University of Utah robotics spinout Sarcos has will use the funding for the commercial manufacturing of its industrial exoskeleton product.

Sarcos Robotics, a US-based industrial robot developer spun out of University of Utah,  attracted $40m on Tuesday in a series C round led by Rotor Capital.
The round also included “most” of Sarcos’ existing shareholders, which seemingly included oilfield services provider Schlumberger.
Sarcos Robotics produces robotic systems with robust and flexible materials tailored to functioning in industrial factories and harsh outdoor climates.
The company is currently preparing to launch an exoskeleton called Guardian XO that compensates for gravity and inertia in order to assist dangerous and exhausting manual labour.
Guardian XO will be marketed under a monthly subscription fee that also covers personnel training and servicing.
Sarcos’s offering also includes automated ground drones suited to hazardous terrains, and a robotic dual-arm billed as capable of hoisting items weighing up to 1,000 pounds.
The series C capital will fund commercial production of Guardian XO, which had been in research and development for more than two decades.
Brian Finn, partner at Rotor Capital, and Cecilia Prieto, division vice-president at Schlumberger’s Americas Land, have been appointed to the board of directors.
Sarcos has now raised a total of $96.1m in venture-backed rounds since a management buyout in 2015. The company was previously acquired by defence and industrial technology supplier Raytheon in 2007, having been incorporated in 1983.
Sarcos closed a $15.6m series A round in 2017 with funding from Schlumberger and software publisher Microsoft, as well as Caterpillar Ventures and GE Ventures, subsidiaries of construction machinery supplier Caterpillar and industrial and power technology producer General Electric.
The series A round also featured Cottonwood Technology Fund, two unnamed investment firms and Sarcos’ three co-founders – Ben Wolff, Fraser Smith and Marc Olivier.
The spinout added $30m in a September 2018 series B round co-led by DIG Investment and Alex, Brown & Sons, that featured Cottonwood Technology Fund in addition to Microsoft, GE Ventures, Caterpillar Ventures and Schlumberger.
– Feature image courtesy of Sarcos Robotics