Bright Machines Raises $132M in New Funding
SAN FRANCISCO — Bright Machines has announced that it has raised $132M to accelerate the company's growth and aid the development of new software and service offerings to add to its existing portfolio of projects. The $132 million in funds includes $100 million in Series B equity funding led by Eclipse Ventures and $32 million in debt 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.
“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. In today’s unpredictable, global environment, this mission is more important than ever,” said Lior Susan, CEO and Co-Founder of Bright Machines. “We believe our solutions provide an essential pathway for the industry’s transition to more local, resilient, and sustainable operations. I am proud of the positive impact we’ve made to date and excited for this next phase in our journey.”
In addition to refining and extending the capabilities of its flagship product, the Bright Machines Microfactory, the company plans to use the funds to accelerate its Brightware software roadmap, expand its service offerings, strengthen its partner network, and grow its installed base of customers. It will also unveil an Integration Hub in Guadalajara, Mexico, later this year and a U.S. based Customer Experience Center in San Francisco in early 2023.
“By offering an intelligent automation platform that is fast, flexible, and cost-effective enough to scale with their customers’ businesses, Bright Machines is uniquely positioned to address a critical gap that has persisted in manufacturing for several decades,” said Greg Reichow, Partner at Eclipse Ventures. “Its software-driven microfactories are key to moving production operations into a future that does not rely on highly repetitive and labor-intensive processes.”
