In a significant milestone for the future of collaborative robotics, Veo Robotics has announced the closure of a $29 million funding round, marking a pivotal moment in the advancement of human-in-the-loop robotic systems. This funding includes a $14 million investment from the Amazon Industrial Innovation Fund, Safar Partners, and Yamaha Motor Ventures, complemented by a $15 million funding round from the previous year.

The infusion of capital is poised to accelerate Veo's strategic initiatives aimed at partnering with select corporate entities to deploy a new class of efficient and collaborative robotic systems. These systems, enabled by Veo's proprietary safety technology, are designed to revolutionize workplace automation by seamlessly integrating human workers with robotic counterparts.

Clara Vu, co-founder and CTO of Veo, underscores the company's mission: "The newest generation of intelligent robotic systems work with people, not separately from them. Unlocking this potential requires a new generation of safety systems – this is Veo’s mission, and we’re very excited to be taking this next step."

At the heart of Veo's offerings lies FreeMove, its flagship product, a comprehensive 3D safeguarding solution poised to redefine the landscape of human-robot collaboration. FreeMove has garnered functional safety certification to Performance Level D, a testament to its ability to facilitate close collaboration between humans and a diverse range of industrial robots from leading manufacturers such as FANUC, Yaskawa Motoman, ABB, Kawasaki, and Kuka.

The core technology of FreeMove comprises strategically positioned sensors surrounding an industrial robot work cell, capturing rich image data of the entire workspace. Leveraging this data, the FreeMove Engine employs advanced algorithms to identify key elements within the work cell, including robots, workpieces, humans, and potential obstructions, enabling precise tracking and forecasting of future states.

Critical to its operation is FreeMove's Protective Separation Distance (PSD) feature, which acts as a safeguard against potential human-robot collisions. If an individual breaches the predetermined PSD boundary, FreeMove promptly signals the robot to halt its operations, ensuring the safety of human workers. Once the violation is cleared, the system allows the robot to resume its tasks seamlessly.

Patrick Sobalvarro, co-founder and CEO of Veo Robotics, emphasizes the growing demand for safe robot operation in close proximity to humans: "With the increased need for efficiency improvement in industrial environments, we’ve seen increasing requirements for safe robot operation in the close presence of humans. These integrated workflows involving both robots and employees provide maximum flexibility and ROI for our customers in manufacturing and logistics."

Veo Robotics remains committed to collaborating closely with select customers who share their vision for the future of automation. The latest funding injection will facilitate the expansion of Veo's early-adopter program, fostering strategic partnerships and driving innovation in the realm of human-centric robotics.

Matt Peterson, Director at Amazon’s Industrial Innovation Fund, highlights the appeal of Veo Robotics' safety-focused approach: "As investors, we were drawn to Veo Robotics’ focus on safety in the workplace. Their technology is both collaborative and effective, prioritizing employee wellbeing. We are excited to support Veo Robotics and their vision to design innovative and human-centric robotics."

In summary, Veo Robotics' latest funding round represents a significant leap forward in the evolution of collaborative robotics, poised to usher in a new era of workplace safety, efficiency, and automation. With a steadfast commitment to innovation and partnership, Veo is poised to reshape the future of human-robot collaboration across diverse industries.