Heartland Robotics Raises $20 Million in Series B Financing

11/30/10
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Paul Maeder to join the board of company bringing a new innovative line of robots to market.

 

Highland Capital Partners and Sigma Partners join Charles River Ventures and Bezos Expeditions in funding company’s breakthrough vision for robots in manufacturing

Cambridge, MA – November 30, 2010 – Heartland Robotics, Inc. today announced it has raised $20 million in Series B financing, led by Highland Capital Partners. Sigma Partners joined Highland as a new investor and the Company’s existing investors, Charles River Ventures and Bezos Expeditions, the personal investment company of Jeff Bezos, also participated in this financing. Paul Maeder, co-founder of Highland Capital Partners, will join the Company’s board of directors.

Scott Eckert, the Company’s President and Chief Executive Officer said, “We are thrilled to welcome two world-class venture capital firms as investors and as business partners to help Heartland finalize product development and bring our innovative line of robots to market. Their experience and capabilities will be instrumental in helping the company to execute our vision.”

Heartland Robotics was founded in 2008 by iRobot co-Founder and former Director of MIT’s Computer Science and Artificial Intelligence Laboratory, Rodney Brooks, with the goal of introducing a new generation of robots to improve productivity in manufacturing environments. “Our robots will be intuitive to use, intelligent and highly flexible. They’ll be easy to buy, train, and deploy and will be unbelievably inexpensive. Heartland Robotics will change the definition of how and where robots can be used, dramatically expanding the robot marketplace,” explained Dr. Brooks.

Paul Maeder, General Partner at Highland Capital Partners, said “Heartland’s vision for improving the competitiveness of American manufacturing through innovative robotic technology is compelling for manufacturers and important for America. I am excited to join the company’s board of directors and help the team to achieve that vision.”

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