Red River Insights - The Robotics top10
Red River Insights - May 2024
Dear Friends of Red River West,
The world of robotics is no longer a distant future; it is an exciting reality reshaping industries as diverse as manufacturing, agriculture, and healthcare. From autonomous drones to intelligent robotic arms, robotics is driving a new wave of innovation and efficiency. This transformation is fueled by advancements in AI, machine learning, and sensor technologies, making robots more intelligent and adaptable than ever before. We even had a robot speak at our annual LP meeting!
A January tweet exchange between David Holz, founder of MidJourney, and Elon Musk hinted at a future with billions of robots on Earth and beyond: "we should be expecting a billion humanoid robots on earth in the 2040s" these numbers may seem exaggerated but they highlight the growing belief that the age of robots is truly here.
Humanoid robots may just be the tip of the iceberg, according to a report by Markets and Markets, the global robotics market is expected to surpass 100B$ by 2026. This surge is propelled by increasing automation demands, labor shortages, and the need for precision in various operations (hence our investment in software platform Robovision).
Leveraging RAMP, we are proud to present you a top10 of groundbreaking innovative startups in Robotics (reminder: this is an algorithmic scoring, not a random human judgment)
But first, we have some exciting investing news!
Leading Resilience Care's 25M$ round
We couldn't be more excited to announce our investment in Resilience, leading their 25M$ round with our friends at Picus Capital and joining Singular, Cathay Innovation and Seaya. Resilience is redefining how cancer patients manage their health and already deployed in over 90 medical centers. It's the first remote monitoring medical device in oncology to receive reimbursement from the French national social security system. We are proud to embark on this ambitious journey with Celine, Jonathan and their incredible team.
We are convinced by the potential of building a global health player and expanding internationally 🇪🇺 🇺🇸
RAMP's Robotics Tech Top10
By robotics, we mean the design, construction, and operation of physical robots, as well as the combination with advanced software and AI systems that enable these machines to perform tasks autonomously or semi-autonomously. This definition excludes software-based robotic process automation (RPA) and pure software solutions integrated as original equipment manufacturer (OEM) components. Instead, our focus is on tangible robotic technologies that improve efficiency, safety, and accuracy across numerous applications. This excludes our portfolio company Robovision but it's still included in the current trends as most incumbent players need help integrating AI into their solutions.
We hope this sparks interesting conversations. If you have any comments or would like to suggest a startup that should be included, feel free to reach out to us. Abel, Chloé, Joseph and Olivier will be delighted to discuss these trends and rankings.
(Ranking established on 24/05/2024)
This ranking illustrates the dynamic and vibrant nature of the Robotics ecosystem.
We've highlighted 6 key trends illustrated by these companies:
Transforming Hazardous Environments with Robotics
ANYbotics stands out by providing advanced robotic solutions for hazardous industrial environments such as oil, gas, power, and mining. Their autonomous robots enhance worker safety, increase productivity, and support sustainable operations in challenging and explosive environments. Recently, ANYbotics partnered with Cognite to launch an integrated robotics inspection solution that significantly improves safety and operational efficiency by enabling unmanned operations and predictive maintenance. This joint offering targets industries such as Oil & Gas, Power & Utilities, Chemicals, and Metals, showcasing how cutting-edge technology can drive operational excellence and data-driven decision-making.
Precision Agriculture through AI Integration
Ecorobotix exemplifies the integration of AI in agriculture with its plant-by-plant recognition and ultra-high precision crop-treatment solutions. The ARA system significantly reduces chemical usage in fields by up to 95%, dramatically lowering costs and increasing crop yields. This approach not only supports sustainable farming practices but also enhances food security by optimizing resource use and minimizing environmental impact. As the global agricultural market continues to seek ways to increase efficiency and sustainability, innovations like those from Ecorobotix play a crucial role.
