• About
  • Advertise
  • Contact
Tuesday, July 5, 2022
  • Login
WRITE FOR US
Economy.pk
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
No Result
View All Result
Economy.pk
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
Economy.pk
Home New

Silicon Valley to offer robots on lease to small companies

bySidra Butt
August 28, 2021
in New, Technology, World
Reading Time: 2 mins read
0
Robots
99
SHARES
836
VIEWS
Share on FacebookShare on Twitter

Better technology and the need to pay higher wages to humans have produced a surge in sales of robots to big companies all across America. But few of these automatons are making it into smaller factories, which are wary of big upfront costs and lacking robot engineering talent.

So venture capitalists are backing a new financial model: lease robots, install and maintain them, charge factories by the hour or month, cut the risk and initial costs.

RelatedPosts

1,160 Pakistani expats serving as Hajj volunteers

Bill Gates shares 48-year-old resume. ‘Everyone starts somewhere’, says LinkedIn

Govt buildings will be switched to solar energy: Marriyum

Saman Farid, a former venture capitalist who invested in robots for over a decade and saw the challenges of getting robots into factories, set up rent-a-robot Formic Technologies with backing from Lux Capital and Initialized Capital, an early investor in self-driving tech startup Cruise.

Initialized Capital partner Garry Tan sees a confluence of cheaper and better robot computer vision and artificial intelligence technology, low-interest rates, and the threat of U.S.-China tensions on supply chains stoking interest in robot subscriptions.

“It’s at the centre of three of the largest megatrends that are driving all of society now,” said Tan.

Techies and small business owners do not always understand each other, a dilemma that led an industry group, the Association for Manufacturing Technology, to set up a San Francisco office a couple of years ago, to bring the two together.

The lease model puts much of the financial burden on robot startups which carry the risk of a manufacturer losing a contract or changing a product. Smaller factories often have small runs of more tailored products that are not worth a robot. And Silicon Valley Robotics, an industry group supporting robot startups, says that in the past, funding has been a challenge.

Still, some high-profile investors are on board.

Tiger Global, the biggest funder of tech startups this year, has backed three robot firms offering subscriptions in seven months.

Tags: AmericaCruiseLux CapitalRobot Engineering TalentRoboticsRobotsSilicon ValleyUS-China
Sidra Butt

Sidra Butt

Related Posts

1,160 Pakistani expats serving as Hajj volunteers

1,160 Pakistani expats serving as Hajj volunteers

ISLAMABAD: One thousand one hundred and sixty Pakistani expatriates have joined the Hajj mission as volunteers this year to serve...

Bill Gates shares 48-year-old resume. 'Everyone starts somewhere', says LinkedIn

Bill Gates shares 48-year-old resume. ‘Everyone starts somewhere’, says LinkedIn

If you are struggling in compiling a perfect resume, take heart from the fact that even global business tycoon Bill...

Next Post
Dinner

Ceiling fan falls amidst family dinner time

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

‘Women’s PSL will be held in February’ PCB Chairman Ramiz announces

‘Women’s PSL will be held in February’ PCB Chairman Ramiz announces

Chitral won Shandur Polo Tournament 

Chitral won Shandur Polo Tournament 

Pakistan’s trade deficit widens 57% YoY in FY22

Pakistan’s trade deficit widens 57% YoY in FY22

Households consuming up to 100 units of power to get free electricity; Hamza Shahbaz

Households consuming up to 100 units of power to get free electricity; Hamza Shahbaz

KP govt allocates over Rs47 billion for rehabilitation of highways

KP govt allocates over Rs47 billion for rehabilitation of highways

Shaheen Shah Afridi becomes honorary police officer

Shaheen Shah Afridi becomes honorary police officer

Connect with us

Twitter

Economy.pk

Economy.pk touches diverse topics with a lighter note and is geared toward audiences with various interests and all ages. Come and explore Economy.pk. Ample details and analysis are provided in extraordinarily readable manner making them compelling and interesting at the same time.

Category

  • World
  • Politics
  • Business
  • Technology
  • Education
  • Health
  • Life & Style
  • Opinions

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin

Sitelinks

  • Sitemap

Download our APP

download on android app download on apple app
  • About
  • Advertise
  • Contact

© 2022 All Rights Reserved Economy.pk | Designed & Developed by Digital Otters

  • LATEST
  • World
    • Europe
    • Americas
    • Asia
    • Oceania
    • Africa
    • Canada
    • Middle East
  • Finance
  • Politics
  • Business
    • Economy
    • Finance
    • Entrepreneurship
    • Real Estate
  • Technology
    • Cyber Security
    • Mobiles
    • Social Media
  • Education
  • Sports
  • Life & Style
    • Personalities
    • Art
    • Culture
    • History
    • Entertainment
    • Fashion
    • Food
    • Health
      • Environment
      • Fitness
  • Sponsored

© 2022 All Rights Reserved Economy.pk | Designed & Developed by Digital Otters

No Result
View All Result

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In