Latest news with #IndustrialAutomation
Yahoo
3 days ago
- Automotive
- Yahoo
Why Cartken pivoted its focus from last-mile delivery to industrial robots
Autonomous robotics startup Cartken, known for its four-wheeled robots that deliver food on college campuses and through Tokyo's bustling streets, has found a new area of focus: industrials. Cartken co-founder and CEO Christian Bersch told TechCrunch that applying its delivery robots to industrial settings was always in the back of his mind as they built the startup. When companies started reaching out about using their robots in factories and labs, Cartken took a closer look. 'What we found is that actually there's a real big need in industrial and onsite use cases,' said Bersch, who co-founded the startup along with other former Google engineers behind the Bookbot project. 'Sometimes there have even [been] more direct value to companies optimizing their material flows or their production flows.' In 2023, the startup landed its first big industrial customer, German manufacturing company ZF Lifetec. Initially, ZF Lifetec used its existing delivery robots, called the Cartken Courier, which can hold 44 pounds and resembles an Igloo cooler on wheels. 'Our food delivery robot started moving production samples around, and it's quickly turned into our busiest robot of all,' Bersch said. 'That's when we said, hey, there's like real use cases and real market need behind it, and that's when we started targeting that segment more and more.' At the time, Cartken was still pressing ahead on its delivery sidewalk business, including locking in partnerships with Uber Eats and GrubHub for its last-mile delivery operations across U.S. college campuses and in Japan. But that early success with ZF, encouraged the startup founders, which includes Jake Stelman, Jonas Witt and Anjali Naik, to expand its business model. Switching Cartken's robots from food delivery to an industrial setting, wasn't much of a challenge, Bersch said. The AI behind the robots is trained on years of food delivery data and the devices are designed to traverse various terrains and weather conditions. This means the robots can travel between indoor and outdoor settings. And thanks to data collected from delivering food on Tokyo streets, the robots are able to react and maneuver around obstacles. Cartken, which has raised more than $20 million from 468 Capital, Incubate Fund, Vela Partners, and other venture firms, has started to build out its robotic fleet to reflect its pivot to industrials. The company released the Cartken Hauler earlier this year, which is a larger version of the Cartken Courier and can hold up to 660 pounds. The company also released the Cartken Runner, designed for indoor deliveries, and is also working on something similar to a robotic forklift. 'We have a navigation stack that is parameterizable for different robot sizes,' Bersch said. 'All the AI and machine learning and training that went into that is like transferring directly to the other robots.' Cartken recently announced that it was deepening its four-year relationship with Japanese automaker Mitsubishi, which originally helped the company get the needed certifications to operate their delivery robots on the streets of Tokyo. Melco Mobility Solutions, a company under the Mitsubishi umbrella, just announced that it will be buying nearly 100 Cartken Hauler robots for use in Japanese industrial facilities. 'We're definitely seeing a lot of traction across various industrial and corporate sites, from automotive companies to pharmaceutical to chemical,' he said. 'All these companies typically have people moving stuff from one building to another, whether it's being by hand, on a cart ,or a small forklift, and that is really what we're targeting.' Cartken will still continue its food and consumer last-mile delivery business, but it won't be expanding it, Bersch said, adding they still do a lot of testing for new capabilities on these existing last-mile delivery routes. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
TechCrunch
3 days ago
- Automotive
- TechCrunch
Why Cartken pivoted its focus from last-mile delivery to industrial robots
