Brain Corp welcomes $114m funding from SoftBank's Vision Fund

By Prasun Bose

San Diego-based AI company Brain Corp has raised $114m through SoftBank’s Vision Fund.

Brain has secured the money to help realise the potential of its technology; artificial intelligence that can turn a manufacturer’s manual equipment into a robot.

The robot is able to recognise its environment, control motion and avoid obstacles, with the AI currently used with manufacturers Ice, NSS and Minuteman International.

SoftBank’s investment will allow Brain to develop its technology for ‘multiple types of commercial and consumer robots’. 

“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,” said Brain CEO Dr Eugene Izhikevich. 

See also:


“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.”

Qualcomm Ventures, Brain’s first institutional investor, joined SoftBank on the funding round and will have a seat on the company’s board.

Japanese giant SoftBank has made this commitment at the same time as investing $159m in auto-tech company Nauto and $200m in Silicon Valley indoor farming startup Plenty.

Its Vision Fund is a combination of equity and debt from backers such as the state governments of Saudi Arabia and Abu Dhabi, as well as the likes of Apple and Sharp.

“Brain is developing truly ground-breaking technology that transforms manually operated machines into autonomous robots," added Masayoshi Son, Chairman & CEO of SoftBank Group Corp. 

“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.”

Share

Featured Articles

PwC's Kathryn Kaminsky – the role of boards on social issues

As Vice Chair Trust Solutions Co-Leader at PwC, Kathryn Kaminsky says boards play an important role in helping businesses take action on social issues

Why your business needs a Chief Transformation Officer

Responsible for driving growth and change, the Chief Transformation Officer is the latest addition to the C-suite as business undergoes major change

12 top AI and ML trends for the enterprise in 2023 – Dataiku

With 2023 likely to be a huge year for AI, experts from AI platform provider Dataiku deliver their enterprise AI and ML trends for the year ahead

From NYC to Hong Kong, the rise of the private members' club

Leadership & Strategy

Meet the CEO: Jill Stelfox of Panzura, exclusive interview

Leadership & Strategy

The best Michelin-starred restaurants that are meat-free

Sustainability