A robotics innovator based out of Vancouver has received an influx of capital.
Sanctuary AI today announced a strategic investment from BDC Capital’s Thrive Venture Fund and InBC Investment Corp.
This latest round brings the total investment in Sanctuary to over $140 million to date, according to the company, which is on a mission to create the world’s first human-like intelligence in general purpose robots that will help us work more safely and efficiently to address labour challenges facing many organizations.
“We see AI in the physical world as being the next major frontier for impacting the way we work and live,” says Olivia Norton, Chief Technology and Product Officer of Sanctuary AI. “With aging populations, plummeting birth rates, and a changing view on work, intelligent embodied systems, or general purpose robots will play an important role in provincial and national productivity.”
BDC, Canada’s most active VC investor, and the provincially backed InBC, join an armada of existing investors into the B.C. tech firm. This includes Accenture, Bell, Export Development Canada, Evok Innovations, Magna, SE Health, Verizon Ventures, Workday Ventures, and the Government of Canada.
“We’re thrilled to support Sanctuary AI’s team as they realize their next groundbreaking achievements,” stated Michelle Scarborough, Managing Partner at BDC Capital’s Thrive Venture Fund.
“We have invested in Sanctuary whose mission is helping to build a new growth industry in British Columbia,” added Leah Nguyen, Chief Investment Officer at InBC. “Sanctuary is a great example of the creative and innovative spirit in BC, and by investing in leading innovators like Sanctuary we will continue to grow our technology sector, creating new jobs and anchoring IP in the province for a stronger, more sustainable economy that works for everyone.”
Founded in 2018, Sanctuary AI is known for its Phoenix robot and Carbon AI. The company is among Canada’s top startups to work for.
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