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Nomagic Picks Up $44M for Its AI-Powered Robotic Arms
The company, which focuses on serving industrial spaces with its robotic arm solutions, has secured a significant investment of $44 million. According to reports, this funding will be used to fuel the growth and expansion of its operations.
Nomagic reportedly saw a 220% increase in annual recurring revenue last year, which is an impressive figure considering the industry’s rapidly growing demand for automation in industrial spaces. The company has stated that it plans to maintain its momentum by expanding into new sectors such as e-commerce and pharmaceuticals.
The funding comes at a time when robotics is becoming increasingly important in industries worldwide. Big players like Nvidia and SoftBank have identified this trend, citing both the need for legacy equipment upgrades and an emphasis on creating greenfield opportunities for new equipment.
Nomagic’s closest competitor, Covariant, recently made headlines after securing a significant deal with Amazon, which reportedly valued the company at around $625 million.
Source: https://techcrunch.com/2025/02/26/nomagic-picks-up-44m-for-its-ai-powered-robotic-arms/
