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Lucid Bots secures $9.1M in Series A funding led by Cubit Capital to advance its portfolio of autonomous robotics

May 08, 2024•over 1 year ago

Amount Raised

$9.1 Million

Round Type

series a

CharlotteRobotics

Investors

Idea FundCubit Capital

Description

Lucid Bots, a robotics company specializing in building intelligent robots for labor-intensive and dirty jobs, has raised $9.1M in Series A funding led by Cubit Capital. The company plans to utilize the funds to advance its portfolio of autonomous robotics, scale operations, and expand into new markets using its AI-driven software and sensor platform.

Company Information

Company

Lucid Bots

Location

Charlotte, North Carolina, United States

About

Founded in 2018, Lucid Bots Inc. is an AI robotics company that is committed to uplifting humanity by building the world's most productive and responsible robots that can do dangerous and demanding tasks. Headquartered in Charlotte, the company engineers, manufactures, and supports its products domestically, which include the Sherpa, a cleaning drone, and the Lavo Bot, a pressure-washing robot. Lucid's robots are elevating safety and efficiency for a growing number of customers around the world. Lucid is a Y Combinator-backed company, with investments from Cubit Capital, Idea Fund Partners, Danu Ventures, and others.

FundzWatch™ Score

Medium Activity

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VC-backed spending patterns

VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers