ROBOTIC RESEARCH US$228 MILLION FUNDING ROUND TO SCALE AUTONOMOUS TECHNOLOGY COMMERCIALLY

The company's vehicle-agnostic autonomy kit, AutoDrive®, has already been integrated in a variety of vehicles including North America’s first autonomous heavy-duty transit bus, Class 8 trucks, and yard trucks. (Photo: Business Wire)

KUALA LUMPUR, Jan 10 (Bernama) -- Robotic Research, a global leader in autonomous mobility and robotics solutions, has announced a US$228 million funding round—the first outside capital the company has raised. (US$1 = RM4.20)

This funding will drive further innovation and expansion of Robotic Research’s commercial division, RR.AI, which is focused on delivering comprehensive autonomous driving solutions for commercial truck, bus, drayage and logistics vehicles.

According to a statement, investors in the Series A round include SoftBank Vision Fund 2, Enlightenment Capital, Crescent Cove Advisors, Henry Crown and Company, and Luminar Technologies Inc.

“This investment reflects our success in developing autonomous solutions for our U.S. government customers, and will provide the resources needed to meet our growing commercial customer demand and the expansion of our commercial efforts,” said Chief Executive Officer, Robotic Research, Alberto Lacaze.

“Our 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 operating across a variety of environments, weather conditions, and use cases.”

Robotic Research has successfully deployed autonomous and robotics solutions on roadways around the globe as well as in the industry’s harshest, unstructured environments.

The company’s vehicle-agnostic autonomy kit, AutoDrive®, has already been integrated in a variety of vehicles including North America’s first automated heavy-duty transit bus, Class 8 trucks, and yard trucks.

UBS Investment Bank acted as financial adviser and placement agent for Robotic Research. Cravath, Swaine & Moore LLP acted as legal adviser, and Covington & Burling LLP acted as special counsel to Robotic Research.

-- BERNAMA