Nomagic, a fast-growing Polish startup, has secured$44 million in funding to develop its robotic arms used in logistics operations like picking, packing, and moving. The company plans to use this investment to expand its technology and business, aiming to sell its robots in North America. Nomagic's technology, which uses AI and automation software, has already gained significant traction in industries like e-commerce and pharmaceuticals, with a 220% growth in annual recurring revenue last year.

The funding round, led by the European Bank for Reconstruction and Development (EBRD), highlights the growing importance of robotics in rebuilding industrial competitiveness in Europe. Nomagic's approach focuses on software rather than hardware, enabling its robotic arms to perform across various use cases with ease. This strategy sets it apart from other robotics companies and positions it to capitalise on the increasing demand for automation.

Nomagic's competitors, such as Covariant, are also seeing success in the field, with Amazon hiring Covariant's founders and licensing its technology. Industry leaders like Nvidia and SoftBank are also investing in robotic technology, underscoring the potential of this growing market. With government backing and increasing private investment, robotics is playing a key role in modernising logistics and manufacturing industries.