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Genesis Robotics secures $17.7 million to fully fund LiveDrive development
November 25, 2016

Vancouver, BC: Genesis Robotics, a company founded to create faster, safer robots, announced today that it has secured an additional $17.7 million to fully fund development of its groundbreaking actuator technology – The LiveDrive.

Funds raised will be used to construct a range of actuator sizes and a variety of robots. The LiveDrive technology will demonstrate its applicability for faster, safer, less expensive robots for applications in health, manufacturing and the home.

“As we advance the LiveDrive toward production, we are proving our technology in day-do-day applications and testing materials and manufacturing processes that will improve our cost and performance advantages over every actuator in the market today,” said Michael Gibney, CEO of Genesis Robotics.

Investors in this funding round include Bruce Johnston, Jesse May and Reg Allatt, successful entrepreneurs who built industry-leading, global entities.

Mr. Johnston founded the JH Ranch in California – recognized as one of the finest youth leadership programs in America.

Mr. May co-founded and led Chandler/May Inc. before selling the company to Lockheed Martin in 2012. Chandler/May makes integrated mission critical systems for unmanned aerial systems (UAS) and Command, Control, Communications, Computers, Intelligence, Surveillance, Reconnaissance (C4ISR) missions.

Mr. Allatt co-founded etfs, a leading Canadian provider of health and travel insurance products and services, and its subsidiary Global Excel Management Inc., a provider of cost containment, case management and claims adjudication services. In 2011, etfs was sold to Royal and Sun Alliance Canada. Global Excel remains independent.

“I am very pleased to increase my investment and ownership position in Genesis Robotics,” said Mr. May. “The LiveDrive actuator is the key to building robots that can work quickly and safely, side by side, with people.”

Added Mr. Allatt: “As an early investor in Genesis Robotics and longtime entrepreneur, I am very excited by the dramatic advancements of the LiveDrive development program under the direction of Chief Technology Officer James Klassen. I look forward to supporting Genesis as it works toward realizing the LiveDrive’s transformative potential for the robotics industry.”
Genesis Robotics has raised more than $28 million in angel capital. Mr. Gibney provided the company’s start-up funding through Genesis Advanced Technologies.