Insider Brief
- RIOS Intelligent Machines has completed a $13 million Series B funding round co-led by Yamaha Motor Corporation and IAG Capital Partners, reflecting strong support and confidence in RIOS’s AI-powered robotics for the manufacturing industry.
- The funding will be utilized to expand RIOS’s growth in key industry segments such as wood products, beverage distribution, and packaged food products, with a focus on delivering innovative AI and vision-driven robotics solutions.
- With nearly full participation from existing investors, including a doubled pro-rata investment from Series A lead investor Main Sequence, RIOS is set to continue its mission of revolutionizing manufacturing automation with AI-powered technologies.
PRESS RELEASE — MENLO PARK, Calif./March 5, 2024— (BUSINESS WIRE) — RIOS Intelligent Machines, a leader in AI-powered robotics for the manufacturing industry, is excited to announce the successful completion of a $13 million Series B funding round. This significant milestone was co-led by Yamaha Motor Corporation and IAG Capital Partners, marking a continued and strengthened partnership in advancing manufacturing and automation technologies.
Since 2020, Yamaha Motor Corporation has been a steadfast investor in RIOS. Their decision to co-lead this round alongside IAG Capital Partners highlights their confidence in RIOS’s technology, team, and growing customer attraction. With this investment, Yamaha has more than doubled its investment in RIOS, underscoring its firm support of the company’s strategy to move the business forward.
IAG Capital Partners, known for their team of experienced operators and substantial capital resources, also plays a critical role in this partnership. Their expertise in building manufacturing companies will be invaluable as RIOS continues to expand its reach and capabilities. “RIOS’s full production vision, from automation to quality assurance to process improvement to digital twinning, and deep understanding of production needs, positions them well in the world of manufacturing,” said Dennis Sacha, partner at IAG, who led jet engine and P-3 production for six years during his career in the Navy.
Furthermore, RIOS is proud to announce nearly full participation from existing investors, including RIOS’s Series A Lead Investor, Main Sequence, which doubled its pro-rata investment.
This new round of funding will fuel RIOS’s growth in three key industry segments: wood products, beverage distribution, and packaged food products. The company will continue to roll out highly differentiated AI and vision-driven robotics solutions, starting with a groundbreaking product in the lumber and plywood handling sector.
RIOS’s core values emphasize partnering with customers on their automation journey providing reliable and flexible automation solutions. The company is dedicated to empowering clients with real-time insights and control over their AI-powered robotics, surpassing the capabilities of traditional automation systems.
Stay tuned for upcoming product announcements and further details on RIOS’s trajectory in revolutionizing manufacturing automation.
About RIOS Intelligent Machines
RIOS is a pioneering firm in AI-powered robotics and AI-powered vision, focusing on revolutionizing manufacturing and automation processes. With a commitment to innovation and customer partnership, RIOS is at the forefront of delivering automation solutions that enhance production efficiency and control.
About IAG
IAG Capital Partners is a private investment group based in Charleston, South Carolina. The firm seeks investments in early-stage companies and partners with innovative leaders to build companies that will impact our lives and the world. Dennis Sacha, partner at IAG, will be joining the Board at RIOS.
Contacts
Lisa Spicer
[email protected]
(818) 914–2579
For more information, visit https://rios.ai/
