New Obama tech firm builds $100M in robotics research, sales
By Brian Fung and Aaron Blake/BloombergThe Obama administration has secured a $100 million investment from MIT Technology Review to build and operate a robotics research and development center.
The announcement, which was made Friday, also includes the opening of the new center, which will be called the Mitchell Institute of Industrial Robotics.
The center will offer advanced industrial robots for manufacturing, logistics, and other services.
It will include a $20 million grant to the MIT Technology Council to support research in robotics and robotics-related technology.
The company behind the investment, Mitchell Technologies, said in a statement the center would support the “growth of MIT Technology’s robotics research” and support its research efforts with new partnerships and partnerships with industry partners.
The new MIT Technology Institute has an annual budget of $100.5 million and employs 1,000 employees.
Mitchell is a subsidiary of the MIT Media Lab.