Tuesday, May 1, 2018
Embodied Inc., a Pasadena-based socially assistive robotics and artificial intelligence company that develops companion care and wellness robots, has raised more than $12 million from investors, according to a securities filing.
The Old Town Pasadena firm raised $12.4 million from 10 investors, according to the filing posted April 30 by the U.S. Securities and Exchange Commission.
Embodied was cofounded in late 2016 by Maja Mataric, a professor of computer science, neuroscience and pediatrics at USC, where she oversees the development of socially assistive robots, and Paolo Pirjanian, a longtime robotics researcher and former chief technology officer at iRobot, based in Bedford, Mass.
“We are developing robots that care for people,” according to an Embodied statement on Crunchbase. It said the company aims “to build life-like, interactive robots to serve as motivators, coaches and companions that help and empower people to be better at helping themselves.”
The firm’s latest funding round follows two seed rounds in 2016 and last year that netted nearly $6.8 million. Its investors include Intel Corp., Osage Partners and Amazon.com Inc., according to its website.
Bioscience industry advocates say there’s a growing market for the new field of socially assisted robotics.
“There’s a lot of need for any technology that can help with assisted living, because of the large number of people that are getting older and living by themselves,” said Ahmed Enany, chief executive of the Southern California Biomedical Council, a Los Angeles based trade group.
Health business reporter Dana Bartholomew can be reached at email@example.com. Follow him on Twitter @_DanaBart.