Terex buys into robotics company Apptronik
By Mike Brezonick07 February 2023
Terex Corp. announced it has made an equity investment in Apptronik, Inc., an Austin, Texas, company specializing in the development of versatile, mobile robotic systems. No financial details were provided.
Terex has made an equity investment in Apptronik, a developer of robotic systems such as the Valkyrie Robot for the DARPA Robotics Challenge. (Photo: Apptronik)
Separate from the equity investment, the two companies also entered into a co-development agreement to work together to create potential robotic applications for Terex products.
“Multiple trends are converging to drive adoption of human-centered robots in everyday applications and Apptronik is well positioned to capitalize on this emerging trend,” said Terex Chairman and Chief Executive Officer John L. Garrison, Jr.
Apptronik’s co-founders have worked on advanced human-centered systems including the NASA Valkyrie Robot for the DARPA Robotics Challenge.
Other Apptronik projects include Astra, an upper-body humanoid robot packed into a small form, enabling it to be placed on any mobility platform and most recently, Apollo, a NASA-backed versatile humanoid designed to scale and apply to numerous applications.
“We are at an inflection point in the robotics industry where, in just a few years, we expect to see general-purpose robots being adopted at scale across numerous industries,” said Jeff Cardenas, chief executive officer and co-founder of Apptronik.
“We are excited to be working with Terex Corp. as we blaze the trail for the robotics revolution that we anticipate will transform the way we live and work.”
