ABB embraces VSLAM Navigation acquiring Sevensense
ABB has confirmed its acquisition of Sevensense Robotics, a company specializing in VSLAM (Visual Simultaneous Localization and Mapping) software.
This move marks a strategic expansion for ABB following its 2021 acquisition of ASTI Mobile Robotics for $190 million.
The Sevensense deal, reportedly smaller in scale, reflects ABB's continued investment in mobile robotics technology.
Sevensense, which had its last major funding round in 2021, was potentially seeking additional investment in 2023. With ABB being one of the key investors in 2021, the acquisition seems to be a strategic decision to integrate Sevensense more directly into ABB's operations, amidst a backdrop of decreasing venture capital funding in the sector.
This acquisition mirrors Zebra Technologies' 2021 purchase of Fetch Robotics for approximately $300 million. Like ABB, Zebra had been an investor in Fetch prior to the acquisition. However, Fetch's last known fundraising effort was back in 2019.
Since its foundation in 2018, Sevensense has been dedicated to developing technology for highly autonomous mobile robots, aiming to close the gap between current automation capabilities and future aspirations.
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Their technology platform is built upon advanced computer vision and AI algorithms, providing a Visual AI navigation solution that enhances the autonomy of various mobile machines, from AMRs to forklifts and cleaning robots.
Sevensense's collaboration with ABB began with winning the ABB Robotics’ Innovation Challenge in 2021, leading to a robust partnership and investment from ABB in Sevensense's Series A funding round. This partnership notably resulted in the joint development of Visual SLAM AMRs for the market.
The acquisition by ABB represents a significant chapter in Sevensense's story, offering an opportunity for growth and innovation in the mobile robotics sector.
Together, ABB and Sevensense plan to advance the development of intelligent, autonomous robots, focusing on expanding their customer base in material handling and service robotics.
With mobile robotics still in its early stages, Sevensense's acquisition by ABB signals a promising future for robotics in enhancing everyday life. This move not only solidifies ABB's role in this evolving field but also ensures Sevensense's continued contribution to the advancement of mobile robotics.
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