With $3.6M in fresh funding, Elementary Robotics will transform affordable and intelligent robotics
Los Angeles, Calif. (December 19, 2018) — Elementary Robotics, a robotics platform startup founded in 2017, is announcing $3.6M in new seed funding. The company’s latest round was co-led by Fika Ventures and Fathom Capital with participation from Toyota AI Ventures, Ubiquity Ventures, Riot.vc, Osage University Partners, and Stage Venture Partners. Eva Ho, General Partner at Fika Ventures, will be joining Arye Barnehama, Elementary’s co-founder and CEO, and Bill Gross of Idealab, on the company’s board. The startup had previously closed $1.2M in pre-seed funding in October 2017.
Elementary Robotics aims to be the world leader in the next generation of assistive robotics, which Barnehama believes, “will be lower-cost, human-safe, and driven by software innovations, such as machine learning, AI, and computer vision.” Barnehama has deep experience driving complex hardware and software innovation, having previously built and sold a wearable technology startup, Melon, to DAQRI, an industrial AR startup that has raised $275 million according to Crunchbase. While at DAQRI, Arye headed up the company’s hardware and software design department.
“Building cutting-edge robotic systems to augment and amplify human’s ability to perform a wide range of advanced and complex tasks, Elementary is well-positioned to become one of the most meaningful deep tech companies in Los Angeles,” Ho said.
Toyota AI Ventures’ investment in Elementary Robotics comes as part of its recent “call for innovation” with the Toyota Research Institute (TRI). “We launched the first call with TRI’s mobile manipulation team to give talented entrepreneurs a nudge in both direction and capital to make assistive robots more useful, safe, and affordable” said Jim Adler, founding managing director of Toyota AI Ventures. “Arye and the Elementary Robotics team share our commitment to improve the quality of human life through AI and robotics. They have the talent, expertise, and vision to deliver on that commitment.”