Robotic Research, a leading developer of autonomous mobility and robotics solutions, today announced a $228-million funding round—the first outside capital the company has raised. This funding will drive further innovation and expansion of Robotic Research’s commercial division, RR.AI, which is focused on delivering comprehensive autonomous driving solutions for commercial truck, bus, drayage and logistics vehicles.
Investors in the Series A round include SoftBank Vision Fund 2, Enlightenment Capital, Crescent Cove Advisors, Henry Crown and Company, and Luminar Technologies, Inc.
Robotic Research has successfully deployed autonomous and robotics solutions on roadways around the globe as well as in the industry’s harshest, unstructured environments. The company’s vehicle-agnostic autonomy kit, AutoDrive, has already been integrated in a variety of vehicles including North America’s first automated heavy-duty transit bus, Class 8 trucks, and yard trucks.
AutoDrive can be used on-road, off-road, or in the yard, making it uniquely suited to provide a 360° autonomous driving solution that spans a variety of complex operational design domains (ODDs).
This is the first strategic equity investment to date by Luminar, a global leader in automotive-grade lidar hardware and software technology. Robotic Research is working alongside Luminar on strategic opportunities to advance autonomy and has selected Luminar as its long-range lidar provider.
UBS Investment Bank acted as financial advisor and placement agent for Robotic Research. Cravath, Swaine & Moore LLP acted as legal advisor, and Covington & Burling LLP acted as special counsel to Robotic Research.