Massachusetts-based robotics firm RightHand that works on providing end-to-end solutions to e-commerce companies through their pick and place products has announced that it has secured a $23 million in Series B financing. The fresh round which was led by Menlo Ventures takes the total amount raised by the company to $34 million.
Google Ventures along with other existing backers that include Playground Global, Dream Incubator and Matrix Partners also participated in the round. The firm had previously raised $8 million Series A round last year. The company will use the fresh to grow the technical and business team. It also plans to develop products for various other industries like pharmaceuticals, groceries, and cosmetics using fresh funds.
Kiva Systems which had infused capital of $775 million in 2012, their former CEO Mick Mountz is joining the board of directors. Notably, Kiva Systems which is now Amazon Robotics as the e-commerce giant acquired the firm later in 2012 themselves are building products which can help in pick and place.
Mountz talking about the RightHand's position right now said, "RightHand is picking up where we left off. Customers saw products coming directly to operators for picking and packing and would ask: 'Why don't you also automate this step with a robotic arm and gripper?' But that was a difficult problem that we knew would require years of research and technological breakthroughs."
At the moment, the company products can manage to pick items of about 2 kilograms but one of the company spokesperson revealed that they are working on the strengths of their products so that they can pick heavier items like laundry detergent or gallon milk jugs.
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