Alphabet subsidiary Sidewalk Labs and Ikea franchisee Ingka were among the participants in flexible furniture provider Ori's series B round.
US-based interior design technology provider Ori has received $20m in a series B round featuring Sidewalk Labs, the urban infrastructure subsidiary of internet and technology conglomerate Alphabet.
Ingka Group, a holding company that controls several outlets of furniture retailer Ikea, also contributed to the round, along with private equity group Geolo Capital and venture capital firm Khosla Ventures.
Founded in 2015 as MorphLab, Ori produces furniture such as beds or cupboards that employ robotics mechanisms to morph into different layouts, in order to provide increased storage and living space. It takes its company name from origami, the Japanese art of folding paper into complex structures.
The company has so far targeted the consumer space, but will use the series B proceeds to expand into delivering full structures equipped with its robotic technology in partnership with architects and property developers.
Ori has appointed Edwin Hendriksen, a former senior-vice president for investment and developer at compact hotel chain citizen, to lead the business as president. It was founded at MIT Media Lab under the helm of CEO Hasier Larrea, who led a project at the research laboratory focused on architectural robotics.
Khosla Ventures led $6m a series A round for Ori in late 2017 that included undisclosed additional backers, after the company had secured $750,000 in equity from unnamed backers in 2015 according to a regulatory filing.
Image courtesy of Ori. The original version of this story appeared on our sister site, Global University Venturing.
