Robotic Vision Technologies secures $10.5m in funding
Robotic Vision Technologies (RVT), a machine vision software firm specialising in vision-guided robotics, has secured more than $10.5 million in funding to support its growth and market penetration in both the industrial and collaborative robot markets.
The investment comes from a combination of CEO and director funding, as well as investments from technology funds in Silicon Valley, Northern Virginia, Canada and Germany.
RVT’s 2D, 2.5D, and 3D vision guidance software platform allows robots to see, think and do in a range of industrial and non-industrial applications by enabling image recognition, machine vision and machine learning in robot guidance processes.
To date, RVT has used its funding to focus heavily on R&D. It is enhancing its software with faster computing power to produce increased precision and speed using off-the-shelf vision hardware components.
‘Our focus has been to perfect our quality and product line prior to any major marketing effort,’ said RVT founder and CEO Rick Weidinger. ‘With the success we have achieved in early implementations along with the patents we’ve secured for our innovation, now is the time to build our sales channels and lead the way in 3D vision guidance software.’
RVT and its partners were recently granted four new patents for several aspects of its technology, including visual sensing and processing software that improves the efficiency and safety of automated robotic systems. RVT has recently filed for 14 patents for a total portfolio of 20 vision guidance patents. Major automotive and other manufacturers are already using RVT’s technology in their factories, and more are applying upgraded RVT software into their production lines.
‘The reality of machine vision will be one of the most disruptive forces in all areas of manufacturing and transportation over the next decade,’ said Ric Edelman, RVT investor and founder of Edelman Financial Services, an investment management firm with $22 billion in assets under management. ‘RVT and its technology are poised to transform the way robots function in multiple markets. Their innovations in how machines perceive and respond to their environments are exactly what customers are looking for as they develop the next generation of equipment and end user products.’
Robotic Vision Technologies will be at booth 907 at the upcoming AIA Vision show in Boston, USA on 10-12 April.
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