Autonomous robotics startup Cartken, known for its four-wheeled robots that deliver food on college campuses and through Tokyo's bustling streets, has found a new area of focus: industrials. Cartken co-founder and CEO Christian Bersch told TechCrunch that applying its delivery robots to industrial settings was always in the back of his mind as they built the startup. When companies started reaching out about using their robots in factories and labs, Cartken took a closer look. 'What we found is that actually there's a real big need in industrial and onsite use cases,' said Bersch, who co-founded the startup along with other former Google engineers behind the Bookbot project. 'Sometimes there have even [been] more direct value to companies optimizing their material flows or their production flows.' In 2023, the startup landed its first big industrial customer, German manufacturing company ZF Lifetec. Initially, ZF Lifetec used its existing delivery robots, called the Cartken Courier, which can hold 44 pounds and resembles an Igloo cooler on wheels. 'Our food delivery robot started moving production samples around, and it's quickly turned into our busiest robot of all,' Bersch said. 'That's when we said, hey, there's like real use cases and real market need behind it, and that's when we started targeting that segment more and more.' At the time, Cartken was still pressing ahead on its delivery sidewalk business, including locking in partnerships with Uber Eats and GrubHub for its last-mile delivery operations across U.S. college campuses and in Japan. But that early success with ZF, encouraged the startup founders, which includes Jake Stelman, Jonas Witt and Anjali Naik, to expand its business model. Switching Cartken's robots from food delivery to an industrial setting, wasn't much of a challenge, Bersch said. The AI behind the robots is trained on years of food delivery data and the devices are designed to traverse various terrains and weather conditions. Techcrunch event Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise. Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise. San Francisco | REGISTER NOW This means the robots can travel between indoor and outdoor settings. And thanks to data collected from delivering food on Tokyo streets, the robots are able to react and maneuver around obstacles. Image Credits:Cartken Cartken, which has raised more than $20 million from 468 Capital, Incubate Fund, Vela Partners, and other venture firms, has started to build out its robotic fleet to reflect its pivot to industrials. The company released the Cartken Hauler earlier this year, which is a larger version of the Cartken Courier and can hold up to 660 pounds. The company also released the Cartken Runner, designed for indoor deliveries, and is also working on something similar to a robotic forklift. 'We have a navigation stack that is parameterizable for different robot sizes,' Bersch said. 'All the AI and machine learning and training that went into that is like transferring directly to the other robots.' Cartken recently announced that it was deepening its four-year relationship with Japanese automaker Mitsubishi, which originally helped the company get the needed certifications to operate their delivery robots on the streets of Tokyo. Melco Mobility Solutions, a company under the Mitsubishi umbrella, just announced that it will be buying nearly 100 Cartken Hauler robots for use in Japanese industrial facilities. 'We're definitely seeing a lot of traction across various industrial and corporate sites, from automotive companies to pharmaceutical to chemical,' he said. 'All these companies typically have people moving stuff from one building to another, whether it's being by hand, on a cart ,or a small forklift, and that is really what we're targeting.' Cartken will still continue its food and consumer last-mile delivery business, but it won't be expanding it, Bersch said, adding they still do a lot of testing for new capabilities on these existing last-mile delivery routes.
Yahoo
4 days ago
- Business
- Yahoo
Oppenheimer Raises PTC (PTC) Price Target, Maintains Outperform Rating
PTC Inc. (NASDAQ:PTC) is one of the Best Industrial Automation Stocks to Buy for the Next Decade. Oppenheimer has raised its price target on PTC Inc. (NASDAQ:PTC) to $190 from $170, maintaining an Outperform rating on the stock. The upward revision reflects improved market multiples and optimism surrounding PTC's go-to-market (GTM) execution and AI integration plans. Following a recent conversation with PTC's management, Oppenheimer noted that the company's current guidance appears appropriately calibrated to the broader macroeconomic environment. While PTC Inc. (NASDAQ:PTC) remains cautious amid global trade uncertainties, the firm sees a strong foundation for long-term growth. Analysts pointed to steady customer retention, despite a slight uptick in churn. Pricing remains an area with potential upside, as the company adjusts its sales structure and strategy. Oppenheimer believes the ongoing GTM transition will ultimately improve sales productivity and customer acquisition efficiency. PTC has continued investing in its core digital thread technologies, including CAD, PLM, and IIoT platforms, which are increasingly enhanced by AI. These tools are critical for automating product development, manufacturing workflows, and real-time data analysis across industrial sectors. With its customer base concentrated in engineering, automotive, and heavy industry, PTC is positioned to benefit from accelerating demand for smart manufacturing solutions and digital automation. PTC powers industrial automation through software platforms that integrate CAD, IoT, and AI to streamline manufacturing, engineering, and product lifecycle management. While we acknowledge the potential of PTC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Best Non-Mega Cap NASDAQ Stocks to Buy Right Now and 13 Cheap Stocks Under $50 to Buy Now. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
