Brain Corp, an artificial intelligence company specializing in the development of self-driving technology for robots, has raised $114 million in a Series C funding round led by the SoftBank Vision Fund.
Brain has developed AI and self-driving technology to enable robots to perceive their environment, learn to control their motion, and navigate using visual cues and landmarks while avoiding people and obstacles.
The investment will be used to further develop AI technology and create brains for multiple types of commercial and consumer robots.
Dr Eugene Izhikevich, CEO of Brain, says: “At Brain, we believe tomorrow’s robots will be intelligent autonomous machines that take care of us.
“Such robots will be as commonplace as computers and mobile phones are today. This funding will allow us to accelerate our mission, and we look forward to collaborating with the SoftBank Vision Fund as a long-term strategic partner.”
Masayoshi Son, CEO of SoftBank, says: “Brain is developing truly ground-breaking technology that transforms manually operated machines into autonomous robots.
“Brain’s team is at the forefront of creating the future and a more convenient way of life through technology. We are confident in their success and look forward to seeing them realize their vision.”
Qualcomm Ventures, the investment arm of Qualcomm, and Brain’s first institutional investor, also invested in the funding round. As part of its investment, Qualcomm Ventures will retain a seat on Brain’s board.
Dr Paul Jacobs, who holds a PhD degree in robotics and serves as executive chairman of Qualcomm, says: “Brain applies its world class AI to transform ordinary machines into smart robots.
“The first application of their technology is already improving performance and reducing costs, generating real benefits for their customers and real revenues for Brain.”