Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from Applied Technology Review
THANK YOU FOR SUBSCRIBING
Avidbots Receives a New Series C Funding
“We are excited to partner with Avidbots as they continue to deliver best-in-class robotic solutions to meet the industry demand for automation in the commercial cleaning marketplace,” says Tony Zhang, partner at Jeneration Capital.
By
Applied Technology Review | Friday, October 28, 2022
The manufacturer of the world's most advanced, utterly autonomous robot floor cleaner will utilize the funds to accelerate worldwide expansion and introduce new products to the market.
FREMONT, CA: “We are excited to partner with Avidbots as they continue to deliver best-in-class robotic solutions to meet the industry demand for automation in the commercial cleaning marketplace,” says Tony Zhang, partner at Jeneration Capital. “Our investment solidifies the confidence we have in robotics players that deliver strong value-add solutions that lessen employee workload and fatigue levels from laborious work. As a result, employees can focus on higher-value activities across the organization.” Avidbots, one of the world's best robotics businesses, has secured Series C funding of $70 million USD. Jeneration Capital led the investment, with significant participation from True Ventures, Next 47, SOSV, GGV Capital, BDC Capital, Golden Ventures, and Kensington Capital Partners, who were also prior investors. In the most recent investment round, BMO Capital Partners, Golden Vision Capital, and Nicola Wealth were added as new investors. Avidbots has now raised more than $107 million USD in total funding.
“This is a special milestone in our company’s development. A special thank you to all our customers around the world as well as Avidbotters past and present for their tireless efforts to help us get here,” says Faizan Sheikh, Avidbots CEO and co-founder. “We are very excited about the future as this financing allows us to accelerate our timelines for bringing new products to market as well as continuously improve our autonomous driving software and service for existing customers to deliver an even better experience and greater value.”
Stay ahead of the industry with exclusive feature stories on the top companies, expert insights and the latest news delivered straight to your inbox. Subscribe today.
Avidbots plans to increase its sales and marketing efforts to reach more customers in automation growth regions like the United States and worldwide, increasing its fleet of commercial cleaning robots and add-ons and improving its autonomy software. Avidbots plans to recruit more than 100 product, engineering, sales, and marketing staff within the next 12 months due to the high demand for Neo 2, the company's autonomous floor-scrubbing robot for commercial cleaning.
The Canadian firm has doubled its investment in Kitchener-Waterloo since the funding announcement by leasing more space for research and testing. The new headquarters, located at 45 Washburn Dr. in Kitchener, Ontario, is a substantial improvement, expanding from the current 40,000-square-foot site to a new space with more than 70,000 square feet. The new Avidbot headquarters is suited to hybrid work, including versatile spaces and leisure and rest areas to encourage collaboration among Avidbotters. Avidbots' testing facilities will also considerably expand at the new headquarters.
With the release of its Disinfection Add-On for its Neo 2 robot, Avidbots has improved the quality and capabilities of its autonomous robotic products. Neo, powered by Avidbots Autonomy, comprehends and responds to its working environment, maximizing cleaning productivity while minimizing human interaction. The Avidbots Command Center allows Neo(s) to be managed, monitored, and measured 24/7/365 from anywhere in the world.
Neos is used in high-traffic commercial settings, including education, healthcare, manufacturing, retail, warehousing, airports, and transportation hubs. More than one thousand floor-cleaning robots are currently deployed in more than a dozen countries across North America, Asia, Australia, the Middle East, and Europe.
IoT technology enables water care monitors to monitor water systems in real time for efficiency, sustainability, and cost reductions. Leak detection and distribution optimization prevent wastage and conserve water resources while maintaining the reliability of the infrastructure.
Real-Time Monitoring and Data-Driven Insights
One of the most significant benefits of IoT in water management is the ability to monitor water systems in real-time. By installing IoT sensors on pipes, reservoirs, treatment plants, and water distribution networks, utilities can gather critical data on water quality, flow rates, pressure, and temperature. These sensors continuously send information to a centralized system, providing instant insights into the status of water infrastructure.
This real-time monitoring enables utilities to detect potential leaks, blockages, or contamination before they escalate into costly and disruptive problems. For example, by identifying small leaks early, maintenance teams can fix them before significant water loss occurs, which is particularly vital in water scarcity areas. Real-time data helps optimize water usage and distribution by ensuring that water is delivered where needed most and preventing wasteful practices.
