Mujin Secures $85 Million in Series C Funding to Accelerate Adoption of Intelligent Robotic Automation

2023-09-05 22:23

TOKYO & ATLANTA--(BUSINESS WIRE)--Sep 5, 2023--

Mujin, a leader in intelligent robotics for manufacturing, logistics, and supply chain operations, has successfully raised $85 million in its Series C funding round, reflecting the company’s rise to market leadership. The funding round was led by SBI Investment Co., Ltd. in Japan, along with Pegasus Tech Ventures, a prominent Silicon Valley venture capital firm, 7 Industries from the Netherlands, corporate investor Accenture, and renowned angel investor Dr. James Kuffner. With this fresh infusion of capital, Mujin aims to enhance the accessibility of its revolutionary intelligent robotics platform, the MujinController, to integrators and end users, empowering them to develop new, advanced automation applications and drive further innovation.

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Mujin palletizing, depalletizing and piece picking robot deployments powered by the MujinController. (Photo: Business Wire)

Innovative Robotic Technology

At the heart of Mujin’s product line is the company’s universal “MujinController” platform, which transforms industrial robots from any manufacturer into intelligent machines capable of automating a wide variety of applications across manufacturing and logistics, with additional applications to come in the future. The MujinController platform empowers users to develop and deploy advanced automation solutions faster and at a lower cost, with more accurate, safe, and reliable performance. With over 12 years of market experience, Mujin stands as a pioneer in the intelligent robotics realm, empowering experts in industrial automation to unleash their creativity and craft innovative robotic applications.

Dr. Ross Diankov, Mujin’s cofounder said: “The MujinController introduces a unique approach to creating robotics applications, leveraging a real-time non-volatile digital twin and offering a suite of perception, planning, and control algorithms to digitize the real world and autonomously move robots and other industrial equipment through it. We are excited to continue our journey toward perfecting the MujinController and getting it into everyone’s hands.”

Market Traction

Powered by Mujin’s cutting-edge Machine Intelligence technology, the MujinController is a groundbreaking advancement that has already enabled Mujin to master some of the toughest applications in contemporary manufacturing and logistics environments. Mujin has solved palletizing and depalletizing for both single and mixed SKU orders, precise picking to streamline E-commerce order fulfillment, metal bin picking for parts in the automotive segment, unlocked truck trailer and container unloading, as well as quick deployment of robot cells.

Mujin’s mission is to enable integrators and end users to harness the full potential of intelligent robotics, unlocking a wide range of never-before-automated tasks, elevating the outlook of industrial automation on a global scale.

Dr. Diankov's advisor from his Ph.D. program at Carnegie Mellon University and now CEO of Woven by Toyota, James Kuffner, commented on the funding round, saying: "This Series C funding is a significant milestone for Mujin, a company that has pioneered intelligent automation technology since 2011. Mujin can accelerate and expand its delivery of truly state-of-the-art advanced industrial robotic solutions to customers globally, strengthening its position as the technology market leader.”

Future Vision

Mujin’s platform continues to drive efficiency and productivity, reshaping industries and laying the foundation for a future where automation plays a pivotal role in all workplaces. With a strong commitment to eliminating mundane and hazardous tasks, Mujin envisions a world where workers can unleash their true potential and focus on more meaningful endeavors. As Mujin embarks on this new chapter of growth and innovation, the company remains committed to delivering cutting-edge automation solutions that transform industries and drive operational efficiency worldwide.

Investor Comments

SBI Investment Co, Ltd.: “We have always wanted to support such companies that can compete and win in the world. Mujin is the company which made us feel we had found such a company. We are very proud to be working with Mujin, a company that represents Japanese high-end technology, and we will do everything we can to support the company so that it can become a world-class company.”

Pegasus Tech Ventures:Anis Uzzaman, Founder and CEO of Pegasus Tech Ventures, expressed his enthusiasm for Mujin’s future potential. “Mujin has developed a platform technology that enables companies to develop and deploy automation solutions that were previously not possible,” said Uzzaman. “As a result, Mujin has been able to race ahead of the competition and deliver results that others cannot. We look forward to helping Mujin accelerate their growth in the U.S. market.”

Accenture:Mr. Atsushi Egawa, representative director and president, Accenture Japan Ltd., said, “Accenture has been collaborating with Mujin since 2019 on reinventing the logistics and manufacturing industries with AI and robotics. Mujin is world-renowned for its robotics technology and an integral part of the transformation efforts in these industries globally. Together, we will continue to help our logistics and manufacturing clients drive value from hyper-automation and data-driven management.”

7-Industries: “Mujin is the global leading cutting-edge Robotics company, deploying autonomous robots for years, and we are looking forward to supporting Mujin in shaping the future of industrial automation.”

About Mujin

Mujin, a robotics technology company, develops Machine Intelligence for robot controllers that are designed as a common platform for industrial and collaborative robots specializing in logistics and other pick-and-place applications. Launched in Tokyo in 2011 with offices in China and in the U.S., Mujin works with many of the world’s largest companies to make material handling applications easier to deploy, more accurate and less costly. The company’s flagship product, the MujinController, uses Machine Intelligence technology to give robotic systems real-time decision-making ability that enables truly autonomous, reliable, and production-capable robot applications.

For more information, visit https://www.mujin-corp.com.

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CONTACT: press@mujin-corp.com

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KEYWORD: UNITED STATES JAPAN NORTH AMERICA ASIA PACIFIC GEORGIA

INDUSTRY KEYWORD: OTHER TRANSPORT OTHER MANUFACTURING TECHNOLOGY ENGINEERING TRANSPORT OTHER TECHNOLOGY MANUFACTURING ROBOTICS LOGISTICS/SUPPLY CHAIN MANAGEMENT

SOURCE: Mujin

PUB: 09/05/2023 10:00 AM/DISC: 09/05/2023 10:00 AM

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