Farukh Kitchlew | Feb 19, 2024 | 0
Mujin Raises $85M in Series C Funding Round
Mujin, an industrial automation software firm, has secured $85 million in a Series C round, pushing their total to an impressive $150 million. SBI Investment led the round with participation from notable backers like Pegasus Tech Ventures and Accenture. While the company’s valuation remains undisclosed, its investor confidence is evident.
The Tokyo and Atlanta-based startup’s vision is to improve industrial productivity and safety with robots. Its mission is aligned with the looming shortage of skilled labor in manufacturing industries.
Mujin offers MujinController, a powerful software platform often described as the “central intelligence” for robots. MujinController enables cost-effective automation in manufacturing and logistics.
MujinController has already made its mark with integration into over 1,000 operational systems. Notably, it has earned the trust of major robot OEMs such as ABB, Fanuc, KUKA, Yaskawa, Universal Robots, and Kawasaki. These partnerships have enabled Mujin to address various tasks, including e-commerce product picking, palletization, depalletization, trailer unloading, and container handling.
“The MujinController introduces a unique approach to creating robotics applications, leveraging a real-time non-volatile digital twin and offering a suite of perception, planning, and control algorithms to digitize the real world and autonomously move robots and other industrial equipment through it,” Ross Diankov, Mujin’s co-founder, said in a release.
Mujin’s Impact & Expansion
The impact of Mujin’s technology is evident through impressive case studies. An example is Paltac, a Japanese logistics firm. It achieved a 90% labor reduction and doubled productivity by automating palletizing using Mujin Pack. Mujin’s precision piece-picking technology has also provided solutions for delicate and high-value items at JD.com.
With its recent funding, Mujin plans to broaden its product range, address changing market demands, and enter new global markets and customer sectors. Moreover, the company has a global presence with offices in the United States, Japan, and China, employing over 300 professionals.