BUET grad’s robotics startup secures USD 45mln in funding

June 26, 2024

Reading Time:

Views: 124

GrayMatter Robotics, co-founded by BUET graduate Ariyan Kabir, has raised USD 45 million in Series B funding led by Wellington Management, a Boston-based investment firm.

Headquartered in Los Angeles, GrayMatter Robotics tackles surface treatment and finishing challenges faced by high-mix, high-variability manufacturers. Its GMR-AI™ technology integrates into smart robotic cells designed to assist humans in performing tedious and ergonomically challenging tasks.

Over the past two years, GrayMatter has deployed systems across North America, supporting industries including aerospace, defence, specialty vehicles, marine, metal fabrication, sports equipment, furniture, and sanitary ware. The company has processed over 7.5 million square feet of surface area, showcasing significant operational efficiency and impact.

Additionally, the company has been recognised as one of the top 50 Best Places to Work in LA by BuiltIn and received the RBR50 Award in 2022 for its innovation in the robotics market.

In case of funding, alongside Wellington Management, participants included NGP Capital, Euclidean Capital, Advance Venture Partners, and SQN Venture Partners and Existing investors such as 3M Ventures, B Capital, Bow Capital, Calibrate Ventures, In-Q-Tel (IQT), OCA Ventures, Pathbreaker Ventures, Stage Venture Partners, and Swift Ventures.

LATEST FROM OUR BLOG

RECOMMENDED FOR YOU

Pin It on Pinterest

Share This