Right from healthcare, customer service, security patrols, and education & entertainment, startups are offering robotics-enabled solutions ranging from last-mile delivery to industrial automation. Against this backdrop, the Unicorn Prediction Model of GlobalData, a leading data and analytics company, has released a list of 50 robotics startups that have the potential to become unicorns (valuation > US$1bn).
By Ashwini Balan, Eastern Trade Media
“Unicorn” is a term used in the venture capital industry to describe a privately held startup company with a value of over $1 billion. The term was first popularized by venture capitalist Aileen Lee, founder of Cowboy Ventures, a seed-stage venture capital fund based in Palo Alto, California.
Apoorva Bajaj, Practice Head of Financial Markets at GlobalData, says: “Advances in AI have enabled the development of robots, allowing them to become highly complex products rather than being the stand-alone, fixed-function machines they used to be. With the expansion of the roles that robots can perform, deep-pocketed venture capital (VC) firms are attracted to invest in the high-growth opportunity.”
GlobalData’s recent report, Future Robotics Unicorns – 09 September 2021, in Q2 2021, Asia-Pacific accounted for over 44% of VC deal volume valued at a total of US$ 2.7bn, followed by North America (primarily the US.) accounting for 31% of the total deal volume. Some of the robotics startups in GlobalData’s list of potential unicorns include Gecko Robotics, Covariant, Superpedestrian, and Sphero.
Gecko Robotics builds and operates robots to automate infrastructure inspections across power, gas, oil, and manufacturing industries. Gecko’s software portal allows clients to review all their assets in 3D, ensuring a holistic view of the equipment and prioritizing areas that needs urgent attention.
Covariant designed a universal AI to enable robots to see, reason, and act in the real world. Based on research in deep imitation learning, deep reinforcement learning and meta-learning, the company has built Covariant Brain, a universal AI for robots that can be applied to any use case or customer environment.
Superpedestrian is a US-based transportation robotics company that develops technologies for micro-electric vehicles to optimize safety, reliability, and performance. Recently, it acquired micromobility-safety startup Navmatic and launched an active safety system, Pedestrian Defense.
Sphero builds smartphone-controlled robots by combining robotic and digital technology into immersive entertainment experiences. Sphero robots allow kids to learn fundamental STEM concepts through play-based learning and educational STEAM activities.
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References of the content:
- Quotes are provided by Apoorva Bajaj, Practice Head of Financial Markets at GlobalData
- The information is based on GlobalData’s report ‘Future Robotics Unicorns – 09 September 2021′
- GlobalData’s Startup Scorecard ranks startups relatively using quantifiable data on three pillars: Investments, Innovation and Market Presence to ensure that it is objective and can be comparatively measured across different sectors and themes.
- This press release was written using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData’s team of industry experts
- “Unicorn” Definition: Investopedia, 2021
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