Bright Machines is a software and robotics company whose applications focus on automation for the manufacturing industry.[1] The San Francisco-based company has two primary products. First, Bright Machines employs “micro-factories“ made up of robot cells for the purpose of automating electronics manufacturing and inspection. Second, Bright Machines offers software tools for the purpose of improving efficiencies in the manufacturing process.[2]
Bright Machines was founded on May 25, 2018, as a spin-off of Flex Ltd. Initially the company began as stealth startup under the name AutoLabs AI. Amar Hanspal, former co-CEO at Autodesk, was named CEO.[3] Its board of directors are Stephen Luczo, executive chairman of Seagate; and Lior Susan, founder of Eclipse Ventures.[4] In August 2021, the company named Michael Keogh its new chief financial officer,[5] and in December 2021, the company announced that Lior Susan had been appointed interim CEO.[6]
On October 23, 2018, the company officially changed its name to Bright Machines and announced it raised $179 million for its Series A. The $179 million funding round was led by Eclipse, with participation from Flex.[7] Other investors include BMW i Ventures and Lux Capital.[5]
In May 2021, Bright Machines announced plans for an initial public offering through a SPAC merger with SCVX Corp, which valued the company at $1.6 billion and was expected to generate approximately $435 million in cash.[5][8] On December 13, 2021, the company announced that it was terminating the SPAC agreement, citing "market conditions."[9] On October 31, 2022, the company announced a $100 million Series B funding round, led by Eclipse Ventures, along with $32 million in debt financing, led by Silicon Valley Bank and Hercules Capital, bringing its total amount raised to $330 million,[10] and valuing the company at $938 million.[11] In April 2023, Gayle Sheppard was named sole CEO, with Lior Susan moving to a new role as executive chairman.[12]
Bright Machines makes software and robotic modules that assemble small goods, such as household appliances, tools, and electronics. The modules can be plugged together to create a small assembly line, and the robots can be programmed through the company's software to follow instructions.[8]
