New Crunchbase numbers this week see investments in robotics once again the trend in a positive direction. The previous two years presented a constant decline in overall figures, after a record 2021 driven by job losses caused by the pandemic. As we approach the second half of the year, 2024 is on track to surpass last year’s numbers.
In the first six months of the year, $4.2 billion has been invested in the category, putting this year on track to surpass 2023’s 12-month total of $6.8 billion. That’s still well below 2021’s COVID peak of $17.7 billion, and even 2022’s $10.3 billion.
However, this does indicate a recovery from the double whammy of economic headwinds and post-pandemic reopenings that sent the industry tumbling again.
The hot humanoid category continued to gain steam. The figure opened the way There, with a massive $675 million Series B funding round, that raise alone got things moving a bit. The other notable investment in humanoids came via 1X. The Norwegian company, which counts OpenAI as one of its early backers, brought in a healthy $100 million.
Medical robots have had a good year, thanks to big rounds from MMI and Rono Surgical, but once again, labor replacement is the biggest driver as spaces like warehouses and factories look to automate jobs they’re struggling to fill.
Those demands aren’t going away anytime soon, while continued enthusiasm for investment in all things AI is likely to further drive the growth of robotics startups. Unfortunately, it may take another pandemic for things to reach 2021 levels.