Rivian has created its second spinoff company this year, an industrial AI and robotics venture called Mind Robotics. The new company will focus on using industrial AI to reshape how physical world businesses operate. It plans to leverage Rivian’s own operations data as the foundation for a robotics data flywheel, according to the company’s third-quarter shareholder letter.
On an investor call, Rivian CEO RJ Scaringe explained that the company realized it had an opportunity to develop products and robotic solutions to run its manufacturing plants more efficiently. Scaringe will serve as chairman of the board of directors for Mind Robotics, and Rivian is a shareholder in the new venture.
Scaringe expressed great belief in the potential of AI, stating that while AI has already changed business operations through large language models, its potential to change how we operate in the physical world is unimaginably large. He said the creation of Mind Robotics is the result of Rivian’s desire to have direct control and influence over the design and development of advanced AI robotics focused on industrial applications.
Rivian announced it has secured approximately 110 million dollars in external seed capital for Mind Robotics. A trademark application for the company was submitted to the U.S. Patent and Trademark Office. This application lists Eclipse partner Jiten Behl as a signatory and the Eclipse headquarters in Palo Alto as the corporate address.
The launch of Mind Robotics is the second time this year Rivian has created a new standalone company. In March, the company spun out its micromobility division into a startup called Also Inc. That company was funded in part by Eclipse, with additional funding from Greenoaks Capital.
It is unclear if Rivian employees will move over to Mind Robotics, as was the case with the Also spinoff. A Rivian spokesperson declined to provide that information. However, the company hinted at the possibility in its shareholder letter, noting that with its strong bench of technology talent, it has been able to identify additional areas of value to accelerate its mission on a wider scale.
Robotics and industrial AI are currently hot areas for investment. A number of humanoid robotics companies are raising money and trying to ship products, and General Motors is also working on its own robotics and AI division.
Beyond the initial announcement, very little is known about what Mind Robotics will actually do. The company has essentially no digital footprint yet, aside from the trademark application. That application is very broad, stating that Mind Robotics could use the trademark for everything from machinery and vehicles to incubators for eggs.