Warehouse robotics startup Ultra raised a $12M seed and a $50M Series A, and expands its deal with Physical Intelligence to supply AI software for its robots (Jeff John Roberts/Fortune)
Finance editor Jeff John Roberts here. The explosive growth of the robotics industry in recent years is reflected in new technology feats …
Ultra, a warehouse robotics startup, has raised $62 million in funding. The company secured a $12 million seed round and a $50 million Series A, with the latter led by Framework Ventures and the former led by Y Combinator and Next View.
Ultra also announced an expanded deal with Physical Intelligence, a firm that supplies AI software for its robots. The Brooklyn-based company operates under a "robots as a service" model, leasing its devices to warehouses for a monthly fee.
Ultra's CEO and co-founder, Jon Miller Schwartz, noted that while humanoid robots receive significant attention, other forms of robots are having a greater impact in real-world applications. According to Fortune, humanoid robots are prone to falling over and their makers are struggling to deploy them in everyday situations.
Brief written by urgent.news from Techmeme, Fortune — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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