Ready Robust Machine raises $9.4M Series B for hydraulic hybrid heavy equipment
What's the deal? Ready Robust Machine, a South Korean energy recovery hardware startup, has raised US$11.2M (roughly $9.4 million) in a Series B round. Quantum Ventures KoreaDealroom has a profile for this one. Try Dealroom → led, with Korea Development BankDealroom has a profile for this one. Try Dealroom → and US-based Strong VenturesDealroom has a profile for this one. Try Dealroom → joining as follow-on investors. Samchully InvestmentDealroom has a profile for this one. Try Dealroom →, Ubiquitous Investment, K-Run VenturesDealroom has a profile for this one. Try Dealroom →, and SGC Investment came on as new shareholders.
What's the endgame? The company builds an energy recovery solution called READi X for hydraulic heavy equipment. It plans to use the funding to scale production, expand a nationwide installation and maintenance network, and push into overseas markets, starting with Japan.
Why now? Ready Robust Machine has validated its technology at industrial sites. At Hyundai SteelDealroom has a profile for this one. Try Dealroom →'s Incheon plant, a 30-ton excavator showed up to 36% fuel efficiency gains; a 50-ton unit at its Dangjin plant recorded up to 19.4%. In Japan, tests on Shin-eiDealroom has a profile for this one. Try Dealroom → and SumitomoDealroom has a profile for this one. Try Dealroom → excavators showed average improvements above 16%.
The round marks a clear step-up for the company, which took its cumulative funding to US$19.2M — an unusual haul for a hardware-based deep tech startup. First-half revenue this year has already passed all of last year's total, with an order backlog above US$1.68M.
What's the money for? Beyond production and its READi X excavators, the company will build out a farm-equipment energy recovery system called READi T and advance a "Zero Downtime" service that uses operating data to predict failures across tractors and cranes. It also plans to launch a plug-in hybrid large excavator this year that can run over 10 hours on a single charge.
Quantum Ventures Korea director Yoo Jong-hyun said the firm "highly valued its potential for future expansion into the field of heavy equipment robotics," citing its software as well as hardware strengths.
The signal: With follow-on backing from Korea Development Bank and continued support from its Series A lead, Ready Robust Machine shows how a deep tech hardware firm can pair technical validation with revenue growth — and attract capital in a sector where that combination is rare.
Read more: VentureSquare
Image credit: ResoluteSupportMedia
