Mitsubishi Electric Corporation is leading the Series B investment in real-time robotics

Strategic investment from a long-term partner to accelerate market scale for the company’s award-winning robot optimization and runtime control solutions

BOSTON, May 28, 2024–(BUSINESS WIRE)–Realtime Robotics, a leader in collision-free autonomous motion planning for industrial robots, today announced that it has secured a strategic investment from Mitsubishi Electric Corporation. This is the lead investment in Realtime Robotics’ recently opened Series B round. Mitsubishi Electric was also a participant in the Series A round and will have a senior representative join the Realtime Board of Directors.

The funds will be used to support the refinement and scalability of the company’s revolutionary robotic workstation optimization and runtime solutions that significantly help engineers and manufacturers reduce costs and increase productivity.

Realtime Robotics’ unique and innovative collision-free path planning technology provides solutions throughout the entire lifecycle of robotic workstations. Through iterative design stages, award-winning multi-robot optimization software quickly generates and evaluates hundreds of thousands of possible solutions to determine the shortest cycle time. Deployment and production are further simplified by runtime control, which allows multiple robots to work closer together while still responding to dynamic changes. Finally, when a work cell needs to be retooled, the complex robot controls can be effortlessly reprogrammed to ensure optimal cycle times from the first iteration.

Customers, including automakers BMW and Volkswagen Commercial Vehicles, as well as integrators Valiant TMS and Schaeffler Group, report reduced cycle times, reduced downtime and increased throughput as a result of working with Realtime.

As it increases its stake, Mitsubishi Electric plans to further integrate Realtime’s cutting-edge motion planning technology with 3D simulators and other software to optimize production through the power of digital twins. Later, Mitsubishi Electric plans to incorporate Realtime technology into factory automation (FA) control system devices such as programmable logic controllers (PLCs), servo motors and computer numerical controllers (CNCs) to ensure uninterrupted plant operation, meeting the needs of expanded automation capabilities, streamlined operations installations to increase efficiency and quickly respond to unexpected events.

“For years, programming industrial robots remained a rigid, expensive and labor-intensive process. “Realtime is helping manufacturers realize the next wave of performance improvements needed to get the most out of new and existing automation applications,” said Peter Howard, CEO of Real-Time Robotics. “Our optimization and runtime technologies provide powerful artificial intelligence (AI) that works much like the motor cortex of the human brain, effectively managing multiple activities simultaneously. Imagine several cooks in a busy kitchen who can collaborate seamlessly to produce meals without errors and collisions. This is the power of our technology.

Realtime interfaces with leading simulation software brands and industry standard controllers help customers and partners access advanced optimization and execution solutions through their preferred method. “We will use these funds to accelerate the development of additional interfaces, striving for full industry-wide availability in an increasingly user-friendly and efficient manner,” Howard added. “Mitsubishi Electric understands the need for manufacturers to improve efficiency and productivity in the face of rising costs and diversifying customer needs. We are excited to work closely with them to expand the use of our unique motion planning technology.”

To learn more about how Realtime Robotics can help your organization improve the efficiency and effectiveness of your industrial automation operations, visit: https://rtr.ai/.

About Mitsubishi Electric Corporation

With over 100 years of experience in providing reliable, high-quality products, Mitsubishi Electric Corporation (TOKYO: 6503) is a recognized global leader in the production, marketing and sales of electrical and electronic equipment used in factory automation, information processing and communications, space development and communications satellite, consumer electronics, industrial technology, energy, transportation and construction equipment. Mitsubishi Electric enriches society with technology in the spirit of “Change for the Better”. For the fiscal year ended March 31, 2024, the company reported revenue of 5,257.9 billion yen ($34.8 billion*). More information can be found at www.MitsubishiElectric.com.

*U.S. dollar amounts are converted from yen at the rate of 151 yen = 1 U.S. dollar, the approximate exchange rate prevailing in the Tokyo foreign exchange market as of March 31, 2024.

About real-time robotics

Realtime Robotics is a leader in automatic, collision-free motion planning of industrial robots. Its innovative technology generates optimized motion plans and locks to achieve the shortest possible cycle times in single and multi-robot workstations. The company’s solutions expand the potential of automation by enabling multiple robots to work closely together in unstructured and collaborative workspaces, responding to dynamic obstacles when immediate changes are perceived. Learn more about Realtime Robotics here, watch the technology in action here and contact us at X and LinkedIn.

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Communication

Jeff Drew
Public Relations, real-time robotics
Tel.: +1.617.233.5109
E: [email protected]