Veo Receives $29 Million Investment

Robotic security company Veo Robotics has received $29 million in investment. Companies such as Safar Partners and Yamaha Motor Ventures participated in this investment round. Amazon also participated in the investment, focusing on supply chain, fulfillment and logistics technologies. A $1 billion investment was made by Amazon Industrial Innovation Fund. Veo Robotics, which was previously invested by companies such as Google Ventures and Baidu Ventures, continues to grow with this new investment.

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Investments are growing in the robotics industry

Veo Robotics is a Massachusetts-based startup. It was founded in 2016 by Patrick Sobalvarro, Clara Vu and Scott Denenberg. The startup focuses on health and safety risks during warehousing activities. If these risks are not controlled, warehouses can face high employee turnover, injuries, illnesses, job losses, legal issues and even fatalities. Veo Robotics develops solutions with smart devices to prevent these problems.

Recently, Amazon has been at the forefront of investing in robotics. Alex Ceballos Encarnacion, Amazon's vice president of worldwide corporate development, said that the Amazon Industrial Innovation Fund will focus on new technologies that will increase the speed of delivery for warehouse and logistics workers and further improve customer experiences.