Sanctuary AI’s board has removed co-founder Geordie Rose as CEO, setting off significant personnel changes. Interim CEO James Wells replaces Rose, while chief marketing officer Benedict Reed resigned, and 30 employees were laid off. The robotics startup, known for its Phoenix humanoid robot, has raised $140 million from investors like Magna and Microsoft.
However, investor concerns loom over Sanctuary’s ability to secure future funding in the competitive robotics sector. Sanctuary competes with global leaders like Tesla and Figure AI, which raised $675M this year. A leadership search is underway as Sanctuary navigates these challenges.
Want to know more? Check out the source code on Techcouver.