Rivian has launched its second spinoff business this year: Mind Robotics, a new industrial AI and robotics company.
According to the company’s third-quarter shareholder letter released Tuesday, the new venture will concentrate on employing “industrial AI to transform how physical world businesses function and utilize Rivian operations data as the basis for a robotics data flywheel.” (That’s a lot of jargon; we’ve asked Rivian for further clarification and will update the article if they respond.)
Rivian announced Tuesday that it has obtained about $110 million in “external seed capital,” but it did not immediately provide any other information about Mind Robotics. “We think AI-enabled robotics can enable a wide array of industrial applications,” Rivian stated in the letter.
The introduction of Mind Robotics is the second time this year that Rivian has established a new independent business. In March, the company spun off its skunkworks micromobility division into a startup known as Also Inc. Eclipse provided a portion of the funding for the new company, with additional backing from Greenoaks Capital.
A trademark application for Mind Robotics was filed with the U.S. Patent and Trademark Office on Monday, naming Eclipse partner Jiten Behl as a signatory for the newly formed company and listing Eclipse’s Palo Alto headquarters as the corporate address. Behl has not yet responded to a request for comment.
It is unknown whether Rivian personnel are transferring to Mind Robotics, as they did with Also. A Rivian representative declined to comment. However, the business suggested it was a possibility in Tuesday’s letter.
“With our deep pool of tech talent and a culture that promotes innovation, we have been able to spot more ways to add value to speed up our mission on a broader level while keeping Rivian focused,” Scaringe wrote
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Robotics and industrial AI are currently popular investment areas. A number of humanoid robotics firms are raising funds and attempting to deliver products, including Tesla. General Motors is likewise developing its own robotics and AI division.
However, besides Rivian’s announcement on Tuesday, very little is known about Mind Robotics’ future activities. There is currently little to no online presence for the company, with the exception of the trademark application. The application is quite broad, stating that Mind Robotics may utilize the trademark for anything from machinery to vehicles to “incubators for eggs.”
