Battery costs are falling again, robot stocks are still rising!
Silicon Valley Robotics
Supporting innovation and commercialization of robotics technologies - Robots&Startups at https://249x.substack.com
Robotics rides on the tail winds of 'Moore's Law' as in decreasing cost for performance. So does the Bitter Lesson of AI
Serve, Intuitive Surgical and iRobot are all having stock price surges. It helps if NVIDIA reveals a stake in your company, but some robotics stocks have always been a good return on investment (Intuitive). What a shame I sold my iRobot stock years ago!
Robotics is viable today because of the falling costs of everything, except possibly motor technology, and roboticists! Communication and computation technology were the first to drop, but mobile robots, including humanoids and any robot doing a full shift of work, have been dependent on the affordability of sufficient portable power. While battery costs started falling as the EV industry took hold, the recent pandemic and financial crisis, and global tensions have all contributed to a plateau from 2020 to 2022. But now that the figures are in for 2023, it’s good news for robotics. Let’s talk about the ‘Bitter Lesson’ in the next newsletter.
Robot Expo Opportunities through SVR
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by Michael Milford, Director of QUT Centre for Robotics, ARC Laureate Fellow, ATSE Fellow
And for the robotics fans who just want the robots without any of the distracting human backstory, here's the robot super cut from last week's Robotics: Science and Systems (hashtag#RSS2024 ) conference in Delft, the Netherlands. Features:
?? the University of Zurich 's automated high performance racing drones from Davide Scaramuzza and team - https://lnkd.in/dc-FDhwK
?? the Unitree Robotics humanoid and quadrupeds, including a gentle tumble from the humanoid on an upslope that the quadruped handled with ease, and some slow motion footage of the Unitree rehearsing to enter the RoboCup football competition by kicking the ball
?? the space rover prototypes from Delft University of Technology Lunar Zebro team - https://zebro.space/
?? the hashtag#autonomousvehicle and automated pedestrian / cyclists from the Delft University of Technology intelligent vehicles group Holger Caesar Julian Kooij - https://lnkd.in/dZKnvaWt
?? the shelf stacking and unstacking retail robots from the Delft University of Technology robotics team - partly reminiscent of the Amazon Robotics Challenge-winning Cartman robot from the Australian Centre for Robotic Vision
?? the "Astronaut" milking robots from Lely - according to their website, they currently have around 50,000 Astronaut milking robots in operation worldwide, milking around 2.5 million cows daily across 50 countries (see https://lnkd.in/d7m8KsVM ). These were just some of many robots seen at the farm visit conducted during RSS2024.
?? (not RSS-associated) someone's drone being flocked by irate seagulls Video on Linked In Music: Suno.AI
The Citation Cutout crippling early career researchers
by Michael Milford, Director of QUT Centre for Robotics, ARC Laureate Fellow, ATSE Fellow
Citation cutout occurs when you, in a relatively unknown lab, pioneer ground breaking new research. The field picks up on it, and some of the "big brandname" universities / groups publish a follow on paper. They, respectfully, (usually) cite your work. BUT, and this is a huge but, what often happens THEN is that from that point onwards, everyone cites their follow on work, and your initial paper is doomed to obscurity (and possibly your career ?? ).
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Robotics Invest
The Robotics Invest panel, “The Acquisition Landscape and Public Markets for Robotics Companies,” addressed the challenging exit landscape for robotics companies today and how to best prepare for a successful exit. There is a high quality pipeline of robotics companies in Series B to Series F+ that are poised for an exit when the market reopens. Moderator: - Aaron Pressman | Boston Globe Media Panelists: - Firdaus Pohowalla | Cascadia - Nabil Malouli | DHL Supply Chain - Justin Krauss | J.P. Morgan
Here are the key takeaways:
Exit Market Landscape: - Similar to the broader market, the IPO market for Robotics companies is stalled and M&A activity has been limited. - Many robotics companies that went public via SPAC initially launched at attractive prices but faced substantial post-IPO price erosion due to their inability to scale and meet revenue targets at a pace that justifies their initial public launch valuation. Symbotic, on the other hand, stands out as a notable exception, thriving post-IPO due to its successful scaling and revenue growth. - While we wait for the IPO and M&A markets to re-open, the key conversation is how robotics companies can better prepare themselves for a private or public exit. Preparing for a successful exit: - An early indicator for the possibility of a private exit depends heavily on the transition from the B to C round. Beyond the usual numerical analysis, what matters a lot is who you are adding to the cap table as a strategic investor and partner to scale. - Incorporating a RaaS model is desirable for sustained revenue creation and can be correlated with higher valuation in many cases if you're planning to scale to an exit. - The RaaS business model can lower barriers to adoption, simplify the customer decision making process, boost revenue confidence and accelerate growth. Choose your strategic customers and investors wisely: - Many, many deals get done where the acquirer is on the cap table already prior to exit - Many startups naturally aim for the big companies, big players. But it is often easier to collaborate with a customer / investor that is a mid market company, rather than a huge name player. The value lost by not getting the PR is made up in the successful development of the business and the relationship. - The vast majority of successful robotics startups today are solving one problem, a single use case(s) and doing it well. In this case a more likely acquirer could be 1) another player in the industry looking to expand their product portfolio and tech capabilities, or 2) customer with a heavy focus on a narrow market application or use case(s) - It is important to foster trust and compatibility in business and investor relationships, not just technical expertise, as you develop strategic partnerships and scale your business to attract acquirers.
