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Research Outline

Prepared for Ben S. | Delivered November 19, 2019

Robotics Companies

Goals

To obtain information about successful and unsuccessful/defunct robotics companies, as well as the organizational structures at a variety of successful robotics companies. This research would be used to write a white paper on what makes robotics companies successful.

Early Findings

  • According to Silicon Canals, the top 10 successful robotics startups in Europe are Softomotive, Magazino, Aldebaran Robotics, Exotec Solutions, Flyability, ecoRobotix, Robopolis, Robart, Emotech, and Reach Robotics.
  • Analytics Insight reports that these are the top 10 robotics companies in the world: iRobot, GreyOrange, Epson Robots, Rethink Robotics, Alphabet Inc., DJI, Locus Robotics, Schunk, and Autonomous Solutions.
  • Softomotive is a United Kingdom startup founded by Argyris Kaninis and Marios Stavropoulos in 2005. The company has raised a total funding of €22.23 million.
  • Magazino is based in Munich. This robotics startup raised €20.1 million in February 2018.
  • The company manufactures "automated robots that are employed in intralogistics". Magazino's current valuation is estimated at €80 million to 121 million.
  • Founded by three graduates from MIT in 1990, iRobot aims at making "robots for space exploration and military defense along with consumer robots."
  • According to a report by RoboticsBiz, the following factors are some factors responsible for the failure of robotics companies: focusing on hardware instead of software, misplaced priorities from the founder, insensitivity to pricing.
  •  Rethink Robotics shut down operations in 2018. This was because the company could not get any additional funding. Also, it was unable to find a buyer in its final attempt to sell off the business and its assets.
  • Another example of a failed robotics startup is Mayfield Robotics, which closed in August 2018.