Symbotic to enhance productivity through Veo Robotics acquisition

“We are pleased to have the former Veo Robotics team join Symbotic where they will continue this exciting work as they bring their talent, expertise, and cutting-edge technology to our company.”

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Symbotic Inc. has acquired all of Veo Robotics' assets. The industrial robots safeguarding specialists' assets include its FreeMove 3D depth-sensing computer vision system for industrial workcells as well as all related intellectual property. Through the acquisition, the AI-enabled robotics technology supplier is hoping to enhance its productivity levels to enable more flexible human-machine collaboration.

“The innovative FreeMove vision system allows Symbotic to enhance productivity for customers and provide the highest levels of safety in environments where humans interact with robots,” said Rick Cohen, Chairman and Chief Executive Officer of Symbotic. “We are pleased to have the former Veo Robotics team join Symbotic where they will continue this exciting work as they bring their talent, expertise, and cutting-edge technology to our company.”

The FreeMove system works by monitoring collaborative robot workcells, through the use of patented sensors and software, to anticipate the future position of humans and objects located within the robot’s environment. Then the workcells’ movements will be autonomously restricted and then resumed to ensure workers' safety.

Symbotic’s acquisition of Veo Robotics is worth $8.7 million and was closed on the 19th of July 2024.