Robotic VISION Technologies Secures $10.5M in Funding

SILVER SPRING, Md.–([1])–Robotic VISION Technologies Inc. (RVT), a leader in the machine vision
software industry, announced today that it has secured more than $10.5
million in funding. The investment comes from a mix of CEO and Director
funding as well as investments from technology funds from Silicon
Valley, Northern Virginia, Canada and Germany.

To date, RVT has used its funding to focus heavily on R&D while
continually enhancing its software with faster computing power producing
increased precision and speed with low-cost, yet highly sophisticated,
off-the-shelf vision hardware components. With those efforts solidified,
the company is now in the phase of building out its sales and marketing
capabilities to support growth and market penetration in both the
industrial and collaborative robot markets.

“Our focus has been to perfect our quality and product line prior to any
major marketing effort,” said RVT Founder and Chief Executive Officer
Rick Weidinger. “With the success we have achieved in early
implementations along with the patents we’ve secured for our innovation,
now is the time to build our sales channels and lead the way in 3D
vision guidance software.”

RVT and its partners were recently granted four new patents for several
aspects of its technology, including visual sensing and processing
software that improves the efficiency and safety of automated robotic
systems. RVT has recently filed for 14 patents for a total portfolio of
20 vision guidance patents. Major automotive and other manufacturers are
already using RVT’s new technology in their factories, and more are
applying upgraded RVT software into their production lines now.

“The reality of machine vision will be one of the most disruptive forces
in all areas of manufacturing and transportation over the next decade,”
said New York Times bestselling author Ric Edelman, RVT investor
and founder & executive chairman of Edelman Financial Services, one of
the largest investment management firms in the nation, with $22 billion
in assets under management. “RVT and its technology are poised to
transform the way robots function in multiple markets. Their innovations
in how machines perceive and respond to their environments are exactly
what customers are looking for as they develop the next generation of
equipment and end user products.”

Visit Robotic VISION Technologies at the AIA Vision show April 10-12 at
Booth #907.

SEE, THINK, DO.

About Robotic VISION Technologies Inc.

Robotic VISION Technologies Inc., a privately held machine vision
software company, is a recognized leader in the field of Vision Guided
Robotics (VGR™). RVT’s 2D, 2.5D, and 3D vision guidance software
platform allows robots to “See, Think, Do. RVT’s software
and technologies enable image recognition, machine vision, machine
learning, and robot guidance processes in industrial and non-industrial
markets. RVT has recently developed a 3D vision guidance system for the
collaborative robot market and has been designated as a Certified System
Integrator by Universal Robots. The company’s main 3D vision solution
features the Henry Ford Technology Award as well as the BAE Chairman’s
Award for outstanding service. Major manufacturers using RVT’s products
include Ford, General Motors, Chrysler, Honda, Toyota, Nissan,
Harley-Davidson, Boeing, and Johnson & Johnson. RVT’s eVF™ software
platform is installed in hundreds of systems worldwide and operates
every day controlling over one-half billion dollars of capital
equipment. RVT holds 20 patents and patents pending and was recently
named the most accurate and precise vision guidance solution among
global leaders in the industry.

References

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