The Robot Report Podcast · Unpacking Amazon’s unique Covariant AI acquisition
In Episode 162 of The Robot Report Podcast, co-hosts Steve Crowe and Mike Oitzman discuss the latest robotics news from the past week, including a review of the July funding report, which topped $1.3 billion. 1X Technologies AS also announced the NEO Beta humanoid model and prepared for pilot deployments into test home environments.
The recent news of the Covariant AI acqui-hire by Amazon is an interesting strategic move by the retailing giant. Both companies declined to comment on the details of the company acquisition. We asked Brad Porter, former Amazon robotics leader and current CEO and founder of Collaborative Robotics, to share his insights into the state of AI development and why this is an exciting move by Amazon.
If you would like to sponsor a future episode of The Robot Report Podcast, contact Courtney Nagle at cnagle@wtwhmedia.com.
Show timeline
- 6:15 – News of the week
- 35:23 – Interview about Covariant with Brad Porter, founder and CEO of Collaborative Robotics
News beyond Covariant
1X Technologies unveiled the NEO Beta prototype of its humanoid robot, marking a significant step toward its planned pilot deployments in select homes later this year. Bernt Børnich, CEO of 1X, emphasized safety as the company’s top priority.
“Safety is the cornerstone that allows us to confidently introduce NEO Beta into homes,” he stated. “It will gather essential feedback and demonstrate its capabilities in real-world settings.”
Robotics investments continued to surge in July 2024, reaching approximately $1.3 billion. This marked a slight increase compared with the 12-month average of $1.2 billion, driven by 47 investments in robotics companies.
The cumulative funding for the first seven months of the year reached $9.7 billion, exceeding the $8 billion raised during the same period in 2023. While June saw a significant spike due to two large investments in autonomous vehicle companies, July’s total remained robust.
Two notable investments in July went to software companies: Applied Intuition and Skild AI, both securing $300 million each. Applied Intuition focuses on simulation and other software solutions for autonomous vehicles, while Skild AI develops robotics foundation models.
Another significant investment was made in Monarch Tractor, an agribotics company based in California. The company raised $133 million in Series C funding to further develop its autonomous operations product, Autodrive, and expand its global footprint.
The restaurant and hospitality sectors also attracted investments in robotics. Botrista Technology, a provider of robotic beverage production platforms, secured $65 million, while OakDeer Robotics, specializing in food cooking robots, raised $27 million.
Swiss-Mile has secured $22 million in seed funding. The ETH Zurich spinout’s wheeled design sets it apart from other quadruped robots such as Boston Dynamics’ Spot or Unitree’s Go2.
Swiss-Mile has been conducting pilots with customers, focusing on applications like last-mile delivery in smart cities and security for critical infrastructure.
The company’s founders initially used ANYbotics‘ ANYmal quadruped during their research at ETH Zurich. Since its incorporation, Swiss-Mile has been using the Unitree B2 platform to develop its embodied AI. Notably, the funding round was led by Jeff Bezos’ Bezos Expeditions and HongShan.
The past week’s news also included the 2024 Indy Autonomous Challenge’s return to Indianapolis:
