- Intel said its is spinning out its artificial intelligence robotics and biometric RealSense and announced a $50 million funding round.
- RealSense, which makes tools and technology for robotics automation, said it plans to use the funding to develop new product lines and meet growing demand.
- Tech companies like Tesla and Amazon have bet big on robotics technology and automation.
As more businesses place large bets on automation technologies, Intel is spinning out its artificial intelligence, robotics, and biometrics initiative.
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The $50-million Series A fundraising round, which comprises MediaTek Innovation Fund and Intel Capital, the chipmaker’s venture arm that it is also spinning up, was revealed Friday along with the new business, called RealSense.
RealSense, a manufacturer of robotics automation equipment and technology, stated that it will utilize the money to create new product lines and satisfy the increasing demand from customers around the globe. The CEO will be Nadav Orbach, who is currently vice president of Intel and general manager for disruptive innovation and incubation.
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In an interview with CNBC, Orbach stated, “The timing is now for physical AI,” as the technology continues to acquire popularity and use cases. Our goal is to create new product lines. We recognize the need and the desire, and given the current situation, it was appropriate for us to pursue outside funding.”
As AI use cases grow, businesses worldwide have increased their investments in the rapidly developing robotics sector.
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As major giants like Tesla and Amazon place large bets on automation and technology, Morgan Stanley predicts that the market for humanoid robots will reach $5 trillion by 2050.
Elsewhere, Salesforce CEO Marc Benioff stated last month that AI is managing 30 to 50 percent of the software vendor’s labor, and Nvidia CEO Jensen Huang referred to robots as the chipmaker’s biggest opportunity after AI.
Following the worst year for its stock in decades, Intel has implemented a number of cost-cutting measures.
Due to its inability to compete with AI, the company laid off employees and fired CEO Pat Gelsinger last year. The business announced in April that it would sell the bulk of its shares in Altera, a chip subsidiary.
Founded over ten years ago to research 3D vision technology, RealSense (previously Intel Perceptual Computing) released its first product in 2015. The company serves autonomous robot manufacturers including Eyesynth and Unitree Robotics and has roughly 130 employees in the US, Israel, and China.
According to Orbach, RealSense is committed to providing its clients with user-friendly technology and additional safety solutions for the sector. Intel will continue to own a small portion of the business.
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