TL;DR:
- Mujin, a Tokyo- and Atlanta-based startup, secures $85 million in Series C funding for AI-based software in industrial automation.
- The funding round led by SBI Investment includes participation from Pegasus Tech Ventures and Accenture.
- Mujin’s innovative MujinController enables cost-effective deployment and automation of applications for industrial robots.
- The platform supports 1,000+ systems, collaborating with prominent robot manufacturers such as ABB, Fanuc, KUKA, and more.
- Success stories include doubling productivity and reducing labor requirements by 90% for firms like Paltac and JD.com.
- The investment will drive product expansion, advanced solutions development, and global market expansion.
- Mujin’s presence spans the U.S., Japan, and China, with a workforce of over 300 professionals.
Main AI News:
In response to an impending scarcity of skilled labor affecting manufacturers until 2030, an upsurge in companies is seeking automation solutions. Tokyo and Atlanta-based tech venture, Mujin, a front-runner in AI-driven software for industrial automation, envisions robots as the answer to heightened productivity and safety concerns. The firm has just announced a remarkable $85 million Series C funding round, a significant stride that elevates its total funding to an impressive $150 million. Spearheading this round is SBI Investment, accompanied by key contributors like Pegasus Tech Ventures and Accenture, to name a few. Valuation specifics, however, remain undisclosed by Mujin.
Founded in 2011 by visionaries Ross Diankov and Issei Takino, Mujin stands out with its innovative creation, the MujinController. This pioneering tool empowers users to deploy and streamline diverse applications for industrial robots, spanning manufacturing and logistics, all at a budget-friendly cost. CEO Ross Diankov shared with TechCrunch that the decision to establish Mujin in Japan was influenced by the concentration of manufacturing and automation tech firms in the region.
Diankov articulates the essence of the software platform as “the definitive brain for robots,” a paramount element propelling their intelligence and multifaceted capabilities across sectors. Currently, MujinController actively supports over 1,000 systems in production, having already gained traction among strategic partners such as ABB, Fanuc, KUKA, Yaskawa, Universal Robots, and Kawasaki, leaders in robot original equipment manufacturing.
The platform’s expertise is keenly harnessed in tasks like picking, palletizing, and de-palletizing for e-commerce goods. Earlier this year, Mujin unveiled a cutting-edge truck bot designed for unloading trailers and shipping containers. Notable success stories abound, including Japanese logistics firm Paltac, which harnessed Mujin Pack to automate manual palletizing, culminating in a remarkable doubling of productivity and slashing labor requirements by an impressive 90%. Mujin’s finesse in precision piece-picking also assisted JD.com in tackling the intricate handling of valuable and delicate items.
Elucidating the uniqueness of MujinController’s approach, Diankov asserted, “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.”
With this significant infusion of capital, Mujin is primed for vigorous product expansion, aimed at crafting advanced solutions and applications attuned to ever-evolving market demands. The vision also entails a concerted global expansion effort, penetrating new markets and captivating customers across the globe. Presently, the company boasts a robust presence in the U.S., Japan, and China, with a dynamic workforce exceeding 300 dedicated professionals.
Conclusion:
Mujin’s substantial funding signals a transformative shift in the industrial automation landscape. The infusion of capital and the success of MujinController position the company to drive innovation, enhance productivity, and meet market demands. The strategic collaboration with key players in the industry underlines Mujin’s potential to reshape industrial automation practices, creating significant opportunities for growth and efficiency gains across global markets.
