Sanctuary AI’s Phoenix^TM  is the world’s first humanoid general-purpose robot powered by Carbon^TM, a unique artificial intelligence (AI) control system giving the robot human-like intelligence and enabling it to perform a wide variety of tasks. Carbon AI mimics the subsystems found in the human brain, giving Phoenix an advanced human-like range of motion, visual perception and tactile sensing, including industry-leading hands with fine dexterity.

“Intelligent embodied systems or general-purpose robots will play an important role in provincial and national productivity. We believe that Canada has an opportunity to be a world leader in this space. It is great to work with organizations like BDC and InBC who understand and share this vision.”  

—  Olivia Norton, Co-founder, CTO & CPO, Sanctuary AI

Trained and remotely piloted or supervised by humans, Sanctuary’s robots are designed to work alongside people. In addition to addressing labour shortages, they are taking on tasks that are unpleasant or dangerous for humans, enabling work to be completed from anywhere and helping teams to work more safely, efficiently and sustainably. The technology also has potential to create new jobs beyond the limits of human physiology, as well as provide opportunities to those less capable of physical work.  

Industries have begun using the technology to improve operations and employee satisfaction. Last year, Sanctuary carried out two pilots in Canadian Tire owned retail stores in B.C.; the first of their kind in a commercial setting, the pilots were designed to alleviate monotonous tasks and free employees up for more valuable work such as customer service. This year, Canadian automotive supply company Magna will begin piloting the robots in its manufacturing facilities. Microsoft is also collaborating with Sanctuary AI on AI research and development.   

InBC invested in Sanctuary AI alongside other investors including lead investor BDC’s Thrive Venture Fund. With this financing, Sanctuary AI will continue advancing its commercial scale, research and development, and adding to its team in Vancouver including positions in AI, robotics, science, engineering, design and operations. 

In addition to the potential for financial returns, this investment aligns with InBC’s impact objective to innovate for the future and is supporting job growth and anchoring intellectual property (IP) in B.C.  

See InBC’s portfolio

Get to know Sanctuary AI at Startupfest, Montreal, July 10-12 

At this year’s Startupfest, InBC’s Chief Investment Officer Leah Nguyen will be interviewing Sanctuary AI’s Co-Founder, Chief Technology Officer and Chief Product Officer Olivia Norton for BDC’s Women in Tech Bootcamp. Join us for an engaging discussion as Olivia shares her journey as a co-founder and pioneer of humanoid robots, how Sanctuary AI is solving problems and what she sees as the future of robotics and AI.  

Get your ticket 

The post InBC Invests in Robotics Company Sanctuary AI  appeared first on InBC Investment Corp.

To continue growing our investing capacity and the number of investors in the province, we have also invested into additional venture funds. These funds are committed to investing in B.C.-based companies and specialize in specific sectors to support companies across various stages of growth in their respective industries.

4AG Robotics

InBC has invested $4 million into 4AG Robotics, an agritech company which develops and builds leading robotics solutions for agriculture producers to grow sustainably. 4AG’s harvesting robot is helping mushroom farmers to improve their yields and increase operational efficiencies, while addressing labour challenges and reducing food waste in the agriculture sector. Learn more

Clarius Mobile Health

InBC has invested $5 million into Clarius Mobile Health Corp., producers of wireless handheld ultrasound scanners enabling healthcare practitioners to manage and perform exams from anywhere. Clarius is improving patient outcomes and accessibility to care with scanners that are affordable, ultra-portable and using artificial intelligence to deliver accurate and high-definition imaging. Learn more

Amplitude Ventures

InBC has invested $10 million into Amplitude Ventures Fund II, a venture fund that will invest in life sciences and biotechnology companies, bringing healthcare innovations to market to help improve the lives of patients. Amplitude’s Fund II will invest in early-stage companies in the areas of high-value therapies, medical technology, and artificial intelligence and machine learning. Learn more

Pender Ventures

InBC has invested $10 million into the Pender Technology Inflection Fund II, a venture fund investing in healthtech and B2B technology startups to drive efficiencies and improve clinical decision-making, patient outcomes and healthcare operations. Pender’s Fund II is focusing on companies at the growth stages between commercialization and scale up. Learn more

InBC’s investments are working in parallel with the province’s Stronger BC Economic Plan to accomplish inclusive and clean growth over the long term, including the strategic growth of sectors playing a significant role in the B.C. economy, such as agritech, life sciences and biomanufacturing. These investments are driving innovation, creating quality jobs, increasing research and development spend, and retaining intellectual property in the province.

We are currently investing in growing, innovative companies looking for an equity investment. Are you a company fundraising a Series A or later round? Consider InBC as an investor by learning more and expressing your interest here.

Read the press release

The post InBC Announces New Investments into B.C.-based Companies appeared first on InBC Investment Corp.