Clobotics Corporation announced today that it has received a $10 million investment from Tiger Management Fund for its Pre-B+ series round. The total amount raised to date by the company is $53 million. Clobotics will use the funding to further support the development of its AI-enabled Smart Wind and Smart Retail solutions. It also plans to accelerate the mass-deployment of its solutions in the global marketplace.
Clobotics is known for combining smart hardware, computer-vision-based photo recognition, analytics, and deep learning to deliver fast and accurate data-driven insights. These rich insights let customers reduce their pain points and increase their business and profitability.
Serving the Wind and Retail Industries
For wind, Clobotics combines autonomous drones, high-resolution photography, and deep-learning algorithms to “inspect” and analyze turbine blades. Vital information on blade weakness or damage is identified and delivered to customers just hours after inspection. Such work previously took days to complete and required on-site inspection crews. With the additional funding, Clobotics will explore acquisition opportunities in Europe and continue to perfect its autonomous wind turbine inspections around the world.
On the retail side, Clobotics is further developing its Smart Retail solutions, now called RIAAS (Retail-Insights-as-a-Service). It leverages AI as well as tiny cameras and other IoT devices to instantly “see” millions of products on store shelves. Because the devices are on-site, entire stores can be continuously scanned in real-time. Product tracking data is returned to the customer instantly, giving them a true view of what’s happening in every store. With Clobotics’ solution, Retailers and CPG companies can now make on-the-fly decisions to increase sales and adjust inventory, while the previous product tracking methods could take hours or days to complete and provided only a small “sample” of overall product activity.
“Clobotics has spent the past three years using tightly-integrated hardware and software to provide AI services for retail and wind energy industries,” stated Founder and CEO George Yan. “With the new funding, we’re now ready to blitz-scale the service to customers across the globe.”
More About Tiger Management Corp.
Tiger is also known as the Tiger Fund, an American hedge fund and family office founded by Julian Robertson. The fund began investing in 1980 and was closed to outside investors in March of 2000. It operates today by direct public-equity investments and in seeding new investment funds.
More About Clobotics Corp.
Bellevue, WA-based Clobotics was founded in November 2016 by former Microsoft executives. The company has grown quickly. Their research and development team includes former Amazon, Facebook, and Intel engineers. Previous funding came from California’s GGV Capital and South Korea’s KTB Network, among others. The company has forged ongoing partnerships with Wal-Mart, Coca-Cola, GEV Wind Power, and others.