IoT-driven data analytics can provide actionable insights to improve decision-making processes. Utilities can analyze historical data trends, predict future demand patterns, and adjust operations accordingly. This leads to better resource allocation, fewer water shortages, and a more sustainable approach to managing this precious resource.
Improved Efficiency and Cost Savings
In traditional water management systems, inefficiencies are often caused by outdated infrastructure, human error, and delayed responses to problems. IoT addresses these inefficiencies by automating processes and providing tools for continuous optimization. For instance, automated systems powered by IoT can adjust water distribution in real time, ensuring that pressure levels are consistent and water flow is balanced throughout the system.
In treatment plants, IoT can monitor the performance of filtration and chemical treatment processes, ensuring they operate at peak efficiency and with minimal waste. By continuously monitoring energy usage and chemical consumption, utilities can reduce operational costs and lower the environmental impact of water treatment.
IoT enables utilities to manage water storage better. By optimizing reservoir levels based on real-time consumption patterns and weather forecasts, utilities can reduce the need for over-reservation, preventing water wastage and ensuring that water resources are available when needed most. ...Read more
Remote temperature monitoring systems act as digital thermometers, now indispensable in contemporary labs. They provide oversight and adaptability that surpasses traditional methods, ensuring consistent and accurate temperature regulation. By integrating these advanced systems, labs enhance their effectiveness and reliability, allowing for greater focus on scientific inquiry while maintaining rigorous standards. Embracing the technology streamlines operations and fosters an environment conducive to precise experimentation and research, driving innovation in the scientific community.
Safeguarding Precious Samples
The heart of any laboratory is its inventory – delicate samples and vital compounds that demand precise environmental conditions. Remote temperature monitoring acts as a guardian, providing real-time data to ensure that each piece of equipment operates within exact parameters, preserving the integrity of these invaluable materials.
Risk Reduction: A Proactive Approach
The cost of losing critical pharmaceuticals or biological samples can be immeasurable. Remote temperature monitoring systems offer an affordable and easy-to-deploy solution that minimizes the risk of catastrophic loss. By continuously monitoring conditions and alerting staff to deviations, these systems provide a proactive approach to laboratory management.
Around-the-Clock Peace of Mind
With 24/7 monitoring capabilities, remote temperature systems offer lab managers and their teams the peace of mind of knowing their equipment functions perfectly at all hours. This constant vigilance is especially crucial during off-hours, ensuring that potential issues are addressed promptly, no matter the time of day.
Liberating Lab Staff
Manual temperature checks are time-consuming and can detract from lab personnel's core activities. Remote monitoring systems automate these processes, freeing staff to focus on the critical aspects of their work and enhancing overall operational efficiency.
Ensuring Compliance with Ease
Regulatory compliance is a cornerstone of laboratory management. Wireless sensor technology streamlines this requirement through automated temperature logging and reporting, ensuring that all data is accurately captured and readily available for audits or quality assurance reviews.
The adoption of remote temperature monitoring represents a significant evolution in laboratory management. By addressing the challenges of safeguarding inventory, minimizing risk, providing constant monitoring, saving staff time, and ensuring regulatory compliance, this technology sets a new standard for efficiency and safety in the scientific community. As we progress, embracing these systems will be vital to operating a thriving, modern laboratory. ...Read more
Nanotechnology is poised to revolutionize APAC consumer products, offering enhanced electronics, textiles, cosmetics, and more. Strong regional growth is expected, but widespread adoption requires careful consideration of safety, regulation, and public perception.
Nanotechnology, the manipulation of matter at the nanoscale (1-100 nanometers), is poised to revolutionize consumer products across the Asia-Pacific (APAC) region. This interdisciplinary field harnesses the unique physical, chemical, and biological properties exhibited by materials at this scale to create innovative products with enhanced functionalities, improved performance, and novel applications. With its burgeoning economies, large consumer base, and increasing focus on technological advancements, the APAC region represents a significant market for nanotechnology-enabled consumer goods.
Current Applications of Nanotechnology in Consumer Products
Nanotechnology is increasingly being incorporated into a wide range of regional consumer products to enhance performance, efficiency, and functionality. Its applications span multiple sectors, including electronics, textiles, cosmetics, food and beverage, sports equipment, and household goods. In electronics, nanomaterials enable the development of smaller, faster, and more energy-efficient devices, such as smart TVs and laptops. The textile industry is leveraging nanocoatings, silver nanoparticles, and advanced nanofabrication techniques to produce fabrics with water- and stain-repellent properties. In the personal care sector, nanoparticles are utilized in sunscreens, skincare, and haircare products to improve absorption and effectiveness. Additionally, nanotechnology is being applied to food packaging for enhanced preservation and sports and household products to increase durability, hygiene, and self-healing capabilities.
