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Bright Machines Microfactories are made up of robotic work cells that may carry out a wide range of duties. | Source: Bright Machines
Bright Machines introduced that it introduced in $132 million in debt and Series B fairness funding. The new spherical brings the corporate’s whole funding to $330 million. Eclipse Ventures led the fairness portion of the funding, which totaled $100 million. Silicon Valley Bank and Hercules Capital led the debt portion of the funding, making up the remaining $32 million.
This is the corporate’s first funding spherical since its SPAC deal fell by means of in December 2021. In May 2021, Bright Machines introduced plans to go public by means of a merger with SCVX, a special-purpose acquisition firm. The firms agreed to terminate the deal round a month earlier than it was scheduled to undergo.
The firm’s flagship product is the Bright Machines Microfactory. The firm’s Microfactories are full, programmable meeting traces which might be powered by the Brightware Platform. The Microfactories are designed to permit customers to construct extra items at a decrease value.
The Microfactories are made up of robotics-based work cells designed to cut back flooring house. A Bright Machines work cell may embrace functions like meeting, welding, fastening, dishing out, labeling or inspecting. BrightMachines integrates a lot of totally different robotic arms within the work cells. Each work cell has a normal footprint, and this simplifies the design and format of any variety of manufacturing course of steps.
“We founded Bright Machines with a singular mission to enable our customers to transform the way they have historically approached product assembly. We are excited to partner with the industry in creating a more streamlined ‘design-to-make’ process in which every product can be manufactured closer to the end consumer. In today’s unpredictable, global environment, this mission is more important than ever,” Lior Susan, CEO and Co-Founder of Bright Machines, mentioned. “We believe our solutions provide an essential pathway for the industry’s transition to more local, resilient, and sustainable operations. I am proud of the positive impact we’ve made to date and excited for this next phase in our journey.”
Bright Machines plans to make use of the funding to speed up the corporate’s progress, together with increasing into high-demand business verticals and creating new software program and repair choices to enhance its current portfolio of merchandise. The firm additionally goals to increase the capabilities of its Microfactory, speed up the Brightwave software program roadmap, strengthen its associate community and develop its buyer base.
The firm plans on unveiling its latest integration hub in Guadalajara, Mexico later this yr and a buyer expertise middle in San Francisco in 2023.