A Croatian startup helping robots see to perform a variety of industrial tasks has won backing from Koch Industries Inc.
The Koch Disruptive Technologies arm of Wichita-based Koch has led a $31 million Series A investment round into Zagreb, Croatia-based Gideon Brothers, which specializes in AI and 3D vision-based autonomous mobile robots (AMRs) that, for example, can be used to manage warehouse inventory or perform material handling in a manufacturing facility.
Participating in the funding round with Koch Disruptive Technologies were Germany-based logistics company DB Schenker, startup investor Prologis Ventures, Milwaukee-based Rite-Hite, which manufacturers loading docks and other items for industrial facilities, and existing Gideon Brothers shareholders.
The money will help the company further develop and commercialize the technology, and will also be used to open offices in Munich, Germany, and a U.S. location in Boston.
That expansion comes as the pandemic and associated labor shortages has accelerated the demand for automation in numerous industrial sectors, Gideon Brothers CEO Matija Kopić said in a press release.
"With more than 300 Koch operations and production units globally, KDT recognizes the unique capabilities of and potential for Gideon Brothers' technology to substantially transform how businesses can approach warehouse and manufacturing processes through cutting edge AI and 3D AMR technology,” said Annant Patel, director at Koch Disruptive Technologies. “Gideon's vision to enhance current industrial warehouse and manufacturing operations through close collaboration between humans and their robotic assistants, while automating complex manual processes to make work safer and more efficient, presents a shift in an industry ready for disruption.”
The funding continues more than $30 billion in technology-related investments by Koch companies in recent years, including those coming from the Chase Koch-led KDT division since its founding in 2017.
