The number of venture deals going to robotics companies held steady in the third quarter of 2017, but the amount of equity invested dropped by more than half, according to VCJ’s analysis of preliminary Thomson Reuters data.
Seven robotics companies raised $40.84 million in the third quarter, compared to the $82.55 million raised by the same number of companies in the second quarter.
San Francisco-based Tempo Automation, which makes rapid prototyping robots, raised the most equity in the third quarter, with $20 million in funding from early-stage investment firm Golden Seeds.
In Q2, Berkeley-based 3D Robotics, which produces commercial drones, raised $53 million from investors, including Atlantic Bridge, Foundry Group, Mayfield, True Ventures and Autodesk.
Deals have dropped off in the fourth quarter to date, with just one robotics company, Cambridge, Massachusetts-based Veo Robotics, raising $12 million from GV and Lux Capital.
Robotics venture deals by quarter
Thus far in 2017, venture funding to robotics startups has largely kept pace with 2016. year-to-date, 19 robotics companies have raised $152.2 million from investors, compared with 21 companies that raised $173.48 million in 2016.
In 2015, investments in the sector peaked with 28 deals and $287.39 million invested.
Robotics venture deals by year
Below are the 10 largest venture deals with robotics companies of 2017 thus far.
Photo of 3d robotic hand holding gold coins courtesy of PhonlamaiPhoto/iStock/Getty Images