Robotics is one of the highest-funded tech industries in the Bay Area
There are more than 600 automation and robotics companies with headquarters in the area.
June 22, 2020
Money raised for robotics companies in the Bay Area
- It may be too early to assess the long-term impacts of the COVID-19 pandemic, however, social distancing measures and any semi- or permanent changes to work and lifestyle as a result of such measures could push certain industries to automate more of their operations. Combining the drive for less human-centric operations with the boost in productivity this technology provides, there will likely be greater integration of automation and robotics in areas like manufacturing, supply chain, proptech, and agriculture.
- The Bay Area is home to one of the largest innovation epicenters in the world and automation and robotics has been a major focus in terms of activity, funding, and hiring growth.
- According to Crunchbase, a total of $22.4 billion has been raised for robotics companies since 1993, which is nearly five times the amount of funding compared with funds raised for hardware companies.
- According to JLL data, the total real estate footprint of the top 25 highest-funded automation and robotics companies in the Bay Area is 4.9 million square feet across all property types. Santa Clara has the largest at 2.3 million square feet, mostly because of NVIDIA’s large presence there.
- As these technologies become more present and integrated with society and prevalent industries, demand for real estate in the Bay Area from automation and robotics companies should only increase over time.
- To learn more about automation and robotics and its importance to Bay Area commercial real estate, please click here to view our interactive report