The Pittsburgh Robotics Network, the nonprofit organization that works to strengthen local robotics firms and connect the region’s robotics ecosystem, has found a new strategic partner.
That partner is Boston-based early-stage venture capital firm, Cybernetix Ventures, which focuses on robotics, automation and industrial AI startups.
The strategic partnership between the two entities will aim to “set Pittsburgh’s robotics startups up for success, and bring more of the cluster’s investable robotics opportunities to global markets,” according to a release from Cybernetix.
“Cybernetix Ventures is a premier investment firm for robotics, and this partnership represents a unique opportunity for not only robotics companies, but for accelerating the commercial adoption of robotics solutions overall,” Jennifer Apicella, executive director of the Pittsburgh Robotics Network, said in the release. “Both Cybernetix Ventures and the PRN share a set of aligned values that promise to bring significant benefits to robotics companies on the path to commercialization. We admire their unique expertise and understanding of how robotics will directly contribute to the advancement of specific industries, both now and into the future.”
Cybernetix, founded in 2021 by Fady Saad and Mark Martin, is known for its work with robotics clusters like the PRN, and currently has 13 companies within its portfolio. It will provide advisory services to the startups within the PRN, ultimately aiming to connect promising firms and founders with its network of potential customers, later stage investors, financial institutions and acquirers. The PRN currently lists Cybernetix as a premier partner on its website.
“The Pittsburgh Robotics Network is one of the top robotics clusters in the U.S., with a powerhouse team and strong robotics innovators emerging,” Saad, who is also a general partner at Cybernetix, said in the release. “Like our firm, the PRN is focused on markets-driven, actionable, scalable use cases for robotics. We are excited to amplify their efforts and connect the cluster further with the larger investment community.”
