Micropsi Industries announces the successful closing of its $30 million Series B funding round. The company provides ready-to-use AI systems for controlling industrial robots to enable the automation of manufacturing processes that so far could not be automated.
By using cameras and sensors to react in real-time to dynamic conditions in a workspace, MIRAI-powered robots can be trained by humans to perform hand-eye-coordinated actions in industrial environments. Micropsi Industries’ MIRAI system is successfully deployed in assembly, material handling and quality control applications in a wide range of industries. Companies like Siemens Energy, ZF Group, and BSH are already using MIRAI in their production halls.
Metaplanet, VSquared, and Ahren Innovation Capital co-lead the funding round. Existing investors Project A Ventures and M Ventures also participated in the round.
Industrial robots can compensate for labor shortages and secure supply chains. The manufacturing skills gap in the US, for example, could result in 2.1 million unfilled jobs by 2030. But before factories can put robots into service, a lot of preparatory work is necessary. Specialists develop software code line by line to determine the individual movements of the machines. This approach is complex and expensive, and the robots are inflexible. Any variance in positions or materials can easily disrupt a robot’s performance.
Micropsi Industries' product, MIRAI, changes this. Workers are able to train the machines through demonstration. A human guides the robot arm through the work task. The MIRAI-controlled robot then learns and carries out the movements autonomously. In doing so, it is able to handle variance in the workspace at execution time. This makes robots more useful for more tasks, as it allows them to handle complexity and keeps them flexible even as conditions change.
"Our technology makes it easy to transfer dynamic motion know-how from humans to robots. We have not optimised the textbook approach for specific applications but took a radically different approach inspired by how humans coordinate motions”, says Ronnie Vuine, CEO and co-founder of Micropsi Industries. “MIRAI is proven and independent technology that’s working 24/7 in the factories of our customers. That is what convinced our investors: Here is a company that can already verifiably do what many current startups only promise to develop.”
MIRAI attaches to and augments industrial robots. Once fitted with MIRAI, a robot arm can perceive its workspace through cameras and continuously adjust its movements as it performs a task. MIRAI skills are not programs. They are collected intuitions on what movements should look like which MIRAI then replicates for robots.
The new funding will be used to expand operations in the US, ramp up sales efforts, and expand to more robot platforms.
Rauno Miljand, managing partner at Metaplanet, says: “Intelligent robot automation could tap into a currently locked productivity pool. The end-to-end learning solution built by Micropsi is one of the most advanced systems in the market and is well-positioned to unlock potential in a wide array of industrial settings. The ease of use and the fast learning cycle make it one of the most scalable platforms in the industry.”
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