New figures from Crunchbase this week show that robotics investment is trending positively once again. After a record-breaking 2021 due to pandemic-induced job losses, the overall number has been steadily declining for the past two years. As we head into the second half of the year, 2024 is on track to surpass last year’s numbers.
With $4.2 billion invested in this category in the first half of this year, this year is likely to surpass 2023's 12-month total of $6.8 billion. This figure is also well below the COVID peak of $17.7 billion in 2021 and $10.3 billion in 2022.
But it's also a sign that the industry is recovering from the first and second blows of economic headwinds and post-pandemic reopening, which sent it crashing back down.
The hot humanoid category continues to gain momentum. Figure led the way with a $675 million Series B. That funding alone moved the needle a little bit. Other notable humanoid investments have been made through 1X. The Norwegian company, which counts OpenAI as an early backer, brought in a healthy $100 million.
Medical robotics is having a good year thanks to major investments from MMI and Rono Surgical, but the biggest driver is workforce displacement as they look to automate hard-to-fill jobs in spaces like warehouses and factories.
This need isn't going away anytime soon, and the ongoing investment frenzy for all things AI is likely to further fuel robotics startup growth. Unfortunately, it may take another pandemic to reach 2021 levels.
