Rivian creates another spinoff company called Mind Robotics

Rivian has created its second spinoff firm this yr: an industrial AI and robotics enterprise known as Thoughts Robotics.

The brand new effort will probably be targeted round utilizing “industrial AI to reshape how bodily world companies function and leverage Rivian operations knowledge as the muse for a robotics knowledge flywheel,” in accordance with a the corporate’s third-quarter shareholder letter printed Tuesday. (That’s a mouthful of buzzwords; we’ve requested Rivian to make clear issues a bit extra and can replace the put up if it does.)

Rivian stated Tuesday it has secured round $110 million in “exterior seed capital,” however didn’t instantly provide every other details about Thoughts Robotics. “We consider AI-enabled robotics can help a variety of business functions,” Rivian wrote within the letter. CEO RJ Scaringe will function chairman of the board of administrators for Thoughts Robotics, in accordance with a filing.

The launch of Thoughts Robotics marks the second time this yr that Rivian has created a brand new standalone firm. In March, the company spun out its skunkworks micromobility division right into a startup known as Additionally Inc. That new firm was funded partly by cash from Eclipse, with additional funding from Greenoaks Capital.

A trademark application for Thoughts Robotics was submitted to the U.S. Patent and Trademark Workplace on Monday that lists Eclipse associate Jiten Behl as a signatory for the newly-created firm, together with Eclipse’s Palo Alto headquarters as the company tackle. Behl didn’t instantly reply to a request for remark.

It’s unclear if Rivian workers are shifting over to Thoughts Robotics, like was the case with Additionally. A Rivian spokesperson declined to say. However the firm hinted on the chance in Tuesday’s letter.

“With our sturdy bench of expertise expertise and an innovation-driven tradition, we’ve got been capable of determine further areas of worth to speed up our mission on a wider scale whereas sustaining Rivian’s focus,” Scaringe wrote

Robotics and industrial AI are sizzling areas for funding proper now. There’s a slew of humanoid robotics companies elevating cash and attempting to ship merchandise, together with Tesla. Basic Motors is working by itself robotics and AI division, too.

Past Rivian’s announcement Tuesday, although, little or no is understood about what Thoughts Robotics will stand up to. There may be primarily no digital footprint for the corporate but, save for the trademark software. That software may be very broadly focused and says Thoughts Robotics might use the trademark for all the things from equipment, to automobiles, to “incubators for eggs.”

This story has been up to date with new info from a regulatory submitting within the third paragraph.