TechDogs-"Cybernetix Ventures And Pittsburgh Robotics Network Sign Strategic Partnership To Boost Robotics"

Emerging Technology

Cybernetix Ventures And Pittsburgh Robotics Network Sign Strategic Partnership To Boost Robotics

By TD NewsDesk

TD NewsDesk

Updated on Thu, Apr 18, 2024

Overall Rating
Robotics has made it possible for businesses to automate tasks that are tough or hazardous for humans.

Alternatively, they can automate simple, routine tasks that don’t necessarily need humans to be executed, such as in the agriculture, manufacturing, logistics, healthcare and construction fields.

The application uses of this technology are vast and organizations engaged in the sector can face hurdles in the form of finding potential investors, customers and suitable markets.

This is where Cybernetix Ventures, an early-stage venture capital firm, came in to help the Pittsburgh Robotics Network (PRN), a body that connects numerous robotics startups and organizations in the Pittsburgh area.

So, what did the two organizations reveal? Let’s explore!

What Did Cybernetix Ventures and Pittsburgh Robotics Network Announce?

  • As per a press release published on its website, Pittsburgh Robotics Network announced it had signed a strategic partnership with Cybernetix Ventures, a leading early-stage venture capital firm focused on robotics, automation and industrial AI.

  • The Pittsburgh Robotics Network (PRN) represents the companies and leaders who make up the Pittsburgh robotics ecosystem, which consists of over 100 robotics startups and organizations including the worldwide leaders in autonomous vehicle development.

  • PRN is anchored by Carnegie Mellon University (CMU).

  • The partnership comes as Cybernetix builds on its long-term robotics cluster engagement efforts, which includes connecting the most promising robotics startups with like-minded businesses, potential customers, later stage investors, financial institutions and acquirers across the world.

  • The move is a part of Cybernetix’s joint initiative to provide a platform for robotics startups in Pittsburgh to grow and succeed by bringing the cluster’s investable robotics opportunities to global markets.

  • Cybernetix will assume the role of Leader Premier Partner and provide advisory services to the network’s startups.

  • The announcement coincides with The Agriculture & Robotics Summit, a two-day workshop facilitated by industry experts, where PRN is “welcoming agriculture innovators, investors and industry to the city to explore the future of smart agriculture.”

  • Cybernetix, which focuses on robotics applications in manufacturing, logistics, construction and healthcare, participated as it expands its focus to include agriculture and climate robotics.

TechDogs-"An Image Of Jennifer Apicella, Executive Director, Pittsburgh Robotics Network (Left) And Fady Saad, Founder & GP, Cybernetix Ventures (Right)"  

What Did Stakeholders Say?

  • Jennifer Apicella, Executive Director of the Pittsburgh Robotics Network, said, “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.”

  • [Contd.] “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.”

  • Fady Saad, Founder & GP of Cybernetix Ventures, said, “The Pittsburgh Robotics Network is one of the top robotics clusters in the US, with a powerhouse team and strong robotics innovators emerging.”

  • [Contd.] “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.”

  • [Contd.] “The new use cases and overall necessity for robotics innovation in agriculture have accelerated the sector’s investment potential, and we will explore investments in agriculture and climate robotics to add to our solid portfolio.”

  • [Contd.] “The work the Pittsburgh Robotics Network is doing to bring the industry’s largest customers together with the brightest minds in robotics is exactly in line with how we like to approach robotics business building at Cybernetix.”

Do you think other venture capital firms should make similar moves for other technology sectors?

Let us know in the comments below!

First published on Thu, Apr 18, 2024

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RoboticsEmerging Technology Strategic Partnership Cybernetix Ventures Pittsburgh Robotics Network PRN Robotics Cluster Engagement

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