12/17/2024
Business

Roomba Co-Founder Colin Angle Returns with $30M Health-Focused Home Robotics Venture

Colin Angle, the co-founder of iRobot and creator of the Roomba, is making a bold return to the home robotics space with his new company, Familiar Machines & Magic. The Boston-based startup, which aims to develop health- and wellness-focused home robots, has already raised $15 million of a planned $30 million funding round, according to an SEC filing.

A New Vision for Home Robots

While details remain scarce, Familiar Machines plans to pioneer human-robot interaction through AI-driven robotics. Angle and his co-founders — former iRobot CTO Chris Jones and robotics veteran Ira Renfrew — are setting their sights on a new category of robots focused on well-being and companionship, including AI-powered robotic “pets.”

“We are pioneering an exciting new category of home robot in the health and wellness space with a significant focus on human-robot interaction,” reads a Familiar Machines job post. The company highlights embodied AI and agentic AI as key components of its product vision.

The startup has yet to unveil its product or website, but investor interest is already strong. Boston-based VC firm Data Point Capital lists Familiar Machines among its portfolio companies.

A Tough Market to Crack

Familiar Machines enters a space littered with the remains of failed companion robots, despite growing interest in AI-driven personal robotics:

  • Bosch-backed Mayfield Robotics shuttered its Kuri robot project in 2018.
  • Tabletop robot maker Jibo ceased operations the same year.
  • Viral robotics startup Anki, known for its Cozmo robot, collapsed in 2019.
  • More recently, Moxie, which developed AI robots for kids, shut down operations abruptly.

These failures highlight the challenge of building scalable, affordable, and practical robots for consumer markets.

However, tech giants like Amazon and Apple remain bullish. Amazon continues to refine its Astro home robot, and Apple is reportedly working on home robotics concepts.

Colin Angle’s Home Robotics Track Record

Angle’s new venture comes just months after he stepped down as CEO of iRobot. His departure followed Amazon’s failed acquisition of iRobot due to regulatory hurdles, a blow that led to significant layoffs at the company.

Angle is no stranger to ambitious home robotics projects. In the early 2000s, iRobot explored home companion robots with a prototype called Grommet, though it never made it to market.

Now, with advancements in AI, machine learning, and consumer interest in health and wellness, Familiar Machines hopes to capitalize on a market projected to grow to $24.5 billion by 2028 (Markets and Markets).

What’s Next for Familiar Machines?

The startup is actively hiring AI researchers and software engineers, signaling that development is ramping up. With Colin Angle at the helm and a strong founding team, Familiar Machines aims to create robots that address human needs through advanced AI, moving beyond cleaning tasks to offer emotional and practical support in daily life.

The next few years will determine if Familiar Machines can succeed where others stumbled, carving out a niche in a challenging yet potentially lucrative market.

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