Mind Robotics, the robotics company launched by Rivian Chief Executive RJ Scaringe, announced a new capital infusion of $400 million on Wednesday. The round was led by Kleiner Perkins and included investments from Salesforce Ventures and Incharge Capital, a venture firm affiliated with Volkswagen.
The fresh funding increases Mind Robotics’ cumulative financing to more than $1 billion, supporting the company’s development of smart industrial robots intended for vehicle assembly and other manufacturing applications. A person familiar with the structure of the latest round said the funding puts Mind Robotics at a $3.4 billion valuation.
Established late last year, Mind Robotics is collaborating with Rivian to train and deploy several hundred robots at the automaker’s production facility in Normal, Illinois. The startup previously raised $500 million in March and has signaled plans to broaden its customer base to serve additional manufacturing sectors beyond electric-vehicle production.
Investors participating in the round reflect a mix of technology and automotive-aligned capital. Incharge Capital is affiliated with Volkswagen, which maintains a notable investment stake in Rivian and operates a joint venture with the electric-vehicle company focused on future vehicle technology development.
This latest financing will be used to advance Mind Robotics’ product development and expand its deployment capabilities in manufacturing environments. The company’s stated objective is to scale robot training and integration work already underway with Rivian, and to begin offering its systems to a wider set of industrial customers.
Context and next steps
Mind Robotics’ trajectory includes two large fundraising events in quick succession: a $500 million round in March followed by the $400 million announced on Wednesday. The combined capital raises have helped the company surpass $1 billion in total funding, positioning it to accelerate commercialization of robots for automotive and other industrial uses.
Further operational details, including specific deployment timelines and customer contracts beyond the Rivian partnership, were not disclosed.