Read More at Cybernetix Ventures
From Bee Partners
Read our most recent white paper authored by Ale & Tim:?The Generative AI Wave of Human-Machine Interaction.
Read more on Bee Partners at? www.beepartners.vc ?and as always, we invite you to share our?Get Funded page ?with Founders, or friends of Founders, who are seeking pre-seed deeptech funding in?Human-Machine Interaction ,?Machine-to-Machine Learning , or?Biological Machines .
Nearshoring News
from Reshoring July
Foxconn, manufacturer of AI servers used by Amazon, Google, Microsoft, and Nvidia, plans to move its manufacturing base out of China and into Mexico.?
The United States bought more goods from Mexico than China in 2023, evidence of how much global trade patterns have shifted. See Harry’s article in Industry Week :? Did the U.S. Really Import More Goods from Mexico than China? When you adjust for lower Chinese prices and Chinese shipments through Mexico, we are still more dependent on China.?
Robot News
Torobo humanoid robot accurately hammers nail, shows potential for industrial use - Interesting Engineering
Standard Bots Secures $63M in Funding to Propel American Manufacturing Forward with AI-Driven Robotics - Globe Newswire
Lodestar’s robotics arm will be an orbital ‘first responder’ for satellites in need - TechCrunch
A&K Robotics to test Cruz self-driving mobility at Vancouver airport - The Robot Report
Bobcat Plans Merger with Doosan Robotics to Advance Autonomous Machines - Equipment World
This clever new warehouse robot could kill the forklift - FastCompany
Former Tesla humanoid head launches a robotics startup - TechCrunch
Mytra Unveils Breakthrough Robotics and AI to Transform Warehouses and Boost Economic Productivity - PRNewswire
Ex-Tesla Engineers Launch Robotics Startup to Automate Warehouse Logistics - IOT World Today
AI-Powered Delivery Robots Aim to Slash Costs - PYMNTS
Advanced robotics startup NAVIGANTIS secures $12M to pioneer a new chapter for stroke care - Refresh Miami
Ribbon cut on robotics nonprofit in New Bedford - Providence Now
Richtech Robotics Celebrates Completion of Installation of ADAM at Ghost Kitchens inside Dawsonville, GA Walmart - Globe Newswire
PepsiCo is using robotics and AI-powered crop planning to transform its supply chain - Business Insider
Researchers are training home robots in simulations based on iPhone scans - TechCrunch
Elephant Robotics’ Mercury Humanoid Robot Empowers Embodied AI Research - IEEE Spectrum
This On-Road Delivery Robot Carries 100 Pounds At 20 MPH - Forbes
Department of Homeland Security to use robot dogs in raids - Fortune
Monarch Tractor CEO says $133M raise will help it excape ‘quite a challenging time’ - TechCrunch
Disney Creates Robot That Easily Traverses Rough Terrain with Expressive Motions - TechTimes
AI Cooking Robot Developer Secures RMB200M Further Investment from JD - AAStocks
Google says Gemini AI is making its robots smarter - The Verge
AI-generated data causes LLM model collapse: Researchers - The Stack
also in Nature (paper) and Nature (summary)
Working Smarter: How Manufacturers Are Using Artificial Intelligence - NAM, National Association of Manufacturers (whitepaper)
Elon Musk’s Tesla robots won’t be running amok anytime soon: Former Meta exec - AOL
Elon Musk Pushes Back Timeline for Optimus Robots - Gizmodo
Alphabet has committed $5B to Waymo - Co-CEO Tekedra Mawakana
AI MAchine Vision in the Automotive Industry - Zebra (report)
Kodiak and Atlas: Pioneering Driverless Logistics - Kodiak
Robot Events
FIRA is back! October 22-24 Woodland CA
With AG ROBOTICS DISCOVERY TOUR Oct 17-21
?? hashtag#FIRAUSA24 : Unveiling the Future of AgTech! ?????Join us for an extraordinary 8-day journey into autonomous farming and robotics! Mark your calendars ?? ???California Ag Robotics Discovery Tour: October 17-21 ?????FIRA USA event: October 22-24 ?? Highlights: ? Unparalleled networking for farmers, manufacturers, and scientists ? In-field demos of cutting-edge autonomous solutions ? Business meetings and research discussions ? Focus on specialty crops: vegetables, vines, fruit, and nut trees ?? California Ag Robotics Discovery Tour: ? 5-day immersive experience ? Visit innovative farms across Sacramento, Davis, Central Valley, and Salinas ? Limited to 40 international AgTech leaders and country delegations ? All-inclusive package with accommodation, catering, and networking ??? Tour Program: ? Day 1 (10/17): Salinas - Vegetables, Lettuce, Berries ?? ? Day 2 (10/18): Merced area - Tomatoes, Melons, Cotton, Almonds, Citrus ?? ? Day 3 (10/19): Fresno area - Stone fruit, Grapes, Pistachios, Almonds ?? ? Day 4 (10/20): Optional excursion ?? ? Day 5 (10/21): Sacramento Valley + FIRA USA VIP Cocktail ?? Don't miss this opportunity to shape the future of agriculture! ?? Register now: https://lnkd.in/eHJDFK3F ?? Reserved for international delegations, registration required ?Registration deadline: August 12
And some more robotics conferences:
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