NEURA Robotics, a German AI and robotics company, has raised €120 million in a Series B funding round, marking a significant step in its ambitions to lead the cognitive robotics sector. Founded in 2019, the company focuses on creating collaborative robots (cobots) designed to work alongside humans with advanced sensory capabilities, aiming to bridge gaps in industries such as manufacturing, logistics, and healthcare. The funding will support the development of NEURA’s innovative Neuraverse platform, which combines robotics and artificial intelligence to enable autonomous, predictive, and interactive functionalities. The company’s vision extends to positioning itself as a key player globally, competing with giants from the US and China.
What sets NEURA’s cobots apart?
NEURA Robotics’ cobots are equipped with sensory systems that allow them to see, hear, and perceive touch. One of its flagship products, MAiRA, is touted as the first cognitive robot capable of autonomous decision-making and safe interaction with humans. This integration of AI and robotics enables NEURA’s machines to act independently and adapt to their environments, setting them apart in a competitive market. These developments highlight the company’s focus on enhancing human-machine collaboration in various industrial and consumer applications.
How will the funding be utilized?
The newly raised capital will primarily fund research and development efforts, helping NEURA Robotics expand its product portfolio and accelerate the launch of innovative solutions. The company plans to scale its operations through the Neuraverse platform, which includes a robotics-focused operating system and a marketplace for robotic skills. This approach aims to create a comprehensive ecosystem for the cognitive robotics industry. Founder and CEO David Reger noted that this investment underscores investor confidence in the company’s long-term vision and technological expertise.
The Series B funding round was led by Lingotto Investment Management and included contributions from Volvo Cars Tech Fund, BlueCrest Capital Management, Vsquared Ventures, and others. Nikhil Srinivasan, Managing Partner of Lingotto Horizon, commented on NEURA’s potential:
“NEURA’s exceptional technological expertise and groundbreaking innovation are transforming both industrial and consumer robotics.”
He emphasized the company’s robust growth trajectory and billion-dollar order book as key indicators of its promising future.
Over the last year, NEURA Robotics has witnessed a significant increase in both its workforce and revenue, with the order book now valued at €1 billion. This follows prior funding rounds, including a $16 million investment in October 2023 and a $55 million round in July 2023. Compared to earlier announcements, the latest funding highlights NEURA’s ability to attract substantial support from both European and international investors, reinforcing its position in the global robotics landscape.
The cognitive robotics sector is perceived as having transformative potential, with applications spanning multiple industries. David Reger underscored NEURA’s pioneering role, stating:
“Cognitive robotics is expected to become bigger than the smartphone. I am proud that NEURA is the first one to ship a commercially viable cognitive robot and remains the only humanoid robotics company in Germany.”
The company’s emphasis on Europe’s robotics market positions it as a leader in advancing AI-driven automation within the region.
Cognitive robotics offers practical advantages for industries requiring precision, adaptability, and collaboration between humans and robots. NEURA’s focus on creating accessible ecosystems through platforms like Neuraverse could drive significant innovation. However, as global competition intensifies, the company’s ability to scale efficiently while maintaining product differentiation will determine its success. This funding highlights growing investor interest in the European robotics sector, which continues to attract attention amidst advancements in AI and robotics integration.
