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Robotics investments reached about $418 million in November 2023 as a result of 40 funding rounds. November’s $418 million was the lowest monthly funding amount through the first 11 months of 2023. With the November investments, robotics funding for the first 11 months of 2023 totals approximately $12.1 billion.

The two largest individual investment rounds for November 2023 went to providers of self-driving software and hardware. May Mobility, a provider of autonomous driving technology for commercial fleets, pulled in a $105 million Series D round, while Eacon Mining, a developer of autonomous haulage solutions for operations at surface mines, raised more than $55 million in Series C funding.

Other companies receiving sizeable funding rounds in November 2023 include GITAI, a developer of remote-controlled robots to support astronaut’s operations in space ($47.5 million), and China-based HCFA, a manufacturer and integrator of industrial automation and robotics products ($38 million).

As with previous months in 2023, companies located in China and the United States received the majority of robotics investments, $166 million and $149 million, respectively. Companies based in China and the U.S. also received the majority of the rounds (23 of 40 investments between them), with the companies in the remaining countries each receiving 3 or fewer investments. Two investments into the Japanese firms GITAI and Sensyn Robotics resulted in $63 million in funding.

All types of robotics investments were well represented in November 2023 (Figures 2 and 3). For both the total number of investments and the overall amount of funding, most rounds and investment amounts fell into the ‘Other’ category, a catchall phrase for investment types that fall outside the typical stages of funding that businesses go through before their initial public offering (ex. Seed, Series A, B, C, D, E and F funding). Michigan-based May Mobility’s outsized Series D investment ($105 million) accounted for approximately one-quarter of all November 2023 funding.

For a recap of the investments, see the table below or view a downloadable table here.

