Market Overview

Sarcos Robotics Raises $30 Million in Series B Funding

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Sarcos®
Robotics
, a global leader in robotic systems that augment, rather
than replace, humans working in the industrial, public safety and
military sectors, today announced that it has secured $30 million in
Series B funding from a consortium of investors co-led by DIG
Investment
and Alex.
Brown & Sons
. Each of the Company's Series A investors also
participated in this round, including Caterpillar Ventures, Cottonwood
Technology Fund, GE Ventures, Microsoft, Schlumberger and Sarcos'
chairman and CEO, Ben Wolff.

This Series B funding will be used to expand Sarcos' team, scale the
production and deployment of its Guardian
S
mobile IoT inspection and surveillance robot, and prepare for the
launch of the commercial versions of its powered, full-body industrial
exoskeleton Guardian
XO®
product line in late 2019.

"Sarcos is growing rapidly – we've doubled our workforce in the last
year as we realize our vision of delivering robotic systems that
simultaneously reduce the risk of workplace injuries, while also
increasing productivity and efficiency," said Ben Wolff, chairman and
CEO of Sarcos Robotics. "This new funding will allow us to continue to
grow our team, scale our production and deliver our unrivaled products
to customers around the globe to address the unmet global demand for
robotic systems that create the safest, most productive workforce
possible."

Sarcos' powered, full-body exoskeletons augment human productivity and
safety by combining the best of what man and machine have to offer – the
intelligence, intuition and instincts of humans and the strength,
endurance and precision of machines. Sarcos' Guardian
GT system
, the largest in its line of powered exoskeletons systems,
can be custom ordered to meet customers' specific requirements and
needs. The Guardian XO and Guardian XO® Max will be the first
autonomously powered, full-body industrial exoskeletons that materially
increase strength and stamina, allowing workers to work more safely and
more productively than ever before.

In March, Sarcos announced
the formation of an industry-focused Exoskeleton Technical Advisory
Group ("X-TAG") that is comprised of executives from leading companies
across a variety of industries, with the goal of identifying key
performance and safety requirements necessary to bring powered,
full-body industrial exoskeleton systems to the workforce.

Sarcos has also launched its next generation ground-based surveillance
and inspection robot, the Guardian S, that is uniquely capable,
cost-effective and man-portable. The Guardian S has been designed for
wide applicability in industries including manufacturing, construction,
mining, oil & gas, power, aerospace, maritime, petrochemical, mining,
defense and public safety.

"Sarcos represents one of those rare opportunities where an incredibly
talented team with a proven track record has developed an entirely new
category of products that address an enormous global need," said Sanjan
Dhody, managing director at Alex. Brown. "In this case, the need is
driven by the growing shortage of skilled workers and the skyrocketing
social and economic costs associated with workplace injuries. I am very
pleased to have been able to work with Sarcos to bring together a
consortium of prominent investors who are well-positioned to assist
Sarcos with expansion into new industries and new geographic regions."

For more information about Sarcos, its leadership team, board of
directors and investors, visit https://www.sarcos.com/company/.

ABOUT SARCOS

Sarcos® Robotics is
the world's leader in mobile, dexterous, tele-operated robots that
combine human intelligence, instinct and judgment with robotic strength,
endurance and precision to augment worker performance. Leveraging more
than 25 years of research and development, Sarcos makes revolutionary
robotics products designed to save lives, reduce injury and improve
productivity, including the Guardian
S
Guardian
GT
, and Guardian
XO
. Sarcos is revolutionizing a myriad of industries by deploying
robots that will create the safest, most productive and cost-effective
work force in the world. Sarcos' investors include Caterpillar, GE
Ventures, Microsoft, and Schlumberger. Sarcos is headquartered in Salt
Lake City, Utah, with additional offices in the Seattle area. For more
information please visit www.sarcos.com.

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