Covariant secured $40 million in Series B Funding from Index Ventures
Covariant, a CA-based developer of Artificial Intelligent for robotics, has secured $40 million in Series B funding round, reports TechCrunch.
The round, which brought the total funding of the company secured to $67 million, was backed by Index Ventures and Radical Ventures with participation from Amplify Partners.
Covariant is founded by Peter Chen in the year 2017. It is building the Covariant Brain, a Universal AI, to give robots the ability to see, reason, and act on the world around them. In the year 2000, the company launched from stealth and later revealed partnerships with Knapp and ABB.
Executive Opinion
The report noted a statement from Pieter Abbeel, the president & chief scientist officer at Covariant, said, "When we founded Covariant, our goal was to make AI Robotics work autonomously in the real world. Having reached that milestone, we see a huge benefit in expanding our universal AI to new use cases, customer environments, and industries."Covariant's Latest Funding
Post funding, Mike Volpi, the Managing Partner at Index Ventures, will join as the Covariant, Board of Directors.The company, as of now, has plans to use the new funds to expand its research, commercial and engineering teams, add partnerships and launch AI robotics to new industries.
PC: Pablo, Pixabay
Never miss an update. Subscribe and follow to stay informed. Delivered Every Tuesday.
We hate spam too, we will never share your details.
Udit Agarwal
Opinions expressed by techsutram contributors are their own. More details
Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to Techsutram. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.
Weekly Newsletter
Never miss an update. Subscribe and follow to stay informed.
Delivered Every Tuesday.
Delivered Every Tuesday.
Thank you! You have successfully subscribed to our newsletter.
We hate spam too, we will never share your details.
No comments:
Post a Comment
Your valuable comments are welcome. (Moderated)