Once the robot is assembled, the software allows the user to not only program the robot, but also track data analytics, create a 3D environment and generate User Interfaces. For more information, please visit: http://www.modbot.com.

Autodesk, the Autodesk logo, and Fusion 360 are registered trademarks or trademarks of Autodesk, Inc., and/or its subsidiaries and/or affiliates in the USA and/or other countries.

Contact Information:

Saroya Whatley

Marketing & Operations Manager

saroya@modbot.com

www.modbot.com

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