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Colin Angle, co-founder of iRobot, is seeking funding for a new home robotics venture. Familiar Machines & Magic, the new company led by Angle, aims to raise $30 million, with $15 million already secured from eight investors.
Although the backers remain undisclosed in the SEC filing, Data Point Capital includes Familiar Machines in its portfolio companies. Based in Boston with plans to expand to Los Angeles, Familiar Machines is set to develop a home robot focused on health and wellness, with former iRobot CTO Chris Jones and iRobot alumnus Ira Renfrew as co-founders.
The company is exploring robots as companions, potentially including AI-powered “furry pets,” and is actively hiring AI researchers and software engineers. With a strong focus on human-robot interaction, Familiar Machines is pioneering a new category of home robot for the health and wellness space.
Angle’s previous experience in home robots dates back to the early 2000s when iRobot developed the prototype home companion robot Grommet. Despite past failures in the home robotics market, tech giants like Amazon and Apple are still exploring opportunities in this space.
The market for household robots is projected to reach $24.5 billion by 2028, with around 1,500 robotics startups raising approximately $90 billion since 2019. The potential for growth in the home robotics sector continues to attract interest and investment from major players in the tech industry.
