Intuition Robotics Announces Investment from iRobot and OurCrowd, Bringing Total Funding to $6M

RAMAT GAN, Israel, February 14, 2017 /PRNewswire/ --

Intuition Robotics, developer of social companion technologies, today announced funding from strategic investor iRobot Corp. (NASDAQ: IRBT) and equity crowdfunding platform OurCrowd. This investment brings the total funding in the company to $6M USD across various funding instruments. Intuition Robotics will participate in the world's largest equity crowdfunding conference, the 2017 OurCrowd Global Investor Summit on February 16 in Jerusalem, Israel, where the company will conduct the first live demonstration of Elli•Q, an autonomous active aging companion aimed at keeping older adults active and engaged.

The new investors join Terra Venture Partners, who led the Intuition Robotics seed round, as well as other original investors including Bloomberg Beta, Maniv Mobility, and additional private investors. iRobot Ventures is the strategic investment arm of iRobot, the leading global consumer robot company. OurCrowd is the world's leading global equity crowdfunding platform for accredited investors. Intuition Robotics will open its U.S. Headquarters in Silicon Valley this year to bring on board key talent and start go-to-market operations in the US.

Dor Skuler, CEO and Co-Founder of Intuition Robotics, said, "We are thrilled with the positive market response to Elli•Q, our first product that was announced a few weeks back, and are looking forward to expanding our team in Silicon Valley. We welcome strategic investor iRobot whose vast experience and insights in the consumer robotics market is unmatched. We're also excited that OurCrowd is joining the team and proud to present Elli•Q live for the first time at their Global Investor Summit in front of thousands of investors, potential partners and the media."

"Intuition Robotics' Elli•Q is an exciting advancement in cognitive computing and human-robot interaction," said Hanns Anders, Director at iRobot Ventures. "iRobot has been a longtime proponent of the development of robotics technologies to support the world's aging population. The advances being made by Intuition Robotics are critically important to keeping this important population active and engaged."

"We see potential for Intuition Robotics' products to have massive impact on the world's aging population, and proud to support such an innovative company. We're excited to share this investment with our investor base at the Global Investor Summit later this week," said OurCrowd CEO Jon Medved.

About Intuition Robotics  

Intuition Robotics™ is developing social companion technology to positively impact the lives of millions of older adults by connecting them seamlessly with family and friends, making technology accessible and intuitive, and proactively promoting an active lifestyle. The company was founded by former corporate executives and entrepreneurs who previously founded and managed CloudBand, a disruptive cloud telecom venture within Alcatel-Lucent. The founders created Intuition Robotics to pursue their passion for creating technology and products to improve people's quality of life.

The company's multidisciplinary team of roboticists, industrial designers, full stack developers, Android developers, gerontologists, and machine learning experts, is currently developing Elli•Q, the Active Aging Companion. Helping the company achieve its vision are iconic thinkers in the realms of industrial design and user-centered design, including famed designer Yves Béhar, former VP of Advanced Technologies at Apple Prof. Don Norman, along with Intel SVP Amir Faintuch, and leading academic experts in the fields of Cognitive Computing, HRI, Machine Intelligence, and Robotics. For more information, visit http://www.intuitionrobotics.com; http://www.elliq.com, http://www.ourcrowd.com.

SOURCE Intuition Robotics