Rivian, the electric car maker known for its ready-to-use designs, is getting into robots. Irvine, Calif. The Edgest Company’s new Spooff, robotics concept, focuses on using AI-enabled robots in industrial settings. The Spun-off organization has already raised $115 million in funding.
IMINTER Robotic was unveiled during the third Rivian coin yesterday (November 4). Rivian reported $1.5 billion in quarterly revenue for the July-September quarter, a 78 percent year-over-year jump in the year before Ever EV’s tax cut. The company posted a $1.1 billion net loss, better than analysts expected. It also confirmed plans to launch its R2 SUV – The most expensive model with a price tag of $45,000-in 2026.
But Rivian’s ambitions now extend beyond cars and software. “We believe there are shared synergies between the development of autonomous driving and physical AI,” the company wrote in its shareholder letter. Rivian was sent strongly on how the robots will improve, saying that the improvement is “to focus on the development of industrial AI to be able to re-engineer how global businesses operate and receive robotic data.”
The $115 Million seed round was led by Sunset, VC firm partner Jiten Behl announced in a post. Vel, a former Rivian Executive, noted that Eclipse had invested $105 million and, another Rivian spinoff was established earlier this year to direct its technology to small, lightweight vehicles. It also released its first product line – an electric bicycle – in October.
Rivian will always represent from the concept of robotics but hold the stake in the beginning. CEO RJ Scaringe, and the chairs that touch the board of Robotic’, said that Rivian will be among the first to benefit from the company’s level of innovation. The startup came about, he explained, after Rivian took a long-term view of its production infrastructure and decided that it was necessary to “develop robotic products and solutions that would allow us to run and use our production analysts.
While AI already powers Rivian’s in-house software, Scaringe said the robotics concepts will provide virtual plant guidance and assistance, among other uses. “Just as we’ve seen AI shift how we operate and operate our businesses through the broader applications of LLMS, the power of AI thinks the world’s operations are a certain way,” he said.
Rivian isn’t the first tech player to get into AI and robotics. Rival EV maker Tesla has turned its future to self-driving cars and robotics, while chipmaker Nvidia is betting the next wave of technology will lie in physical AI systems.
Robotics Investment Money has flooded Silicon Valley in recent months. As of September, financing in the sector exceeds $ 8.5 billion, according to CrunchBase data, surpassing the 7 7.5 billion of the previous year and putting the industry on pace for its biggest year from 2021.
