Clearpath Robotics, a company born out of a University of Waterloo robotics team and officially launched in 2009, that builds rugged all-terrain mobile robots, has raised $11.2 million in funding. The investment was led by RRE Ventures with participation from iNovia Capital. RRE co-founder and managing partner Stuart Ellman will join Clearpath’s board of directors.
McKinsey & Co. estimates that the application of advanced robotics across healthcare, manufacturing, and services could generate a potential economic impact of $1.7 trillion to $4.5 trillion per year by 2025, and the use of advanced robots for industrial and service tasks will match the output of 40 million to 75 million full-time workers.
[Image courtesy: Clearpath Robotics]