Israeli startup Intuition Robotics, the company behind the digital companion ElliQ, announced Thursday it has secured a total of $36 million in a Series B funding led by Sparx Group and OurCrowd.
In a press release, the startup disclosed it will be using the fresh capital for technology development and platform expansion, with plans to extend its reach towards other sectors, including automotive, home robots, education, home appliances, hospitality, and toys.
“This investment will fuel the evolution of agents from utilitarian digital assistants to full-fledged digital companions that are at our side, anticipating our needs and seamlessly, proactively improving our lives by helping us achieve certain outcomes,” said Intuition Robotics CEO Dor Skuler in a statement.
“Our cognitive AI technology has the potential to transform the way people and machines interact through empathetic relationships built on trust, exhibiting highly personalized and delightful experiences that amplify our customers’ brands,” he added.
Along with the newly raised funds, the Israeli startup also announced it is currently working with the Toyota Research Institute to “revolutionize” the car-experience and bring its technology to the automaker’s LQ concept.
“Intuition Robotics is creating disruptive technology that will inspire companies to re-imagine how machines might amplify the human experience,” said Jim Adler, founding managing partner at Toyota AI Ventures. As part of the deal, Adler will be joining Intuition Robotic’s board of directors.
Founded in 2016, Intuition Robotics operates as a provider of digital companion technologies. It’s product, called ElliQ, serves as an artificial intelligence-based robot companion designed for elderly people. The latest capital secured in the round brings Robotics’ total raised to $58 million.
Other investors who have participated in the funding include Samsung Next, Toyota AI Ventures, Bloomberg Beta, iRobot, Sompo Holdings, Union Tech Ventures, Happiness Capital, and Capital Point.