Revolutionizing Laboratory Processes
Reshape Biotech is at the forefront of automating routine microbiological tasks, streamlining operations in laboratory settings. Their robots handle tasks such as filling plates and analyzing images, which traditionally require significant manual effort. By automating these processes, Reshape Biotech reduces human error and increases efficiency, allowing microbiologists to focus on more complex and innovative research activities. The global lab automation market, expected to reach 16B$ billion by 2035, is driven by the need for higher accuracy and efficiency in scientific research and diagnostics.
Enhancing Human-Robot Interaction
Enchanted Tools and Goodbytz are pioneers in creating robots that interact seamlessly with humans in social and professional environments. Enchanted Tools leverages AI and animation technologies to develop robotic characters capable of moving objects and engaging in social contexts. Goodbytz, on the other hand, focuses on AI-driven kitchen assistants that enable chefs to concentrate on creative processes. These advancements highlight the growing role of robots in enhancing daily life and professional workflows, demonstrating how AI and robotics can work synergistically to improve human productivity and creativity.
Advancing Medical and Industrial Robotics
LEM Surgical, Unchained Robotics, and RobCo showcase significant advancements in medical and industrial robotics. LEM Surgical develops next-generation robotic systems for spine surgery, aiming to improve precision and patient outcomes. Unchained Robotics offers a comprehensive platform for automating processes in SMEs, catering to industries such as metal, furniture, and electronics. RobCo’s modular robotics platform is designed to drive productivity and quality in industrial manufacturing, addressing the need for scalable and adaptable robotic solutions. These innovations are transforming healthcare and industrial operations, emphasizing precision, efficiency, and adaptability.
Expanding the Frontiers of Additive Manufacturing
Caracol is pushing the boundaries of additive manufacturing (AM) with its large-format AM platform, Heron AM. This technology integrates a robotized extrusion system and a dedicated software solution, enabling the production of large, complex, and critical parts. Caracol’s advancements in AM demonstrate the potential for significant improvements in manufacturing scalability, material usage, and design flexibility. By addressing the most demanding manufacturing needs, Caracol is setting new standards in the industry, showcasing the transformative power of additive manufacturing. The global AM market is projected to grow significantly, driven by innovations like Caracol's that enable more complex and scalable production capabilities.
More on RAMP's scoring method
The ranking of these startups is based on the estimated momentum of the company but the algorithm does not assess the quality or reliability of the products/solutions developed by these companies!
Find out about the algorithm behind this ranking and the way scores are calculated here: Cheat sheet on RAMP
In case you missed them, our latest top 10s are here:
- April 24
- March 24
- February 24
- January 24
- December 23
All the previous Top 10 are here.
The Exploration Company selected by ESA for cargo services
The European Space Agency has fired the starting gun on its attempt to create a European version of SpaceX, choosing two companies to develop commercial cargo services to the International Space Station.
The Exploration Company and Thales Alenia Space, beat several other candidates to win initial funding of 25M€ each to build a commercially credible service to low Earth orbit by 2028. A second round of funding will be decided at the next ESA ministerial meeting in 2025.
We're in the top 20 Data-driven VCs worldwide once again!
We are very proud to announce that Red River West has been ranked in the top 20 Data-driven VCs worldwide in Dr. Andre Retterath’s latest report on the state of data-driven VCs. This recognition is a testament to our team’s hard work and innovation in the venture capital industry.
Over the past 5 years, we have developed a powerful platform that serves as the foundation of most our operations at Red River West. Let's keep innovating in the VC industry!
Portfolio news
Worldia expands its horizons yet again to the UK! 🇬🇧After successfully conquering the French, German, and Spanish markets, Worldia has announced their official launch in the United Kingdom (One step closer to the US!)
iObeya has been awarded new Spring G2 badges! Latest achievements include Highest User Adoption and Easiest to Use.
Four of our portfolio companies have been listed in this year's prestigious #Next120 ranking of La French Tech! (Brut, Worldia, Collectionist and WeMaintain)
Robovision, has been nominated for 2 awards at the Data News Awards: Belgian Tech Scale-up Company of the Year & Artificial Intelligence Innovator of the Year.
Ada Heath was recognized as the “Best Reproductive Health Technology Solution” by MedTech Breakthrough as part of its 8th annual MedTech Breakthrough Awards Program!
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