Sarcos Robotics Raises Funds for Industrial Exoskeleton; Ben Wolff Quoted

Sarcos Robotics has raised $40M in a round of Series C funding led by Rotor Capital and will use the funds to advance the production of its Guardian XO industrial exoskeleton.

Sarcos said Tuesday Guardian XO is a battery-powered, full-body robot designed to boost endurance and strength by providing users lifting capacity of up to 200 pounds. It is slated for commercial launch in 2021 and could be used in defense, construction, aviation, logistics and manufacturing industries, among others.

“This new funding will allow us to achieve our next goal of scaling production and shipping commercial units of the Guardian XO exoskeleton,” said Ben Wolff, chairman and CEO of Sarcos. “In addition, we will also advance the development of our ‘smart’ version of the Guardian XO exoskeleton with our Cybernetic Training for Autonomous Robots (CYTAR) artificial intelligence platform, which will enable the robot to augment the operator’s precision and skill to complete specific tasks.”

Sarcos also named Brian Finn, a partner at Rotor Capital, and Cecilia Prieto, division vice president for land operations in the Americas at Schlumberger, to its board of directors.

Finn is a more than 35-year financial services industry veteran. He previously served as CEO and chairman of Asset Management Finance and senior adviser to Credit Suisse. He sits on the boards of Owl Rock Capital and Scotts Miracle-Gro and serves as an investment partner at NyCa Partners and chairman of Star Mountain Capital and Covr Financial Technologies.

Prieto is a more than two-decade engineering and project management professional. She previously served as vice president of manufacturing at Schlumberger.