Clearpath Robotics raises $14 million in venture capital

Clearpath Robotics has raised $14 million in venture capital funding to expand its portfolio of industrial applications. The Kitchener ON-based spinoff from the Univ of Waterloo bills itself as dedicated to automating the world's "dullest, dirtiest and deadliest jobs" that will enable North American firms to onshore manufacturing rather than chase cheap labour. The latest financing is led by RRE Ventures, New York City, with participation by Montreal-based iNovia Capital. Clearpath Robotics was launched in 2009 with a robot for mine detection and removal, and received $360,000 in angel capital in 2010 allowing the company to pivot towards developing unmanned vehicles to help researchers innovate more quickly. The company is now developing robots to automate error-prone and unsafe materials handling, such as industrial driverless cars. It's estimated that robotics in the healthcare, manufacturing and services industries with have an economic impact of between $1.7 trillion and $4.5 trillion annually by 2025….