January 29, 2015 2:39 PM ET

Electronic Equipment, Instruments and Components

Company Overview of Rethink Robotics, Inc.

Company Overview

Rethink Robotics, Inc. develops and produces industrial robots that help businesses in manufacturing, automation, and outsourcing applications. The company was formerly known as Heartland Robotics, Inc. and changed its name to Rethink Robotics, Inc. in June 2012. Rethink Robotics, Inc. was founded in 2008 and is based in Boston, Massachusetts.

27-43 Wormwood Street

Boston, MA 02210

United States

Founded in 2008

Phone:

617-500-2487

Fax:

617-812-0448

Key Executives for Rethink Robotics, Inc.

Chief Executive Officer and President
Founder
Age: 59
Co-Founder and Vice President of Administration & HR
Vice President of Manufacturing and Operations
Vice President of Product Development
Compensation as of Fiscal Year 2014.

Rethink Robotics, Inc. Key Developments

Rethink Robotics Introduces Industry-First Robot Positioning System

Rethink Robotics announced the availability of its new Robot Positioning System, a groundbreaking technology that will allow the Baxter collaborative robot to manage and adapt to ever-changing, real-world environments. As part of Intera 3.1, Rethink Robotics' latest software upgrade, the Robot Positioning System helps users to more quickly and easily re-deploy the robot after common plant-floor variations occur, such as tables being bumped, fixtures being moved, and more. This disruptive technology enables Baxter to switch between tasks without retraining by using environmental markers, called Landmarks(TM), in conjunction with its existing, embedded vision system. The robot is now able to recognize the original locations of the markers, and, when those locations change slightly, can mark the new locations and adjust its movements accordingly. By accounting for and adapting to common variability on the plant floor, Rethink Robotics is making it easier for manufacturers to deploy Baxter across multiple applications. One of the first customers to utilize the new technology, Praxis Packaging Solutions meets the diverse packaging demands for a wide variety of customers on a 24x7 basis. One of the defining characteristics of the Praxis production lines is rapid reconfiguration. Baxter provides flexible automated labor to meet those demands. Rethink Robotics' latest software release, Intera 3.1 strategically leverages multiple advantages of the Baxter robot, including smart software, multiple sensors and embedded vision. Through software upgrades, the company can deliver continuous innovation quickly and frequently, adding ever-increasing value to the inexpensive robot and further representing a game-changing approach to automation in manufacturing. The more a robot can do on its own, the less users have to do when redeploying it on a new task. And as the software advances, Baxter's capabilities will continue to expand, again applying the power of software to enhance performance and ability.

Rethink Robotics Inks Robotshop, Inc, Teq, Inc. and Gaitech International as New Distributors to Deliver the Baxter Research Robot

Rethink Robotics has partnered with three new distributors to deliver the Baxter Research Robot to more universities, schools and corporate R&D labs worldwide. RobotShop, Teq and Gaitech International are the newest additions to Rethink Robotics' roster of distributors. With users in more than 18 countries across five continents, the Baxter Research Robot is shaping the future of robotics, developing real-world applications in manufacturing, healthcare, education and everyday life. These applications are also preparing the next-generation workforce to thrive in jobs that will inevitably demand skills grounded in robotics and technology.

Rethink Robotics Introduces Intera 3, Upgrade to Advanced Software Platform

Rethink Robotics announced Intera 3, a major upgrade to its advanced software platform. With Intera 3, the company doubles the performance and expands the abilities of Baxter, one of the first human-safe robots. The company's latest software makes Baxter work twice as fast, with twice the precision previously possible. Intera 3 demonstrates the power of software to deliver continuous innovation more quickly and frequently, adding ever-increasing value to company's inexpensive robot. It represents a approach to automation in manufacturing--moving robotics from fixed to flexible--with software-driven robots that adapt and evolve. As the software advances, Baxter's capabilities will continue to expand, even as the physical robot remains the same--debunking the age-old idea that hardware improvements are required to enhance performance and ability. With Intera 3, Baxter's skill set immediately expands to a broader range of applications, including: Tending to machines such as CNC lathes, ultrasonic welders and press brakes; Packing and unpacking of parts and components; Line loading and unloading; Kitting. The software will be available for all existing Baxters, and all new production beginning in mid-July.

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