Bright Machines, a technology company pioneering an innovative approach to intelligent, software-defined manufacturing automation, has announced raising $132 million in debt and Series B equity funding.
The equity portion of the funding, worth $100 million, was led by Eclipse Ventures. The debt portion of the funding, worth $32 million, was led by Silicon Valley Bank and Hercules Capital. This round of funding brings the total raised by Bright Machines to $330M since the company’s founding in 2018.
The company said Bright Machines intends to use the funds to accelerate the company’s growth, which includes continued expansion into high-demand industry verticals, and the development of new software and service offerings to complement its existing portfolio of products.
Bright Machines leverages a full-stack approach to fundamentally change the flexibility, scalability, and economics of production. It operates R&D and Field Operation Centers in San Francisco, Tel Aviv and Guadalajara, with additional support in North America, Asia, and Europe.
This latest funding round comes at an important inflection point for the company as it continues to reshape the $250 billion industrial automation market. Its innovative technology, strong customer traction, and global footprint are clear indications of the market’s appetite for its solutions and future vision.
With its legacy manufacturing roots, coupled with strong domain knowledge across high-growth industry verticals, and deep expertise in software and hardware engineering, Bright Machines is strategically well-positioned to usher in this next generation of intelligent automation technology.
“We founded Bright Machines with a singular mission to enable our customers to transform the way they have historically approached product assembly. We are excited to partner with the industry in creating a more streamlined ‘design-to-make’ process in which every product can be manufactured closer to the end consumer,” said Lior Susan, CEO and Co-Founder of Bright Machines.
Eclipse Ventures, on the other hand, is a leading US venture capital firm with over $2.7 billion in assets under management. The firm has 70-plus portfolio companies and a team of investors with deep operating expertise in technology, manufacturing, supply chain, logistics, healthcare and consumer products.