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Investing.com -- Dexterity Inc., an artificial intelligence (AI) robotics startup, has secured a valuation of $1.65 billion following a $95 million investment round, according to Bloomberg News. The funding round, which included participation from Lightspeed Venture Partners, highlights the growing interest in AI-powered machinery within Silicon Valley.
The recent investment brings Dexterity’s total capital raised to almost $300 million. Strategic investors such as Sumitomo Corp. (TYO:8053) have also contributed to this total.
Dexterity specializes in creating industrial robots with the ability to perform tasks with "human-like" precision. The tasks these robots are designed for include repetitive and potentially hazardous activities such as loading and unloading boxes from trucks and sorting and moving parcels.
Federal Express Corp. and United Parcel Service Inc (NYSE:UPS). are among the customers of Dexterity. The startup is part of a rising number of companies seeking to revolutionize warehouses and factory floors by leveraging AI technology, with the aim of enhancing industrial productivity and potentially reducing the need for certain types of human labor. The company plans to announce the successful funding round on Tuesday.
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