San Francisco, the U.S.A-based innovator in software-defined manufacturing, Bright Machines raised USD 132 million in Series B. The company announced the funding round on October 31, 2022. The Series B round was a mixture of equity and debt. Eclipse Ventures led the equity funding worth USD 100 million. Meanwhile, Silicon Valley Bank and Hercules Capital, Inc led the debt portion worth USD 32 million.
So far, the company’s total funding amounts to USD 330 million.
Purpose of funding for Bright Machines
With the latest proceeds from Series B, Bright Machines intends to accelerate the company’s growth. It has plans to fund continued expansion into high-demand industry verticals.
Besides, Bright Machines aims to invest in developing new software and service offerings to complement its existing portfolio of products.
The company also has plans to fuel Brightware software roadmap and expand its service offerings. In addition, it aims to strengthen its partner network and grow its installed base of customers.
Later in 2022, the company will also unveil an Integration Hub in Guadalajara, Mexico and a U.S.A-based Customer Experience Center in San Francisco in early 2023.
What the company’s official has to say
Lior Susan, CEO and Co-Founder of Bright Machines, said, “We founded Bright Machines with a singular mission to enable our customers to transform the way they have historically approached product assembly. We are excited to partner with the industry in creating a more streamlined ‘design-to-make’ process in which every product can be manufactured closer to the end consumer. In today’s unpredictable, global environment, this mission is more important than ever. We believe our solutions provide an essential pathway for the industry’s transition to more local, resilient, and sustainable operations. I am proud of the positive impact we’ve made to date and excited for this next phase in our journey.”
What the investor has to say
Greg Reichow, Partner at Eclipse Ventures, said, “By offering an intelligent automation platform that is fast, flexible, and cost-effective enough to scale with their customers’ businesses, Bright Machines is uniquely positioned to address a critical gap that has persisted in manufacturing for several decades. Its software-driven microfactories are key to moving production operations into a future that does not rely on highly repetitive and labour-intensive processes.”
About the company
Amar Hanspal and Lior Susan launched the company in 2018. Bright Machines is a technology company pioneering an innovative approach to intelligent, software-defined manufacturing automation. The company operates R&D and Field Operation Centers in San Francisco, Tel Aviv and Guadalajara, with additional support in North America, Asia and Europe.
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