Found in Robotics News & Content, with a score of 10.95
September 21, 2021
…Embark announced plans to merge with special-purpose acquisition company (SPAC) Northern Genesis Acquisition Corp. II, raising $614 million, and to list on the NASDAQ in the fourth quarter of 2021. Embark expands network Embark said it pioneered the transfer-point model in 2019 when it unveiled its first sites in Los Angeles and Phoenix. Since then, the company has conducted hundreds of hauls through these sites, refining required transfer-point capabilities and evaluating a range of service providers to fulfill those capabilities. Through its partnership with Ryder, Embark plans to establish a network of strategically located transfer points—where freight is moved from…
Found in Robotics News & Content, with a score of 12.43
August 26, 2021
…publicly listed that it will become publicly listed through a merger with Rotor Acquisition Corp., a special-purpose acquisition company (SPAC). The transaction is expected to close in the third quarter of 2021, at which point the combined company’s common stock is expected to trade on Nasdaq under the ticker symbol “STRC.”
Found in Robotics News & Content, with a score of 19.66
August 20, 2021
Memic Innovative Surgery Ltd. has entered into a definitive agreement for a business combination with MedTech Acquisition Corp., according to an announcement yesterday by investor Peregrine Ventures. Memic has been developing proprietary surgical robots. “Memic brings to the market a robotic technology that enables robotic surgery with an accuracy not known before at an affordable price,” stated Eyal Lifschitz, co-founder and managing partner of Peregrine Ventures. He is the vice chairman of Memic as well as the chairman of the business committee on Memic's board of directors. Founded in 2013, Memic is based in Tel Aviv, Israel, with a wholly…
Found in Robotics News & Content, with a score of 32.59
August 20, 2021
…Finance Acquisition Corp. III, a special-purpose acquisition company or SPAC sponsored by Cantor Fitzgerald & Co. The combined company will retain the AEye name and began trading on Nasdaq under the ticker symbol “LIDR” on Aug. 18. “AEye’s transition to the public markets marks a key milestone in our corporate journey, enabling us to accelerate adoption of our high-performance, intelligent lidar system and accelerate our mission to bring safe autonomy to the masses,” stated Blair LaCorte, CEO of AEye. “AEye is experiencing strong business momentum based on its partnership with Continental, one of the world’s largest automotive suppliers, as well…
Found in Robotics News & Content, with a score of 12.00
August 19, 2021
…publicly listed through a merger with special-purpose acquisition company (SPAC) Rotor Acquisition Corp. Robots can aid asset management Robotic technology is often overlooked as a critical digital transformation tool for the asset management process. Automating asset performance management, including inspections of facilities and equipment, can yield significant improvements, according to a November 2019 Technology Spotlight by IDC. These include 20% improvements in asset uptime, 15% to 20% reductions in maintenance labor costs, and 8% to 10% improvements in mechanical efficiencies. The Guardian S robot is uniquely capable, cost-effective, and portable, weighing approximately 17 lb. (7.7 kg.), claimed Sarcos. The robot…
Found in Robotics News & Content, with a score of 11.61
August 16, 2021
…platform for autonomous robots,” he said. Sarcos announced in April that it plans to merge with special-purpose acquisition company (SPAC) Rotor Acquisition Corp.
Found in Robotics News & Content, with a score of 11.35
August 09, 2021
…Rotor Acquisition Corp., a publicly-traded special purpose acquisition company (SPAC), as it commercializes its assistive systems. The transaction is expected to close in the third quarter of 2021, and the combined company’s common stock is expected to trade on Nasdaq under the ticker symbol “STRC.” T-Mobile 5G to enable remote viewing and teleoperation The Guardian XT robotic system is an upper-body variant of the award-winning Sarcos Guardian XO full-body, battery-powered industrial exoskeleton. It is platform-agnostic and can be mounted to a variety of mobile bases such as cherry pickers or basket trucks to access hard-to-reach or elevated areas. Sarcos and…
Found in Robotics News & Content, with a score of 18.62
August 06, 2021
…June, but only a few involving special-purpose acquisition companies (SPACs). There was also one notable failure: the shutdown and sale of Hayward, Calif.-based Abundant Robotics Inc., which was working on apple-harvesting robots. Speaking of mergers and mobile robots, even though no amount was announced, ABB Group's purchase of ASTI Mobile Robotics Group is significant, with the Zurich-based industrial automation leader adding the Spanish firm's mobile robots to its portfolio. Could more consolidation be coming? While industry analysts tout the potential of agricultural automation, it received only about $11 million last month. Compared with self-driving cars, it has a long way…
Found in Robotics News & Content, with a score of 12.34
August 03, 2021
…of view and data rate.” IoT applications for lidar; SPAC merger In addition to advancing OPA technology for automotive applications, Quanergy is offering its lidar for commercial IoT applications. The company recently partnered with shareholder Sensata Technologies on manufacturing. In addition, it cited the following recent IoT deployments: Supplying long-range, 3D lidar to PARIFEX for highway speed detection and enforcement in France Enabling vehicle-to-everything (V2X) smart city deployment in Korea Use by Puxiang BioEnergy to optimize recycling processes and reduce environmental impacts in China In June, Quanergy agreed to merge with CITIC Capital Acquisition Corp., and it plans to be…
Found in Robotics News & Content, with a score of 19.21
July 22, 2021
…combination with Gores Holdings VI, a special-purpose acquisition company (SPAC). The Sunnyvale, Calif.-based company said that it has received nearly $640 million in gross proceeds and that it will be listed as “MTTR” on Nasdaq starting tomorrow. “Becoming a publicly traded company is a strategic transaction for Matterport that strengthens our position as the market-leading spatial data company for the built world, and propels the global property market into the future,” stated RJ Pittman, CEO and chairman of the board of directors of the combined company. “We’re at the dawn of a new era for what’s possible when buildings become…
Found in Robotics News & Content, with a score of 9.82
July 18, 2021
…February 2021, Markforged announced that it entered into a definitive agreement to merge with “one,” a special-purpose acquisition company (SPAC) founded and led by technology industry veteran Kevin Hartz. The $361 million transaction is expected to close in the summer of 2021, subject to regulatory and stockholder approvals, and other customary closing conditions. The combined company will be named “Markforged Holding Co.” and be listed on the New York Stock Exhcange (NYSE) under the ticker symbol “MKFG.”
Found in Robotics News & Content, with a score of 19.08
July 16, 2021
…of Reinvent Technology Partners Y. The special-purpose acquisition company (SPAC) is led by Pincus, Michael Thompson, and Reid Hoffman. Investors and Aurora partners have committed $1 billion in a private investment in public equity (PIPE), and the proposed transaction represents an equity value of $11 billion for Aurora. Investors in the PIPE include Baillie Gifford, funds and accounts managed by Counterpoint Global (Morgan Stanley), funds and accounts advised by T. Rowe Price Associates, Inc., PRIMECAP Management Co., Reinvent Capital, XN, Fidelity Management and Research LLC, Canada Pension Plan Investment Board, Index Ventures, and Sequoia Capital. Uber, PACCAR, and Volvo Group…
