TLDR:
- Sanctuary AI receives strategic financing from BDC Capital and InBC
- Total investment in Sanctuary to date exceeds $140 million
Sanctuary AI, a company focused on creating human-like intelligence in general-purpose robots, has secured a strategic investment from BDC Capital’s Thrive Venture Fund and InBC Investment Corp. The total investment in Sanctuary now surpasses $140 million. The additional funds will be utilized to expedite Sanctuary’s advancement in bringing AI into the physical world.
The company’s existing investors include prominent names like Accenture, Bell, and Verizon Ventures. Sanctuary AI received a $30 million Strategic Innovation Fund contribution from the Government of Canada in 2022. The Co-founder and CTPO of Sanctuary AI, Olivia Norton, emphasized the significance of AI in the physical world and its potential impact on productivity. BDC Capital and InBC both share the vision of Canada becoming a global leader in the AI space.
Michelle Scarborough, Managing Partner at BDC Capital, expressed excitement about supporting Sanctuary AI as they strive towards groundbreaking achievements. InBC’s Chief Investment Officer, Leah Nguyen, highlighted Sanctuary as a beacon of innovation in British Columbia, aiming to bolster the technology sector and create new job opportunities for sustainable economic growth. Olivia Norton is set to speak at BDC’s Women in Tech Bootcamp at StartupFest in Montreal on the theme of ”Solving hard problems.”
Founded in 2018, Sanctuary AI is based in Vancouver and is focused on developing general-purpose robots with human-like intelligence to enhance work efficiency and safety. The company’s team comprises industry veterans with experience at major tech companies, ensuring the successful commercialization of groundbreaking innovations. BDC Capital and InBC play vital roles in supporting Sanctuary AI on its mission to revolutionize the robotics industry and position Canada as a leader in AI technology.
