Editor’s Note: Robotics Business Review’s coverage emphasizes innovation, including start-up companies (or ‘young’ companies). RBR “Start-Up Profiles” highlight individual start-up companies using a consistent, templated format that makes for quick, yet informed reading, that also simplifies comparative analysis.
Flexiv – Company Profile
|Country:||USA||# of Employees:||100|
Founders – Shiquan Wang (CEO), Xiyang Yeh (CTO), Shuyun Chung (Chief Robotics Scientist)
Funding Status – Series A+, with over US $22M funding amount in total
Flexiv provides a one-stop solution so that their customers can upgrade existing, low-flexibility automated production lines.
Flexiv – Offerings Profile
Primary Target Markets – Manufacturing, Logistics, Medical
Technology / Product / Service(s) – Flexiv develops and manufacturers the Rizon adaptive robot which incorporates leading edge, industrial strength force control, along with computer vision and AI technologies. The company provides innovative turnkey solutions and services based on Flexiv robotic systems to customers in a variety of industries.
Value Proposition – Flexiv’s value proposition includes the following:
- Powerful Flexibility and Universality – Flexiv’s systems replace manual work that is difficult to automate, providing a more flexible solution while lowering costs.
- Integrated, Turnkey Solutions – Flexiv provides a one-stop solution so that their customers can upgrade existing, low-flexibility automated production lines.
- Advanced Technology – Flexiv’s solutions exploit the company’s advanced force and torque control technology, as well as applicable AI technologies.
Demand Drivers – Demand drivers for Felxiv’s solutions include:
- Continued and growing demand for automating tasks relying on manual work, along with the challenge of achieving high quality consistently and increasing efficiency.
- The limited levels of flexibility and universality found in existing robotics solutions.
- Requirement to provide human-centered technology that make people’s work and life more creative and enjoyable.
Flexiv’s solutions exploit the company’s advanced force and torque control technology, as well as applicable AI technologies.
Flexiv – Business Model(s) and Competition
Business Model – Flexiv provides one-stop, end-to-end solutions to their customers directly. Flexiv partners with with key integrators and laboratories.
Customers – Flexiv has several customers, among which there are top players in their respective industries. However, according to NDA, we cannot disclose their names at this time.
Competitive Landscape – Flexiv are competing with companies that produce and sell collaborative robots such as KUKA, Universal Robots, Franka Emika, ROKAE, etc. But Flexiv provides the both adaptive robot and solutions based on it, instead of just the cobots themselves, which distinguishes the company from other cobot suppliers.
In most cases, Flexiv solutions are automating tasks that have not been previously roboticized, replacing manual applications that are difficult to automate, and typically without direct competition. Flexiv employs a different business models from other cobot suppliers, further reducing competition.
Flexiv – Recent News
- Flexiv Launches the 100th Adaptive Robot
- Flexiv Demonstrates Adaptive Robotics Technologies and Applications at CIIF 2020
- Flexiv Wins the IF DESIGN AWARD 2020
- Collaborative Robots and Lean Integrators Bring Automation to Small and Medium-Size Enterprises
- China Source of 50% of Collaborative Robotics Shipments by 2023
- Veo Robotics’ FreeMove Turns Any Industrial Robot Arm Into a Collaborative Robot
- Yaskawa Motoman Releases the HC20XP, the First Food-grade Collaborative Robot
- Universal Robots Launching America’s Largest Virtual Cobot Expo