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CyPhy Works Secures Series B Funds

Wednesday, October 14, 2015 5:03:00 AM PDT | VentureDeal
   Danvers, Massachusetts  --  Robotics technology company CyPhy Works has received $22 million in its second round of institutional venture capital investment.

CyPhy manufactures purpose-built robots for a variety of industrial and defense uses.

Bessemer Venture Partners led the round, which included Motorola Solutions Venture Capital, UPS Strategic Enterprise Fund, Draper Nexus, Lux Capital and General Catalyst Partners.

The company said it would use the funding proceeds to hire additional employees in engineering, sales, marketing and customer support functions.

CyPhy also stated that the investment will "fuel the commercial launch of our tethered Persistent Aerial Reconnaissance and Communications (PARC) vehicle system."

The company was founded by CEO Helen Greiner, who previously founded the company that commercialize the Roomba robotic vacuum cleaner system.

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