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Shorooq and Presight, a G42 subsidiary, participated in the $100 million Series A round for US-based Maven Robotics, which develops autonomous industrial robots for logistics and manufacturing. Maven will use the funding to expand production of the third generation of its robots, develop the fourth generation, and broaden the scope of material-handling tasks.
Maven Robotics has revealed itself after raising $100 million in a Series A round, confirming that it operates up to eight robots at customer facilities for 16 hours a day with an uptime rate of 99% or higher. The company is currently focused on rebuilding mixed pallets in distribution centers, with a plan to produce 250 third-generation robots.