ABB’s venture capital unit invests in artificial intelligence company Vicarious

ABB supporting long term research on vision, language, and motor control for robotics

Zurich, Switzerland, Nov. 6, 2014 – ABB has invested in artificial intelligence research company Vicarious through its venture capital unit ABB Technology Ventures.

Vicarious has been developing a unified algorithmic architecture to achieve human-level intelligence in vision, language and motor control. The San Francisco-based company is focusing on visual perception problems, like recognition, segmentation and scene parsing.

“This partnership is a perfect fit. ABB is a pioneer in the robotics industry, with a global installed base of more 250,000 industrial robots to improve productivity, quality and worker safety, while Vicarious has positioned itself to do the same for AI,” said Girish Nadkarni, Head of ABB Technology Ventures. “Robotics technology has reached the point where it can perform many tasks that are challenging or unsafe for humans. The combination of robots and artificial intelligence offers great opportunities for the future.”

“ABB brings unique expertise in robotics and manufacturing,” said Vicarious co-founder D. Scott Phoenix. “We are in the midst of a remarkable era for robot innovation, with many new applications that could not have been imagined even a few years ago. Vicarious is excited about where this partnership will take us in the years ahead,” added Vicarious co-founder Dr. Dileep George.

Since launching in 2010, Vicarious has raised nearly $70 million from investors including among others Mark Zuckerberg, Jerry Yang, Jeff Bezos and Peter Thiel, in support of the company’s long-term research goals.

ABB (www.abb.com) is a leader in power and automation technologies that enable utility, industry, and transport and infrastructure customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in roughly 100 countries and employs about 145,000 people.

About ABB Technology Ventures

ABB Technology Ventures (ATV) is the corporate venture capital arm of the ABB Group (NYSE: ABB). Headquartered in Zurich, with offices in Silicon Valley and Washington, DC, ATV invests in high-potential energy technology companies that can benefit from ABB’s engineering resources and global market access. Investing since 2010, ATV has deployed over $150 million into a wide range of sectors including cyber security, robotics, smart grid, renewable power generation and data center efficiency. Learn more at abb.com/ventures.

About Vicarious

Vicarious FPC Inc. is an artificial intelligence company that uses the computational principles of the brain to build software that can think and learn like a human. The company was founded in 2010 by Dr. Dileep George and D. Scott Phoenix. Before co-founding Vicarious, Dr. George was Chief Technology Officer at Numeta, a company he co-founded with Jeff Hawkins and Donna Dubinsky (PALM, HAND) while completing his PhD at Stanford University. Previously Mr. Phoenix was Entrepreneur in Residence at Founders Fund and CEO of Frogmetrics, a touchscreen analytics company he co-founded through the Y Combinator incubator program. For more information about Vicarious, please visit www.vicarious.com.



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