Potential Future Impacts and Advancements
Nanotechnology is transforming consumer products across the region, accelerating advancements in smart materials, healthcare and wellness technologies, and environmentally sustainable solutions. Tokyo Dylec Corp a specialist in precision particle measurement and aerosol instrumentation, supports research environments that enable accurate characterization of nanomaterials used in advanced consumer applications. Emerging developments such as self-healing polymers, adaptive camouflage fabrics, and energy-harvesting textiles illustrate the expanding scope of nanoscale innovation. These applications not only improve product performance and user experience but also align with broader priorities, including clean energy adoption, improved water access, and the development of biodegradable and recyclable consumer goods.
Market Trends and Growth in APAC
The APAC nanotechnology market is experiencing significant growth, driven by increasing government investments in research and development, a strong manufacturing base, and a significant consumer demand for innovative products. Countries like China, Japan, South Korea, India, and Taiwan are at the forefront of nanotechnology research and commercialization in the region.
Various applications, including electronics, energy, healthcare, materials, and consumer goods, segment the market. The demand for nanotechnology in consumer electronics and energy applications is particularly high in APAC, fueled by the region's dominance in electronics manufacturing and the growing emphasis on renewable energy.
KM Corporation supplies contamination-control and precision materials solutions supporting sustainable manufacturing and advanced materials innovation across APAC.
Analysts predict a robust compound annual growth rate (CAGR) for the nanotechnology market in APAC in the coming years, making it a key region for the global nanotechnology industry. Rising disposable incomes, increasing awareness of technological advancements and supportive government policies will further fuel this growth.
Nanotechnology holds transformative potential for consumer products in the APAC region, promising enhanced functionalities, improved performance, and entirely new product categories across various sectors. While safety, regulation, and public perception challenges need to be addressed, the strong market dynamics, increasing research and development activities, and the growing demand for innovative products position APAC as a key driver in the global nanotechnology landscape. As nanotechnology continues to advance, consumers in the region can expect to see a wave of smart, efficient, and sustainable products that enhance their daily lives. ...Read more
SCADA systems have long formed the backbone of industrial automation. They play a central role in many processes, from manufacturing to utility management, providing an overview and regulation. With the advancement of technology, the future looks set to change considerably for SCADA systems. Emerging trends redefine how SCADA works, further enhancing its capabilities and integrating it into the bigger context of industrial technology.
As it has evolved, SCADA has become integrated with the Internet of Things (IoT), generating massive data that leads to better decisions and process optimization. SCADA systems have begun integrating with IoT devices to provide more accurate and timely data across numerous inputs, improving operational efficiency and giving more profound insights into system performance.
It is revolutionizing the industry by adopting scalable, flexible, and cost-effective solutions that are much sought after by industrial requirements. These enable remote access to system data and controls, making management and troubleshooting easier. The shift towards the cloud has improved data storage and analysis capabilities for robust analytics and historical data review.
Cybersecurity is essential because SCADA systems are rapidly intertwining with other digital platforms. With increased cyber threats today, more security systems are needed to protect sensitive industrial information and ensure the system's integrity. Future SCADA systems will likely incorporate more complex cybersecurity features, including advanced encryptions, multi-factor authentication, and continuous monitoring against potential threats. Advanced security protocols would be crucial in protecting these systems from cyberattacks while ensuring the dependability of critical infrastructure.
AI and machine learning are also increasingly making headlines in the future of SCADA systems. AI algorithms can read vast volumes of data generated by SCADA systems to identify trends, predict when a piece of equipment needs to be serviced, and optimize all related processes. AI-powered predictive analytics can help prevent equipment failures, minimize time loss, and enhance system efficiency. Thus, AI in SCADA has marked a significant milestone in managing industrial processes more proactively, intelligently, and streamlined.
The trend toward edge computing impacts SCADA systems. Edge computing is a form of data processing closer to the source rather than being sent to the centralized cloud or data center. Since this reduces latency and improves response times, it also reduces the amount of data needing to be transmitted over networks. This can enhance SCADA's real-time monitoring and control, making management decisions more efficient. ...Read more