Total amount raised
$437 Millions
Latest funding date
6/1/2024
Location
Bright Machines has successfully raised $126 million over multiple funding rounds, with the latest being a Series C round. The company integrates flexible factory robots with intelligent software, production data, and machine learning to enhance manufacturing processes.
Keep reading to explore the intricacies of Bright Machines' fundraising journey and the investors backing this innovative platform.
What Is Bright Machines?
Bright Machines, founded in 2018 by Amar Hanspal and Lior Susan, is headquartered in San Francisco, California. The company specializes in integrating flexible factory robots with intelligent software, production data, and machine learning to automate manufacturing processes.
With a workforce of 501-1000 employees, Bright Machines aims to eliminate manual labor from electronic device production. Their software-defined manufacturing platform helps customers innovate faster to meet the growing demands of modern manufacturing.
By combining AI, data, and automation technologies, Bright Machines is redefining how products are designed, assembled, and disassembled, making manufacturing more efficient and adaptable.
How Much Funding Has Bright Machines Raised?
- Series A
- Amount Raised: $179M
- Date: October 23, 2018
- Lead Investors: Eclipse Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop its initial product offerings.
- Series A
- Amount Raised: Not disclosed
- Date: May 1, 2018
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage development and operations.
- Venture Round
- Amount Raised: Not disclosed
- Date: March 14, 2019
- Lead Investors: BMW i Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and market entry.
- Grant
- Amount Raised: Not disclosed
- Date: July 14, 2020
- Lead Investors: BloombergNEF
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund research and development initiatives.
- Series B
- Amount Raised: $100M
- Date: April 20, 2022
- Lead Investors: Eclipse Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand market reach.
- Debt Financing
- Amount Raised: $32M
- Date: October 30, 2022
- Lead Investors: Hercules Capital, SVB Financial Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operational expenses and growth initiatives.
- Debt Financing
- Amount Raised: $20M
- Date: June 25, 2024
- Lead Investors: JP Morgan Chase
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance financial flexibility and support strategic projects.
- Series C
- Amount Raised: $106M
- Date: June 25, 2024
- Lead Investors: BlackRock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop flexible factory robots and enhance engineering efforts.
Total amount raised: $437M. Current valuation: Not publicly disclosed.
Key Investors
- BlackRock
- Details: BlackRock is a global investment management corporation, known for its extensive portfolio and influence in the financial sector. It manages assets for clients worldwide, including governments, companies, and individuals.
- Investment Focus Areas: Technology, AI, manufacturing, financial services.
- Notable Investments: Various investments across multiple sectors, including technology and AI.
- NVIDIA
- Details: NVIDIA is a leading technology company renowned for its graphics processing units (GPUs) and AI technologies. It plays a significant role in advancing AI, gaming, and high-performance computing.
- Investment Focus Areas: AI, machine learning, advanced computing technologies.
- Notable Investments: Investments in AI startups, autonomous vehicles, and high-performance computing companies.
- Microsoft
- Details: Microsoft is a global technology giant that develops, manufactures, licenses, and supports a wide range of software products, services, and devices. It is a key player in cloud computing and enterprise solutions.
- Investment Focus Areas: Cloud computing, AI, enterprise software.
- Notable Investments: Investments in cloud services, AI, and enterprise software companies.
- Eclipse Ventures
- Details: Eclipse Ventures is a venture capital firm that focuses on early-stage technology companies. It supports startups that aim to transform industries through innovative hardware and software solutions.
- Investment Focus Areas: Early-stage technology companies, hardware, software.
- Notable Investments: Investments in various technology startups.
- Jabil
- Details: Jabil is a global manufacturing solutions provider that offers comprehensive electronics design, production, and product management services. It helps companies bring products to market efficiently.
- Investment Focus Areas: Manufacturing solutions, supply chain management, product development.
- Notable Investments: Investments in manufacturing and supply chain technologies.
What's Next for Bright Machines?
Bright Machines stands at the cusp of a transformative era in manufacturing, driven by the burgeoning demand for AI and automation. The company’s software-driven robotics solutions present vast opportunities across various industries, from AI server hardware to mobile phone manufacturing. With $126 million raised in its latest Series C round, the potential for growth is immense, bolstered by strategic partnerships with tech giants like NVIDIA and Microsoft.
Future fundraising seems promising, given the strong investor confidence and the escalating need for advanced manufacturing solutions. However, Bright Machines will need to navigate challenges such as scaling its technology, integrating new standards, and competing in a crowded market. The path ahead is filled with both opportunities and hurdles, but the company’s innovative approach positions it well for continued success.
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