The use of industrial robotics has been growing steadily since the 1960s when robotic-assisted automation was first introduced into manufacturing in the automotive industry. The advent of the internet and connected devices is now fueling a new uptick in robotic sales as applications are more sophisticated and specialized. Today’s environment with labor shortages, high labor costs, and decreasing hardware costs ensure that the future of manufacturing will be reliant on robotic automation. GrayMatter Robotics is a platform that powers smart robotic assistants that focus on specialized surface finishing tasks in manufacturing like sanding, polishing, and spraying. The platform serves as an operating system that seamlessly integrates with commercially available robots, sensors, and tools to give manufacturers the ability to introduce automation in a timely manner without friction, significant training, or excess cost. Founded in 2020, GrayMatter allows manufacturers to be flexible and more competitive at a time when manufacturing is slowly returning to the states. LA TechWatch caught up with GrayMatter Robotics Cofounder and CEO Ariyan Kabir to learn more about the use of industrial robotics in manufacturing, the company’s strategic plans, recent round of funding led by Stage Venture Partners and Calibrate Ventures.
Funded in the Alley
Adway Raises $6M for its Mobility Based Ad Platform That Turns Any Vehicle Into an Ad Unit
Brands and marketers are always looking for new and innovative ways to reach target audiences. The convergence of technology and mobility solutions like rideshares has enabled a new wave of ad units. For example, taxis for several years have had ads in cars and on top of vehicles, which now have become digitized from analog. This LA startup takes it one step further. Adway is a digital advertising platform that uses proprietary projection technology to display ads on the side of any vehicle without any major modifications. The projectors are affixed to a vehicle’s mirrors and ad buyers can purchase slots based on geography in real-time, enabling sophisticated targeting. The platform also tracks the number of cellular devices in and around the vehicles through Bluetooth to provide measured reach metrics. Adway drivers are given a share of the advertising revenue based on the number of hours they drive. LA TechWatch caught up with CEO Sasha Krylov to learn more about how the idea for the business came to fruition, the company’s strategic plans, latest round of funding from investors that include Upfront Ventures, Revel Partners, Watertower Ventures, and Inflection Capital.
Sunbit Scores Another $130M for its Buy Now, Pay Later Platform for Everyday Services and Becomes LA’s Newest Unicorn
Platforms like Klarna and Affirm have popularized buy it now, pay later platforms to distribute payments over time for e-commerce purchases. Sunbit is the buy now, pay later platform that brings the flexibility and ease of these payments for everyday services like optical care, dental visits, automobile maintenance, and election healthcare. Transactions, for amounts as low as $60 to as high as $10K, can be approved for the flexible solution within 30-seconds in 7300+ locations. LA TechWatch caught up with Cofounder and CEO Arad Levertov to learn more about how Sunbit’s platform brings consumers peace of mind with the ability to pay over time, the company’s strategic plans, and latest round of funding from investors that include Group 11, Zeev Ventures, Migdal Insurance, Harel Group, AltaIR Capital, and More Investment House.
Axonius Raises Another $100M and Secures Unicorn Status for its Cybersecurity Asset Management Platform
According to IBM, the average cost of a data breach is $4M but only 29% of businesses have a cybersecurity expert on their IT team. As businesses use more and more data and as employees use more devices (the average employee now uses 2.3 devices), the potential liability increases each day. Axonius’ cybersecurity asset management platform gives enterprises a full inventory of their assets and ensures that these devices are properly being secured. The platform takes a holistic approach by integrating into existing cybersecurity tools and workflows and ensuring that all devices being used (whether physical or virtual) are compliant with the company’s security protocols. Founded by former intelligence officers from the Israeli Defense Force, the platform solves the fragmentation problem found in enterprises when it comes to security. AlleyWatch caught up with CEO and Cofounder Dean Sysman to learn more about the complexities in managing sound cybersecurity policies throughout an enterprise, the company’s future plans, and latest round of funding from investors that include Stripes, Bessemer Venture Partners, OpenView, Lightspeed, and Vertex.
The 11 Largest US Tech Startup Funding Rounds of August 2020
Each of these companies raised over $100M last month! Everything you need to need to know about the largest US startup funding rounds of August 2020; broken down by industry, stage, investors, and more…