Company	Amount	Round	Country	Technology	Description
4AG Robotics	$12,787,976	Series A	Canada	Other Industrial	4AG has developed fully autonomous, vision-guided robots designed to operate in mushroom-growing racks and pick, trim, clean, and pack them
Aether Biomedical	$5,800,000	Series A	Poland	Prosthetic / Orthotic Systems	Aether Biomedical builds bionic limbs for upper limb amputees
Augmentus	$5,725,000	Series A	Singapore	Software	Augmentus offers a computer vision and AI robot motion planning solution.
Aurrigo International plc	$5,120,404	Other	UK	Outdoor Mobile Platforms, Autonomous Transportation Systems	Aurrigo builds autonomous vehicles for airport baggage cargo handling and passengers.
AVIC Creative Robotics	$14,093,638	Series B	China	Exoskeletons, Rehabilitation / Therapeutic Systems, Indoor Mobile Platforms	AVICspecializes in artificial intelligence and service robots, including exoskeletons.
Avitt Intelligence	Estimate	Seed	China	Collaborative Robots	Avitt Intelligence is a supplier of integrated collaborative robotics technologies for manufacturing.
BeeX	$2,000,000	Other	Singapore	Unmanned Underwater Vehicles, Operator Services - UUVs	BeeX offers hover-capable, autonomous underwater vehicles as a service.
Benewake	$13,867,509	Other	China	Sensors / Sensing Systems	Benewake develops LiDAR technologies for various applications.
Crover	$500,000	Other	UK	Indoor Mobile Platforms	Crover offers a robot for grain storage monitoring.
Eacon Mining	$55,470,039	Series C	China	Autonomous Transportation Systems	Eacon Mining is a provider of autonomous haulage solutions for operations at surface mines.
EAVISION	$13,808,340	Other	China	Drones	EAVISION develops drones for various applications.
EVAS Intelligence	$13,787,208	Seed	China	Microcontrollers / Microprocessors / SoC	EVAS Intelligence is an autonomous driving chip startup.
General Autonomy	$3,000,000	Seed	India	Collaborative Robots	General Autonomy is developing AI-powered robots for the manufacturing sector.
Ghost Autonomy	$5,000,000	Series E	USA	Software	Ghost provides software that enables attention-free driving.
GITAI	$47,566,412	Other	Japan	Articulated Robots, Outdoor Mobile Platforms	GITAI develops remote-controlled robots to support astronaut's operations in commercial space stations.
Gosion Robot	Estimate	Seed	China	Gantry Robots, Indoor Mobile Platforms	Guoxun Robot develops industrial safety inspection robots.
Grayscale AI	$109,118	Other	USA	Software, Sensors / Sensing Systems, Software	Grayscale AI provides autonomy solutions based on computer vision and neuromorphic computation for drones and other unmanned systems.
HCFA	$37,808,219	Other	China	Articulated Robots, Controllers	HCFA engages in the manufacturing and integration of industrial robotics.
Hummingdrone	Estimate	Other	Turkey	Drones	Hummingdrone provides autonomous drones and software for the solar industry.
IDeAOcean	Estimate	Seed	South Korea	Software	IDeAOcean is currently developing METHEUS, AI-based software aimed at automatically designing mechanisms for the operation of robots and mechanical devices.
Matic	$24,000,000	Series A	USA	Indoor Mobile Platforms	Matic provides AI-powered indoor robots for household cleaning.
May Mobility	$105,000,000	Series D	USA	Autonomous Transportation Systems, Sensors / Sensing Systems, Software	May Mobility provides autonomous driving technology for commercial fleets.
Micromoo Medical	Estimate	Seed	China	Surgical / Interventional Systems	Micromoo Medical manufactures robotic surgical systems for ophthalmic procedures.
Myactuator	$1,097,393	Other	China	Actuators / Motors / Servos	Myactuator develops robot actuators and control systems.
Nanjing Zhuling Technology	Estimate	Seed	China	Indoor Mobile Platforms	Zhuling Technology specializes in construction robotics systems and supporting hardware & technology solutions.
Pipedream Labs	$9,427,169	Other	USA	Outdoor Mobile Platforms	Pipedream Labs provides a delivery solution using mobile robots, and an underground tunnel and tube system.
Raise Robotics	Estimate	Seed	USA	Collaborative Robots, Indoor Mobile Platforms	Raise Robotics builds robotics that assist workers with challenging tasks on construction sites
Redwing Labs	Estimate	Seed	India	Drones, Operator Services	Redwing Labs manufactures autonomous drones and operating systems for delivery operations.
SAFELOG	Estimate	Pre-Seed	Germany	Indoor Mobile Platforms, Other Industrial	SAFELOG provides intralogistics solutions with a variety of mobile robot offerings and picking systems.
Samudra Oceans	$1,002,727	Pre-Seed	UK	Sensors / Sensing Systems, Software	Samudra Oceans offers robots for seaweed farming.
Sensyn Robotics	$14,942,512	Other	Japan	Drones, Operator Services, Data Acquisition / Processing / Management	Sensyn Robotics provides a drone-based industrial inspection service.
SliQue Robotics	Estimate	Seed	USA	Indoor Mobile Platforms	sliQue Robotics develops mobile robots and other technologies for various commercial sectors.
Sorting Robotics	$2,000,000	Other	USA	Collaborative Robots, Other Industrial	Sorting Robotics builds robotics and automation technology for cannabis and hemp manufacturers.
SUIND	$1,193,732	Seed	Switzerland	Drones, Software, Operator Services	Suind provides a drone-based solution for real-time crop monitoring and treatment.
Swarmbotics AI	Estimate	Pre-Seed	USA	Outdoor Mobile Platforms	Swarmbotics AI provides autonomous, swarming, mobile robots for industry and defense.
Teal Drones	$750,000	Other	USA	Drones, Software	Teal Drones produces unmanned aerial vehicle technology.
True Health	$14,092,843	Series B	China	Surgical / Interventional Systems	True Health is a surgical robotics company.
Unchained Robotics	$6,033,943	Seed	Germany	Collaborative Robots, Other Industrial	Unchained Robotics is a robotics reseller and provider of integrated automation platforms for small-to-medium manufacturers.
Virtuoso Surgical	$1,800,000	Other	USA	Surgical / Interventional Systems	Virtuoso Surgical develops endoscopic robotic tools for minimally invasive surgery.
XMACHINES	Estimate	Seed	India	Indoor Mobile Platforms, Outdoor Mobile Platforms	XMACHINES produces autonomous mobile robots for various indoor and outdoor applications.

Editor’s note
What defines robotics investments? The answer to this simple question is central in any attempt to quantify them with some degree of rigor. To make investment analyses consistent, repeatable, and valuable, it is critical to wring out as much subjectivity as possible during the evaluation process. This begins with a definition of terms and a description of assumptions.

Investors and investing
Investment should come from venture capital firms, corporate investment groups, angel investors, and other sources. Friends-and-family investments, government/non-governmental agency grants, and crowd-sourced funding are excluded.

Robotics and intelligent systems companies
Robotics companies must generate or expect to generate revenue from the production of robotics products (that sense, analyze, and act in the physical world), hardware or software subsystems and enabling technologies for robots, or services supporting robotics devices. For this analysis, autonomous vehicles (including technologies that support autonomous driving) and drones are considered robots, while 3D printers, CNC systems, and various types of “hard” automation are not.

Companies that are “robotic” in name only, or use the term “robot” to describe products and services that do not enable or support devices acting in the physical world, are excluded. For example, this includes “software robots” and robotic process automation. Many firms have multiple locations in different countries. Company locations given in the analysis are based on the publicly listed headquarters in legal documents, press releases, etc.

Verification
Funding information is collected from several public and private sources. These include press releases from corporations and investment groups, corporate briefings, market research firms, and association and industry publications. In addition, information comes from sessions at conferences and seminars, as well as during private interviews with industry representatives, investors, and others. Unverifiable investments are excluded and estimates are made where investment amounts are not provided or are unclear.