Found in Robotics News & Content, with a score of 24.54
November 24, 2021
…called off its planned merger with special-purpose acquisition company (SPAC) Hennnessy Capital Investment Corp. V earlier this month, investors are still putting billions of dollars into development. Earlier this month, Kodiak Robotics raised $125 million in Series B funding. In September, tire maker Goodyear participated in Gatik's $85 million Series B round, and medium-duty driverless truck developer DeepRoute.ai closed $300 million in Series B funding. Inceptio raised $270 million in its Series B in August. In July, Aurora Innovation announced a $1 billion SPAC merger, and in June, Embark Trucks said it expected to raise $614 million in a SPAC…
Found in Robotics News & Content, with a score of 10.77
November 16, 2021
…and resolution of the M1 Edge.” In June, Quanergy entered into a definitive merger agreement with special-purpose acquisition company (SPAC) CITIC Capital Acquisition Corp. Upon closing of the transaction, the combined company will be named Quanergy Systems Inc. and is expected to be listed on the New York Stock Exchange under the ticker symbol “QNGY.” The transaction is expected to close in the fourth quarter of 2021, subject to satisfaction of customary closing conditions.
Found in Robotics News & Content, with a score of 13.00
November 10, 2021
…its U.S. operations and Plus calling off its planned SPAC merger. Kodiak Robotics Inc. today announced that it has raised $125 million in an “oversubscribed” Series B fundraising round for a total of $165 million raised to date. The Mountain View, Calif.-based company said it plans to use its latest investment to continue its aggressive growth plans. “Our Series B drives us into hyper-growth so we can double our team, our fleet, and continue to scale our business,” said Don Burnette, founder and CEO of Kodiak Robotics. “We have engineered our industry-leading technology, the Kodiak Driver, in half the time…
Found in Robotics News & Content, with a score of 32.61
November 09, 2021
…Separation anxiety due to foreign ownership Special-purpose acquisition company (SPAC) Hennessy Capital (HCIC V) raised $345 million in its initial public offering (IPO) in January 2021 and is listed on the Nasdaq Capital Market as “HCIC.” Nov. 8 was the “outside date” in the original merger agreement for canceling the deal with Plus. “HCIC was formed to merge with a company that provides sustainable technologies,” said Daniel J. Hennessy, chairman and CEO of HCIC V. “We believe in the potential for autonomous trucks to transform the trucking industry and in Plus’s ability to continue its global deployment of autonomous trucking…
Found in Robotics News & Content, with a score of 22.23
November 04, 2021
…TuSimple San Diego 1,081 IPO 4/7//2021 Aurora Pittsburgh 1,000 SPAC 7/15/2021 Plus Cupertino, Calif. 920 SPAC, IPO 6/23/2021 WeRide Guangzhou, China 620 Series B, C 6/23/2021 Embark San Francisco 614 SPAC 6/23/2021 Level 5 San Francisco 550 Acquisition 4/26/2021 The global market for autonomous vehicles will experience a compound annual growth rate (CAGR) of 14%, growing from $719.94 billion in 2020 to $1.3 trillion in 2025, according to Research and Markets. Facts and Factors forecast a 22% CAGR for the self-driving car market, from $23 billion in 2020 to $64.88 billion by 2026, showing the wide range of estimates. IMARC…
Found in Robotics News & Content, with a score of 7.37
October 30, 2021
…announced that it will merge with special-purpose acquisition company (SPAC) Reinvent Technology Partners Y and be publicly traded starting Nov. 4. Aurora marks milestones to commercialization Aurora said it is moving quickly toward the commercial launch of Aurora Horizon in late 2023, and the release of Aurora Driver Beta marks an important milestone. It demonstrates Aurora’s autonomous driving capabilities, confirms its driver-as-a-service business model, is the result of years of hard work, and is the foundation for future products, said the company. The beta of Aurora Driver follows the company's “Self-Driving 2.0” approach to investing in the creation of technologies…
Found in Robotics News & Content, with a score of 16.15
October 12, 2021
