Micropsi Raises $30M Series B Funding to Scale Industrial Automation With Human Motion Trained Robots

• Micropsi Industries secures a $30M Series B for its deep tech AI software for
  controlling and training industrial robots.
• Micropsi Industries’ MIRAI robot control system enables
  hand-eye-coordinated actions for automation of tasks that improve
  productivity in industrial environments
• The Series B funding is co-led by Metaplanet, VSquared and Ahren
  Innovation Capital as Micropsi is ready to scale in the US and Europe.

Berlin, 11 February 2022. Micropsi Industries announces the successful closing of
its $30M Series B funding round. The company provides ready-to-use AI systems
for controlling industrial robots to enable the automation of manufacturing
processes that so far could not be automated.

By using cameras and sensors to react in real-time to dynamic conditions in a
workspace, Micropsi-powered robots can be trained by humans to perform
hand-eye-coordinated actions in industrial environments. MIRAI is successfully
deployed in assembly, material handling and quality control applications in a wide
range of industries. Companies like Siemens Energy, ZF Group, one of the largest
automotive suppliers in the world, and BSH, the largest manufacturer of home
appliances in Europe, are already using MIRAI in their production halls.

New investors Metaplanet, VSquared and Ahren Innovation Capital co-led the
funding round. Existing investors Project A Ventures and M Ventures also
participated in the round.

Industrial robots can compensate for labour shortages and secure supply chains.
The manufacturing skills gap in the U.S for example could result in 2.1 million
unfilled jobs by 2030. But before factories can put robots into service, a lot of
preparatory work is necessary: specialists develop software code line by line to
trigger the individual movements of the machines. This is complex, expensive,
and makes robots inflexible, as variance in positions or materials throw the robots
off.

Micropsi’s product MIRAI changes this: Using artificial intelligence, workers are
able to train the machines through demonstration. A human guides the robot
arm through the work task, which then learns and carries out the movements
autonomously. In doing so, it is able to handle variance and changes in the
environment and the robot’s target at execution time. This expands the
commercial potential of industrial robots, as it allows them to handle complexity
and keeps them flexible even as conditions change.

“Our technology makes it easy to transfer dynamic motion know-how from
humans to robots. We have not optimized the textbook approach for specific
applications but took a radically different approach inspired by how humans
coordinate motions”, says Ronnie Vuine, CEO and co-founder of Micropsi. “MIRAI
is a proven and independent technology that’s working 24/7 in the factories of our
customers. That is what convinced our investors: Here is a company that can
already verifiably do what many current startups only promise to develop.”

MIRAI augments industrial robots. Once configured with MIRAI, a robot arm can
perceive its workspace through cameras and continuously adjust its movements
as it performs a task. MIRAI skills are not programs, they are collected intuitions of
human movement which MIRAI then transferred in an intelligent way to robots.

The new funding is going to be used to expand operations in the US, ramp up
sales efforts and expand to more robot platforms. Micropsi Industries has recently
hired robotics expert Prof. Dominik Bösl as managing director to be in charge of
the company’s ambitious technology roadmap. Prof. Bösl previously held
positions at Festo, Kuka, and Microsoft.

Rauno Miljand, managing partner at Metaplanet, says: “Intelligent robot
automation could tap into a currently locked productivity pool. The
end-to-end learning solution built by Micropsi is one of the most advanced
systems in the market and is well-positioned to unlock potential in a wide
array of industrial settings. The ease of use and the fast learning cycle make
it one of the most scalable platforms in the industry.”

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Contact: contact@micropsi-industries.com
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About Micropsi Industries
Micropsi Industries is a VC-backed robotics software company with offices in Berlin,
Germany (R&D) and New York City. Founded in 2014, the company is at the forefront of
innovation in robotic automation for manufacturing, with a particular emphasis on
assembly tasks. For more information, go to micropsi-industries.com.

About Ahren Innovation Capital
Ahren Innovation Capital is an investment institution that supports transformational
companies at the cutting edge of deep science and deep tech. A group of highly diverse,
creative and original thinkers leading their domains, Ahren Innovation Capital believes in
taking considered risk that will deliver superior rewards – capturing a generational
opportunity to provide smart capital to deep technology. With a philosophy espousing the
importance of relationships and trust, Ahren Innovation Capital provides long-term capital
and support to exceptional founders and teams, empowering them to achieve the
unimaginable.

About Metaplanet Holdings
Metaplanet is an early-stage investment firm making long-term bets on contrarians and
leveraging the knowledge and network across sectors. We back mission-driven founders
working on positively disruptive deep technologies.

About Vsquared Ventures
Based in Europe’s deep tech hub Munich, Vsquared Ventures backs ambitious founders
and startups that tackle major challenges by engineering the seemingly impossible.
Vsquared Ventures identifies and funds companies with the potential to become global
leaders in future markets created by technological breakthroughs. Portfolio startups
include companies such as Isar Aerospace, IQM Quantum Computing, Morpheus Space or
Zama.ai

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