This tech CEO reveals how he secured SoftBank funding by selling a simple but bold vision
- Brain Corp secured funding from Japanese mega fund SoftBank in 2017 thanks to its grand, but simple vision for the future of robotics.
- Cofounder and CEO Eugene Izhikevich says he wants to build machines that can take care of humans - and it resonated with SoftBank CEO Masayoshi Son.
- Speaking to Business Insider, Izhikevich said robots can be as big as the internet and that his company may one day be compared to Microsoft.
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It's often said that startups need to dream big to be successful. Uber did not sell itself as another taxi firm, it wanted to kill the car and make the planet greener. Facebook was not just another way to chat with friends and family, it wanted to connect the world.
Brain Corp, an AI firm that turns everyday machines into autonomous robots, has equally grand ambitions. And it's a big reason why the San Diego-based startup was able to secure funding from SoftBank as part of a $114 million series C raise in 2017.
To this end, Brain Corp does not just build robots that clean floors (around 2,000 of its machines can be found keeping Walmart stores spotless). The company builds robots that take care of humans.
Eugene Izhikevich, the cofounder and CEO of Brain Corp, explains: "My strategy for raising money from investors is very simple, I share my vision with them. I share with them my view of the future, where robots are taking care of us and making our lives better, easier, happier."
This was the vision Izhikevich sold to SoftBank - and it just so happened to resonate with the mega fund's CEO Masayoshi Son. "It turns out he had the same vision before me. So when I met him, it was like meeting my biggest soulmate," he tells Business Insider.
Izhikevich thinks robots can be as big as the internet. "I would even compare the impact of robotics to the impact of the world wide web. With the world wide web, you can touch any piece of information in the world; with robots, you can touch any physical object in the world," he says.
Izhikevich refers to a 2018 World Economic Forum study which estimates there will be nearly twice as many jobs created due to automation as lost to it.
"Imagine how AI and robotics can change our lives for the better. If we can touch any physical object in the world, we can create tools to help us to have more fulfilling lives," he continues.
"Think of automation and AI as giving tools to people who build houses. Think of automation and AI as augmenting people, not replacing them. Automation makes people's jobs more efficient and more productive. I wouldn't be running Brain Corp if I didn't think automation was a force for good in society."
And of course, Izhikevich says thinking big is good for business. He believes Brain Corp can be one of the biggest companies in the world, potentially on a level with the likes of Microsoft.
"I explain to my investors that my focus is on making Brain Corp the biggest robotics company which is 100% a software company, just as Microsoft was the biggest PC company which is 100% a software company, or Qualcomm right now is the biggest cellphone company which is an enabling technology company."