Bright Machines Overview
Bright Machines is a manufacturing startup that aims to eliminate manual labor from manufacturing electronic devices by combining robots and new software. Its software-defined manufacturing platform helps customers innovate faster to meet the growing demands of the Industry 4.0 era of manufacturing. Bright Machines was founded as a spin-off of Flex Ltd. Initially, the company began as a stealth startup under the name AutoLabs AI. The R&D center in Israel develops the software platform.
Latest News
growth-positive
Bright Machines bags $126 million Series C one month after closing Israeli R&D center | CTech
Bright Machines, a robotics company, has raised $126 million in Series C funding, bringing its total amount raised to over $400 million. The funding round was led by BlackRock, with participation from NVIDIA, Microsoft, Eclipse, Jabil, and Shinhan Securities, and included $20 million in venture debt from J.P. Morgan. This announcement comes a month after the company closed its Israeli R&D center, laying off 60 employees and relocating the remaining to San Francisco. The company, which was planning to go public via a SPAC merger at a $1.6 billion valuation in 2021, currently employs around 120 people.
InvestmentLayoffsPublic Trading
Growth-Negative
Bright Machines closing Israel R&D center | CTech
Bright Machines is shutting down its development center in Israel and laying off about 60 employees. Eight of the employees will be relocated to the companys center in San Francisco. The companys Israeli CEO and founder, Lior Susan, stated that the move is aimed at improving efficiency and speed, and to develop closer to their overseas customers. Bright Machines, established in May 2018, develops software-based autonomous production lines for industry. The company had previously planned to go public via a SPAC merger at a $1.6 billion valuation in 2021, but the deal fell through due to market conditions.
LayoffsManagement Changes
growth-positive
Manufacturing firm Bright Machines raises $132M after unfulfilled SPAC deal
Bright Machines, a Bay Area-based manufacturing firm, has raised $132 million in a funding round led by Eclipse Ventures. The round includes $100 million in equity funding and $32 million in debt. This brings the total funding raised by the company to $330 million since its founding in 2018. Bright Machines specializes in the concept of micro factories that rely on robotics and automation. The funding will be used to accelerate the companys roadmap. The investment comes as the U.S. government is focusing on reinvigorating domestic manufacturing, and companies like Intel are investing in geographic semiconductor production.
Investment
growth-negative
Bright Machines lays off 30 employees in Israel CTech
Bright Machines, a technology company, has laid off 30 employees at its R&D center in Israel, which accounts for around 8% of its workforce. The company, which develops software-defined autonomous manufacturing lines, has raised a total of $280 million in funding and has orders from Fortune 500 clients. Bright Machines is streamlining its operations and adjusting its structure to meet the markets needs. The company currently employs 400 people worldwide, with 120 of them in Israel.
Layoffs
Funding
| Total funding | Undisclosed |
| Last funding | Undisclosed |
| Stage | Pre-Funding |
| Rounds | 0 |
| Investors | 0 |
Team Members
3
Employees: 51-200
Web & Social Links
| Website | www.brightmachines.com |
Locations
Migdal HaEmek, Israel
Tel Aviv-Yafo, Israel
Photos & Videos
No files yet
