El Segundo AI Robotics Firms Launchpad Raises $11-Million Series A Round

Launchpad, an AI-first robotics company powering real-world assembly automation, raised an $11-million Series A funding, co-led by Lavrock Ventures and Squadra Ventures with participation from strategic and financial investors, including Ericsson Ventures, Lockheed Martin Ventures, Cox Exponential and the Scottish National Investment Bank. This is in addition to $2.5 million in grant funding awarded to Launchpad by Scottish Enterprise.

The funds will be used by the El Segundo company to accelerate the development of its manufacturing technology that uses AI and advanced robotics to power critical automation strategies. Robotics has the potential to address a shortfall in the American manufacturing workforce.

Launchpad, which has a new research and development center in Edinburgh, Scotland, has invested in advanced AI tools, which the company estimates halve the time and cost of delivering automation solutions.

“Launchpad has built a technology that is helping manufacturers manage the optimal integration of humans and robots. We see AI tools as reimagining the manufacturing industry and revitalizing local economies,” said Jon Quick, chief executive of Launchpad, in a statement.

Launchpad was founded in 2020 to reimagine manufacturing and revitalize local economies. The company addresses labor shortages and improves competitiveness by combining proprietary AI-first technology with advanced robotics that is already deployed in factories across the U.S. and Europe.

Information for this article was sourced from Launchpad.