The founders we are seeing are not coming out of boot camps – they have incredibly specialized disciplines and domain knowledge
San Francisco, California (PRWEB)
September 12, 2017
Seasoned hardware executives Jennifer Gill Roberts and Kelly Coyne of Grit Labs today announced that they will be merging their respective companies (Grit Labs, a seed-stage investment vehicle, and Pitch, a Go-To-Market firm) and raising a $30M dollar fund to invest and shepherd groundbreaking AI and robotics companies through the often tumultuous journey from prototype to launch. Focused on providing entrepreneurs with both seed-funding and go-to-market strategy guidance, Roberts and Coyne plan to expand the existing Grit Labs portfolio.
Grit’s early investments focused on AI and Robotics categories, ranging from consumer products to construction logistics with Rhumbix (an investment shared by Greylock, among others) and the recently acquired Moxxly. The new fund will focus on B2B robotics, powered by recent developments in artificial intelligence.
The fund is built upon a number of proprietary insights from the two partners, gleaned from a combined 3 decades of invesmtent and a dozen executive roles in deep technology hardware.
“The really unique thing about the time we are in is the fundamental shift in the way we will view engineering talent. The technology needed to build artificial intelligence hardware is extraordinarily advanced and specific. The founders we are seeing are not coming out of boot camps – they have incredibly specialized disciplines and are largely coming from postgraduate programs or from deep within the R&D labs of large companies with the resources to build up these competencies,” says Coyne, “This is why we have focused our sourcing strategy on those two areas – building advisement relationships within large firms as well as creating deep ties to universities and our alma maters, Stanford and Oxford.”
Coyne and Roberts contend that this requirement for specialization will drive an entirely new kind of entrepreneur – one that will require a significant amount of help and insight in regards to commercializing this tech and remaining viable between concept and launch.