and some of the recent large fundraising rounds by automation startups such as Covariant — one of Lux's portfolio companies — are evidence that the wave is starting to gain power, he said.
To this point, only a few companies have invested heavily in advanced automation. But not too long ago, the same was true of cloud computing, software sold as a subscription-based service, and mobile applications, Farshchi said. "Just like how we saw cloud and [software as a service] and mobile go from kind of niche to mainstream, automation is going to go from niche to mainstream," he said.Veo Robotics is developing technology that will allow industrial robots to work safely around people.Many of the new companies in the industry are developing robots to speed up warehouse operations or the packing and shipping of goods.
Lux has already been investing in the trend. In addition to Covariant, Farshchi's firm has backed Veo Robotics, which is developing computer vision and sensing technology for industrial robots that would allow people to work safely side-by-side with them. It's also invested in Aeva, which is working on a sensor for autonomous vehicles that would replace several separate sensors, including Lidar, radars, and cameras.
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