Editorial & Advertiser disclosure

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Top Stories

Posted By Gbaf News

Posted on May 24, 2018

Plus One Robotics Exits Stealth, Announces Funding Round

Leader in robot perception exits stealth to release commercial product

Plus One Robotics, Inc., a 3D vision and controls developer for robotic automation in the logistics and e-commerce markets, has exited stealth to announce the commercial release of the PickOne Perception system, an integrated 3D vision solution for imaging parcels and generating robot pick points.

Plus One Robotics has partnered with leaders in robot manufacturing, system integration, and e-commerce to develop this technology for the order fulfillment and parcel shipping markets. Rising consumer demand for shorter delivery times has increased the need for improved efficiency in sortation, induction, and singulation of the millions of packages which must be handled each day. The repetitive nature of these material handling tasks leads to high employee turnover and thus a need for an automated solution.

“It’s an exercise in labor optimization,” Plus One Robotics Chief Executive Erik Nieves said. “Our PickOne technology enables robots to perform these simple yet necessary operations, allowing employees to flow to higher value work.” At up to 1500 picks per hour, the software generates pick points faster than any other 3D vision software, allowing robots to meet or exceed human picking rates, he said.

Leveraging advances in 3D image processing and machine learning, Plus One Robotics’ technology combines hardware and software to deliver a robust, integrated solution. The PickOne system is robot-agnostic and can be installed on robots from any major robot manufacturer, including ABB, Fanuc, Kuka, Universal Robots, or Yaskawa.

“Intelligent perception is the prime mover for automation in supply chain,” said Plus One Robotics CTO and co-founder, Shaun Edwards. “As the variability of the goods to be handled continues to grow, the need for adaptive vision and seamless robot control is more acute. Our PickOne system is the first to successfully deliver on these requirements, and at pick rates that meet our customers’ throughput demands.”

Founded in 2016, the company has 11 employees and expects to add around 20 more within a year.

Plus One Robotics’ initial investment round was led by Schematic Ventures, a thought leader in supply chain automation, with participation from Lerer Hippeau, ff Ventures, First Star, and Dynamo.

“The founder DNA is really something else. Erik is a known leader in the industry with a distinguished career at Yaskawa. Shaun & Paul built the most widely-used open source software platform in industrial robotics,” said Julian Counihan, General Partner at Schematic Ventures. “As a team, they check every box needed to create the next major category of enterprise software.”

Recommended for you

  • Enhancing Retail Banking Services Through Sentiment Analysis of Customer Feedback

  • Analyzing Mobile Banking Usage Patterns to Enhance Retail Customer Experience and Engagement

  • Industry 4.0 and Digital Transformation: Enhancing Operational Efficiency in Manufacturing