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Mind Robotics Raises $400 Million at $3.4 Billion Valuation
Mind Robotics, the startup founded by Rivian CEO RJ Scaringe, has raised over $1 billion total for its AI-powered industrial robot project. The latest round secured $400 million from investors including Kleiner Perkins, Salesforce Ventures and Incharge Capital. The Wall Street Journal reported the new funding values the company at $3.4 billion.
May 14, 9:36 AM·1m read2 sources
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Mind Robotics has raised more than $1 billion in total funding for its project to develop AI-powered industrial robots. The company, founded by Rivian CEO RJ Scaringe, reached a valuation of $3.4 billion after completing its latest fundraising round.
The round brought in $400 million and was led by Kleiner Perkins. It also included participation from Salesforce Ventures and Incharge Capital, a Volkswagen-affiliated venture-capital firm, according to The Wall Street Journal.
The latest investment brings the startup's cumulative funding above the $1 billion mark. The company is developing industrial robots that incorporate artificial intelligence capabilities for use in manufacturing and other sectors. Mind Robotics operates separately from Rivian, the electric vehicle manufacturer that Scaringe continues to lead.
The funding round reflects continued investor interest in robotics and artificial intelligence technologies. The company has not released details on specific uses for the new capital or timelines for product development. Further information on its technology and commercial plans has not been disclosed in the reported funding announcement.
