Covariant Raises $40 Million in Series B Funding to Bring AI Robotics to New Industries
Covariant, a leading AI Robotics company, announced that it has raised $40 million in Series B funding, bringing its total funding to $67 million. The round was led by Index Ventures, along with AI-focused Radical Ventures and participation from existing investor Amplify Partners and others. Covariant will use the funding to accelerate its partnerships, introduce AI Robotics to new industries, and grow its research, engineering and commercial teams.
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From food distribution to healthcare to e-commerce, the global supply chain is facing unprecedented pressure to deliver orders quickly, reliably and efficiently, while keeping workers safe. Automation is the key to meeting those challenges.
While repetitive and predictable tasks like the movement of goods have successfully been automated, complex and unpredictable tasks that require hands, such as picking, placing and unloading, have not. Traditional automation can’t handle the constant change and infinite variability of these tasks. Automating them requires advanced AI that can understand, learn and adapt.
Founded in 2017, Covariant is building the Covariant Brain, universal AI that enables robots to see, reason and act autonomously in the real world. Covariant robots learn general abilities such as robust 3D perception, physical affordances of objects, few-shot learning and real-time motion planning which gives them the intelligence to learn how to manipulate new objects they’ve never seen before in environments where they’ve never operated.
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