Dexterity, Inc., a leading developer of industrial robots powered by artificial intelligence, has raised $95 million in a new funding round.
The investment was led by prominent investors, including Lightspeed Venture Partners and Sumitomo Corp., bringing the company’s post-money valuation to $1.65 billion, up from $1.4 billion in 2021.
Founded by Samir Menon, Dexterity specializes in creating robots with human-like capabilities to perform repetitive tasks in warehouses and factories.
The company uses hundreds of specialized AI models, each designed for specific tasks. Its client roster includes major companies like FedEx and UPS.
Dexterity’s robots operate using a software system called Arbiter, which coordinates AI models and prevents errors in unfamiliar situations. The company is also developing a new industrial robot named Mech, featuring two robotic arms and a mobile base for navigating industrial facilities.
Mech can carry loads of up to 130 pounds and has an arm span exceeding 16 feet, making it ideal for complex tasks such as loading and unloading trucks.
Designed for demanding environments, Mech can operate in temperatures ranging from 32 to 122 degrees Fahrenheit, humidity levels up to 90%, and altitudes of up to 5,000 feet. The robot boasts a mean time between failures of 10 years, with some components being easily replaceable in the field to expedite repairs.
Dexterity also offers a Digital Twin platform, allowing customers to simulate factories and fulfillment centers to measure the productivity impact of robotic systems. The company plans to use the new funding to enhance its technology and expand its workforce.
This investment comes amid significant growth in the industrial robotics sector, with companies like Figure AI Inc. seeking substantial funding to develop humanoid robots powered by AI.
