CLARKSBURG, Maryland – (COMMERCIAL THREAD) – Robotic Research, a global leader in autonomous mobility and robotics solutions, today announced a funding round of $ 228 million, the first outside capital raised by the company. This funding will drive the innovation and expansion of Robotic Research’s business division, RR.AI, which focuses on providing complete autonomous driving solutions for commercial trucks, buses, dumpers and logistics vehicles. Series A investors include SoftBank Vision Fund 2, Enlightenment Capital, Crescent Cove Advisors, Henry Crown and Company and Luminar Technologies, Inc.
âThis investment reflects our success in developing stand-alone solutions for our US government customers and will provide the resources necessary to meet the growing demand from our business customers and the expansion of our business efforts,â said Alberto Lacaze, CEO from Robotic Research. âOur long history and experience has enabled us to develop a proven solution that is not only rugged, safe and reliable, but also versatile and ideal for operation in a variety of environments, weather conditions and use cases. ”
Robotic Research has successfully deployed autonomous and robotic solutions on roads around the world as well as in the industry’s most challenging and unstructured environments. The company’s vehicle agnostic range kit, AutoDriveÂ®, has already been incorporated into a variety of vehicles, including North America’s first automated heavy-duty transit bus, Class 8 trucks, and yard trucks. Automatic drivingÂ® can be used on-road, off-road or in the yard, making it uniquely suited to provide a 360 Â° autonomous driving solution that covers a variety of complex Operational Design Areas (ODDs).
âWe believe that autonomous vehicle technology has the potential to reshape the way goods and people are moved,â said Akshay Naheta, senior vice president of SoftBank Group Corp and former managing partner of SoftBank Investment Advisers. âRobotic Research has a history of operating in the commercial sector and has built a differentiated empowerment solution by focusing on tangible and income-generating opportunities. We are delighted to be a financial partner and to provide the necessary resources to accelerate the commercialization of Robotic Research solutions.
This is the first strategic equity investment to date by Luminar, a global leader in automotive-grade lidar hardware and software technology. Robotic Research is working alongside Luminar on strategic opportunities to advance autonomy and has selected Luminar as their long-range lidar supplier.
UBS Investment Bank acted as financial advisor and placement agent for Robotic Research. Cravath, Swaine & Moore LLP acted as legal advisor and Covington & Burling LLP acted as special advisor to Robotic Research.
RR.AI is the business arm of Robotic Research, a global technology company that has provided autonomous mobility and robotics solutions to the defense industry for two decades. RR.AI’s Vehicle Independent, Full Battery Range Kit (AutoDriveÂ®) is a proven autonomous driving system for on-road and off-road environments and is trusted by leading industry OEM partners. It is uniquely suited to provide a 360 Â° end-to-end autonomous driving solution for commercial transportation that spans complex Operational Design Areas (ODDs). To learn more about RR.AI, visit www.rr.ai.