2024-07-03
Sanctuary AI secures additional funding to advance human-like general-purpose robots
Sanctuary Cognitive Systems Corp., better known as Sanctuary AI, has announced a significant milestone in its quest to create the world's first human-like intelligence in general-purpose robots. The Vancouver-based company has secured new investment, bringing its total funding to an impressive $140 million to date. This latest influx of capital comes from BDC Capital's Thrive Venture Fund and InBC Investment Corp., underscoring the growing interest in advanced robotics and artificial general intelligence (AGI) within Canada's tech ecosystem.
Founded in 2018, Sanctuary AI has set itself apart in the competitive field of humanoid robotics by taking a unique approach to development. While many competitors have focused primarily on perfecting bipedal motion, Sanctuary AI has prioritized the development of embedded AI, dual-arm coordination, hand-eye coordination, and advanced perception and task-planning capabilities. This strategy is embodied in their flagship robot, Phoenix, which is designed to interact with its environment in increasingly sophisticated ways.
Olivia Norton, co-founder and chief technology and product officer of Sanctuary AI, emphasized the company's vision: "Following the incredible impact of pre-trained transformers on the digital world over the last seven years, with acceleration in the last few, we see AI in the physical world as being the next major frontier for impacting the way we work and live." Norton highlighted the potential for intelligent embodied systems or general-purpose robots to address challenges posed by aging populations, declining birth rates, and evolving attitudes towards work.
The company's approach has already yielded promising results. In April 2024, Sanctuary AI partnered with automotive parts supplier Magna International Inc. to unveil the seventh generation of Phoenix. This upgraded version of the robot showcased its capabilities by completing 110 retail-related tasks during a week-long pilot deployment at a Mark's retail store in British Columbia. Impressively, the company claims that Phoenix can now learn new tasks in under 24 hours, a significant advancement in the field of adaptive robotics.
Sanctuary AI's team brings together a wealth of experience from industry giants such as Amazon, Microsoft, and SoftBank Robotics. The company also boasts founders from pioneering firms like D-Wave, Creative Destruction Lab, and Kindred, which was at the forefront of applying reinforcement learning to production robots. This collective expertise has contributed to Sanctuary AI's rapid progress and innovative approach to AGI development.
The recent funding announcement follows a series of strategic moves by the company. In December 2023, Sanctuary AI acquired intellectual property assets from Giant.AI Inc. and Tangible Research, bolstering its portfolio of touch and grasping technologies. These acquisitions are expected to play a crucial role in the ongoing development of their general-purpose robots.
The investment from BDC Capital and InBC Investment Corp. not only provides Sanctuary AI with additional resources but also signals strong confidence in Canada's potential to lead in the field of advanced robotics and AI. Michelle Scarborough, managing partner at BDC Capital's Thrive Venture Fund, expressed pride in supporting innovative women-led businesses like Sanctuary AI, highlighting the company's potential to disrupt the current market.
Similarly, Leah Nguyen, chief investment officer at InBC, emphasized the importance of investing in companies like Sanctuary AI to foster growth in British Columbia's technology sector. "Sanctuary is a great example of the creative and innovative spirit in B.C., 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," Nguyen stated.
The company's growing list of investors and customers spans various industries across Canada, the U.S., and other countries. Existing investors include notable names such as Accenture, Bell, Export Development Canada, Evok Innovations, Magna, SE Health, Verizon Ventures, and Workday Ventures. Additionally, Sanctuary AI received a $30 million Strategic Innovation Fund (SIF) contribution from the Canadian government in November 2022, further solidifying its position as a key player in Canada's tech landscape.
As Sanctuary AI continues to push the boundaries of what's possible in robotics and AGI, the implications for various industries are profound. The company envisions its human-like, general-purpose robots addressing labor challenges while improving safety, efficiency, and sustainability across multiple sectors. With this latest round of funding, Sanctuary AI is well-positioned to accelerate its research and development efforts, potentially bringing us closer to a future where intelligent robots work alongside humans in diverse environments.
The robotics industry will be watching closely as Sanctuary AI moves forward with its ambitious plans. The company's progress could have far-reaching effects on the job market, manufacturing processes, and even our daily interactions with technology. As we stand on the cusp of this robotic revolution, Sanctuary AI's journey represents not just a technological advancement, but a potential shift in how we perceive and interact with intelligent machines in our world.
Share with friends:
Write and read comments can only authorized users