…recently agreed to a merger with special-purpose acquisition company (SPAC) Rotor Acquisition Corp. and began trading on the New York Stock Exchange. Sarcos Guardian DX is the defense variant of its XT The Guardian DX robot is the defense-specific variant of the Guardian XT. The highly dexterous mobile robot is itself is a variant of the award-winning Sarcos Guardian XO full-body, battery-powered industrial exoskeleton. The Guardian DX robot is a teleoperated, dual-armed robot designed to perform tasks with human-like dexterity while keeping the operator at a safe distance in challenging and hazardous conditions, including at height. Its modular design enables…
Found in Robotics News & Content, with a score of 8.85
October 08, 2021
…the military to scan the environment. AEye completed a SPAC merger and began trading on Nasdaq last month. iDAR can enable faster, more accurate, and more reliable perception, claimed AEye. iDAR includes deterministic artificial intelligence to deliver industry-leading performance in range, resolution, and speed, said the company. 4Sight M trained for robust perception Built on AEye’s iDAR platform, 4Sight M is an intelligent, adaptive, high-performance, and solid-state lidar that tailors its output to application-specific requirements, said the companies. Seoul Robotics has trained SENSR’s AI engine on the 4Sight M, whose data quality is maintained in daylight and at nighttime. Coupled…
Found in Robotics News & Content, with a score of 30.83
October 07, 2021
…Acquisitions Inc., a publicly traded special-purpose acquisition company or SPAC. The Tel Aviv, Israel-based company has developed 4D imaging radar chipsets for driver-assist systems and self-driving vehicles. It expects to begin trading its ordinary shares and warrants on Nasdaq tomorrow under the ticker symbols “ARBE” and “ARBEW,” respectively. “Becoming a publicly traded company extends our first-mover advantage and market-leading position as we continue to spearhead a radar revolution,” stated Kobi Marenko, CEO of Arbe. “We continue to see strong customer uptake in our chipset as they recognize the superior capabilities of our products and significant cost advantages, and we expect…
Found in Robotics News & Content, with a score of 17.52
October 01, 2021
…with D8 Holdings Corp., a special-purpose acqusition company or SPAC. Vicarious also began trading on the New York Stock Exchange under the ticker “RBOT” and rang the bell at NYSE on Wall Street. “It was a dream come true,” said Adam Sachs, co-founder and CEO of Vicarious Surgical. “NYSE does a good job of setting that up—there was a huge 60-by-90-ft. banner outside. We're excited because of what this enables. This is an important milestone, and it represents our ability to take the next steps in surgical robotics.” Founded in 2014, Vicarious Surgical takes a novel approach in combining human-like…
Found in Robotics News & Content, with a score of 22.54
September 28, 2021
…announced its intention to merge with special-purpose acquisition company (SPAC) Rotor in April. Rotor's stockholders approved the combination on Sept. 15, and the transaction closed on Sept. 24. Wolff spoke with Robotics 24/7 about why robotics startups are choosing SPAC deals, the target markets for Sarcos' products, and which system will find buyers first. Why did Sarcos choose to go with a SPAC rather than raise capital in another way? Wolff: A company in our shoes has three ways for raising capital. The first is a traditional private round, and we've done Series A, B, and C rounds over the…
Found in Robotics News & Content, with a score of 12.10
September 22, 2021
…with Reinvent Technology Partners Y, a special-purpose acquisition company (SPAC) and will be valued at $1 billion. “This new commercial pilot collaboration demonstrates the excellent progress that PACCAR and Aurora are making in our strategic alliance,” added Rich. FedEx loads autonomously hit the road Starting today, PACCAR’s trucks configured with the Aurora autonomous Driver will haul FedEx loads between Dallas and Houston, a 500-mile round trip, along the I-45 corridor. The trucks will operate autonomously, with a backup driver for additional safety. With annual revenue of $87 billion, FedEx said its 560,000 team members provide customers and businesses worldwide with…
