TNB Tech Minute: Rivian CEO’s Robotics Startup Raises $400 Million

3 min

•May 13, 202617 days ago

Summary

The WSJ Tech News Briefing covers three major tech industry developments: Mind Robotics, a startup founded by Rivian CEO RJ Skaringe, raised $400 million bringing total funding to $1 billion for industrial robot manufacturing; Meta introduced incognito chat features for its AI models to address privacy concerns; and Netflix secured a multi-year NFL broadcasting deal to expand live sports content.

Insights

Industrial robotics is attracting significant venture capital as manufacturers seek intelligent automation solutions for production efficiency
Privacy concerns around AI chatbots are driving major tech companies to implement user-protective features like encrypted, non-accessible conversations
Streaming platforms are pivoting toward live sports as a core strategy to attract premium advertisers and reduce subscriber churn
Automotive executives are diversifying into adjacent manufacturing sectors, using their industry expertise to build standalone technology companies

Trends

Intelligent manufacturing and industrial robotics gaining momentum as key industry investment focusAI privacy and data protection becoming competitive differentiator for consumer-facing AI productsLive sports content becoming essential for streaming platform growth and advertiser relationshipsCross-sector robot deployment expanding beyond automotive to broader manufacturing industriesExecutive-led spinouts leveraging parent company relationships for market entry and partnerships

Topics

Industrial Robotics and Automation AI Privacy and Data Protection Venture Capital Funding Rounds Live Sports Streaming Rights Manufacturing Technology AI Chatbot Privacy Features Streaming Platform Strategy Vehicle Production Automation

Companies

Mind Robotics

Startup founded by Rivian CEO raised $400M, valued at $3.4B, developing industrial robots for manufacturing

Rivian

EV manufacturer partnering with Mind Robotics to deploy hundreds of smart robots in Normal, Illinois factory

Meta

Introduced incognito chat mode for AI models to address privacy concerns, rolling out to WhatsApp and Meta AI app

Netflix

Secured four-year NFL broadcasting deal including opening week, Thanksgiving Eve, and season-end games

National Football League

Partnered with Netflix for multi-year broadcasting agreement covering select games and expanded coverage

Meta-owned messaging platform receiving incognito chat feature for AI conversations in coming months

People

RJ Skaringe

Founded Mind Robotics startup that raised $400M for industrial robot development and manufacturing

Julie Chang

Presented the TNB Tech Minute briefing covering three major tech industry developments

Quotes

"Mind Robotics, a startup founded late last year by Rivian CEO RJ Skaringe, raised $400 million from investors today. That brings its total funding to over $1 billion."

Julie Chang•~1:30

"The startup is developing industrial robots for vehicle production and more. It's currently partnering with Rivian to deploy hundreds of smart robots in the CarMaker's factory in Normal, Illinois."

Julie Chang•~1:45

"One of the main concerns around the rise of AI chatbots has been privacy, or how much an AI bot's knowledge about its user is visible to its corporate developer."

Julie Chang•~2:30

Full Transcript

Access to affordable credit helps me pay my employees, but I don't really need it. Inflation is killing me! But who cares? Big retailers are making record profits! That's why we support the Durbin Marshall credit card bill! See? Banks and credit unions help small businesses make payroll. This bill would cut the vital resources they need. While increasing megastore profits! They deserve it, don't they? Tell Congress, stop the Durbin Marshall money grab for corporate megastores. Paid for by the Electronic Payments Coalition. Here's your afternoon TNB Tech Minute for Wednesday, May 13th. I'm Julie Chang for The Wall Street Journal. Mind Robotics, a startup founded late last year by Rivian CEO RJ Skaringe, raised $400 million from investors today. That brings its total funding to over $1 billion. The startup is developing industrial robots for vehicle production and more. It's currently partnering with Rivian to deploy hundreds of smart robots in the CarMaker's factory in Normal, Illinois. It aims to eventually become a supplier to broader manufacturing sectors. The investment marks a broader industry trend toward intelligent manufacturing machines. A person familiar with the deal structure says the latest round of funding values Mind Robotics at $3.4 billion. Meta has introduced a new incognito chat option for its AI model The company says messages exchanged in this mode are temporary and are processed in a secure environment that Meta cannot access Meta says this incognito mode is coming to WhatsApp and the Meta AI app over the coming months. One of the main concerns around the rise of AI chatbots has been privacy, or how much an AI bot's knowledge about its user is visible to its corporate developer. And Netflix has secured a deal with the National Football League. The new four-year agreement will give the streamer rights to carry an opening week international game, a new Thanksgiving Eve game, and a game at the end of the season. They also extended their current deal for at least one Christmas Day game. Previously, Netflix carried games only on Christmas. The streaming giant has been eager to add more live sports to its platform as a way to attract major advertisers and keep subscribers on board. And that's your TMB Tech Minutes. Check back in the morning for another quick tech update. How are the U.S. businesses of Philip Morris International invested in America? We're invested in advancing science, giving adults who smoke better options. We're invested in American manufacturing, helping local economies thrive. We're invested in community, supporting military veterans and their families, disaster relief, and economic empowerment. Because we're proud to be invested in America. See how at USPMI.com.