- Yahoo
Barclays Raises Honeywell (HON) Price Target, Maintains Overweight Rating
Honeywell International Inc. (NASDAQ:HON) is one of the Best Industrial Automation Stocks to Buy for the Next Decade. Barclays analyst Julian Mitchell has raised the firm's price target on Honeywell International Inc. (NASDAQ:HON) to $265 from $258, while maintaining an Overweight rating. The adjustment reflects growing confidence in Honeywell's ability to outperform in a mixed macroeconomic environment. Pixabay/Public Domain In a note to clients, Mitchell said the multi-industry group is entering second-quarter earnings with high investor expectations. Despite soft consumer demand, most companies, including Honeywell, are well-positioned to exceed estimates and potentially raise full-year guidance. Still, Barclays noted the sector's recent rally leaves a more balanced risk/reward setup. Honeywell's performance is being buoyed by strong execution across its automation, aerospace, and building technologies segments. The company's focus on high-margin, recurring revenue from digital solutions has added resilience to its earnings profile. Continued investment in industrial software and process control systems has helped expand its presence in data-driven manufacturing and energy efficiency. Honeywell's emphasis on automation is aligned with global trends toward smarter infrastructure and labor-saving technologies. Its portfolio of sensors, industrial controls, and connected platforms plays a crucial role in transforming traditional industrial environments. As Q2 earnings near, investors are watching Honeywell for signals on broader capital spending and industrial demand in the second half of the year. Honeywell delivers industrial automation through sensors, control systems, and software that optimize factory operations, energy use, and infrastructure performance. While we acknowledge the potential of HON as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: Top 10 Healthcare AI Stocks to Buy According to Hedge Funds and 10 Consumer Defensive Stocks to Buy Now. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
4 days ago
- Business
- Yahoo
Stephens Raises Emerson (EMR) Price Target, Maintains Equal Weight Rating
Emerson Electric Company (NYSE:EMR) is one of the Best Industrial Automation Stocks to Buy for the Next Decade. Stephens analyst Tommy Moll has raised the price target on Emerson Electric Company (NYSE:EMR) to $145 from $130, maintaining an Equal Weight rating in anticipation of the company's upcoming second-quarter earnings release. Engineers analyzing a complex network of process control software and systems. In a research note issued to investors, Moll acknowledged lingering concerns surrounding tariff policy and its impact on the electrical equipment and multi-industry sectors. However, he noted that sentiment appears to be improving compared to the first quarter. Key indicators, such as pricing discipline and order trends, are showing resilience. 'Price realization is largely tracking expectations, and underlying demand has proven more stable than initially forecast,' Moll stated. He also pointed out that Emerson's diversified end-market exposure, including energy, process automation, and climate technologies, has helped buffer macroeconomic volatility. Emerson has increasingly positioned itself at the forefront of industrial automation, bolstered by its acquisition of AspenTech and investments in intelligent control systems. These strategic moves reflect the company's broader push into digital transformation initiatives, especially in sectors like chemical processing, manufacturing, and infrastructure. The upward revision comes as investors look for clarity on how global supply chain normalization and evolving trade dynamics will affect capital spending. Emerson is scheduled to report Q2 earnings in early August. Emerson Electric Company (NYSE:EMR) drives industrial automation through advanced control systems, sensors, and software that optimize manufacturing and energy processes across global industries. While we acknowledge the potential of EMR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Best Non-Mega Cap NASDAQ Stocks to Buy Right Now and 13 Cheap Stocks Under $50 to Buy Now. Disclosure: None. This article is originally published at Insider Monkey.
