Strategic investment from long-term partner accelerates market expansion for company’s award-winning robotics optimization and runtime control solutions
Boston, May 28, 2024–(BUSINESS WIRE)–Realtime Robotics, the leader in collision-free autonomous motion planning for industrial robots, today announced it has secured a strategic investment from Mitsubishi Electric Corporation. This is the lead investment in Realtime Robotics’ recently launched Series B round. Mitsubishi Electric also participated in the Series A round and will add senior representation to Realtime’s board of directors.
The funding will be used to support the refinement and scalability of the company’s innovative robotic workcell optimization and runtime solutions, which significantly help engineers and manufacturers reduce costs and improve productivity.
Realtime Robotics’ unique, innovative collision-free path planning technology provides solutions across the entire lifecycle of a robotic workcell. During the iterative design phase, our award-winning multi-robot optimization software rapidly generates and evaluates hundreds of thousands of possible solutions to identify the shortest cycle time. Run-time control further simplifies deployment and production, enabling multiple robots to work closely together while simultaneously responding to dynamic changes. Finally, if a workcell requires retooling, the complex robot controls are easily reprogrammed to deliver optimal cycle times from the first iteration.
Customers such as automakers BMW and Volkswagen Commercial Vehicles, and integrators Valiant TMS and Schaeffler Group, report improved cycle times, reduced downtime, and increased throughput by working with Realtime.
By increasing its stake, Mitsubishi Electric plans to further integrate Realtime’s cutting-edge motion planning technology into its 3D simulators and other software to optimize manufacturing with the power of digital twins. Mitsubishi Electric will then incorporate Realtime’s technology into its factory automation (FA) control system devices, such as programmable logic controllers (PLCs), servo motors and computer numerical control devices (CNCs), to meet needs such as expanding automation capabilities, streamlining factory operations for improved efficiency and responding quickly to unexpected events to ensure uninterrupted factory operations.
“For too long, programming industrial robots has remained a rigid, costly and labor-intensive process. Realtime is helping manufacturers deliver the next wave of efficiency gains they need to get the most out of new and existing automation applications,” said Peter Howard, CEO of Realtime Robotics. “Our optimization and runtime technology constitutes a powerful artificial intelligence (AI) that acts like the motor cortex of the human brain, efficiently managing multiple movements simultaneously. Imagine multiple chefs in a crowded kitchen working seamlessly with each other to prepare a dish without errors or collisions. That’s the power of our technology.”
Realtime’s interfaces with leading simulation software brands and industry-standard controllers enable customers and partners to access powerful optimization and runtime solutions in the way they prefer. “We will use the funding to accelerate the development of further interfaces to make them fully accessible across the industry in a more user-friendly and efficient manner,” Howard added. “Mitsubishi Electric understands that manufacturers facing rising costs and diversifying customer needs need to improve efficiency and productivity. We are pleased to be working closely with Mitsubishi Electric to expand the use of our unique motion planning technology.”
To learn more about how Realtime Robotics can help make your industrial automation efforts more efficient and effective, visit https://rtr.ai/.
About Mitsubishi Electric Corporation
Mitsubishi Electric Corporation (TOKYO: 6503), with over 100 years of experience providing reliable, high-quality products, is a globally recognized leader in the manufacturing, marketing and sales of electric and electronic equipment used in factory automation, information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building facilities. With a spirit of “Change for the Better,” Mitsubishi Electric enriches society with technology. The company recorded revenue of 5,257.9 billion yen (US$34.8 billion*) for the fiscal year ended March 31, 2024. For more information, please visit www.MitsubishiElectric.com.
*The US dollar amount is calculated by converting it to yen at 1 US dollar = 151 yen, which is the approximate exchange rate in the Tokyo foreign exchange market on March 31, 2024.
About Real-Time Robotics
Realtime Robotics is the leader in automated collision-free motion planning for industrial robots. The company’s innovative technology generates optimized motion plans and interlocks to achieve the shortest possible cycle times in single and multi-robot work cells. Their solutions expand the possibilities of automation, enabling multiple robots to work closely together in unstructured and collaborative spaces and react to dynamic obstacles the moment a change is perceived. Learn more about Realtime Robotics here and watch a live demonstration of their technology here. X And LinkedIn.
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contact address
Jeff Drew
Public Relations, Real-Time Robotics
Phone: +1.617.233.5109
Email: jeffreydrew@rtr.ai
