When was Covariant founded?

Covariant was founded in 2017 and raised its 1st funding round within a year of its incorporation.

Where is Covariant located?

Covariant is headquartered in Emeryville, United States. It is registered at Berkeley, California.

How many employees does Covariant have?

As of Mar 31, 2026, the latest employee count at Covariant is 47.

Is Covariant a funded company?

Covariant is a funded company, having raised a total of $222M across 5 funding rounds to date. The company's 1st funding round was a $***** Seed round, raised on Nov 08, 2017.

How much is Covariant worth?

The latest valuation of Covariant is $***** as of May 16, 2024.

When was the latest funding round of Covariant?

Covariant's latest funding was a $***** Series C round on Apr 04, 2023, with participation from 6 investors.

Where does Covariant rank among its competitors?

Covariant ranks 2nd amongst 111 active competitors, of which 24 are funded. It stands 2nd in terms of total funding among its competitors. The most recent competitor to raise funding was Vention, which secured $110M in Jan, 2026.

Who are the top competitors of Covariant?

Covariant's top competitors include Vention, Palladyne AI and Mech-Mind. Among them, Vention secured the most recent funding round in January, 2026.

Covariant - 2026 Company Profile, Team, Funding & Competitors

Covariant is a series C company based in Emeryville (United States), founded in 2017 by Pieter Abbeel, Tianhao Zhang, Peter Chen and Rocky Duan. It operates as a Developer of an AI robotics platform for warehouse automation solutions. Covariant has raised $222M in funding from investors like Index Ventures, Radical Ventures and Amplify Partners, with a current valuation of $*****. The company has 111 active competitors, including 24 funded and 2 that have exited. Its top competitors include companies like Vention, Palladyne AI and Mech-Mind.

Company Details

Developer of an AI robotics platform for warehouse automation solutions. The platform uses machine learning and robotics to automate item picking. It is designed to handle a variety of items and adapt to changing warehouse needs. The platform leverages data from a network of warehouses to improve performance.

Website: covariant.ai
Social
Registered Address: Berkeley, California

Key Metrics

Founded Year

2017

Location

Emeryville, United States

Stage

Series C

Total Funding

$222M in 5 rounds

Latest Funding Round

Series C, Apr 04, 2023, $*****

Post Money Valuation

$***** as on May 16, 2024

Investors

Index Ventures & 17 more

Ranked

2^nd among 111 active competitors

Employee Count

47 as on Mar 31, 2026

Similar Companies

Vention & 281 more

View Covariant's full profile

Covariant is associated with 1 legal entity given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
EMBODIED INTELLIGENCE INC. CIN: 822710689 , United States, Active	Dec 31, 2016	-	109 (As on Dec 31, 2022)	-

Covariant has raised a total funding of $222M over 5 rounds. Its first funding round was on Nov 08, 2017. Its latest funding round was a Series C round on Apr 04, 2023 for $*****. 6 investors participated in its latest round. Covariant has 17 institutional investors and 1 angel investor.

Here is the list of recent funding rounds of Covariant:

Filter this list

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Apr 04, 2023	8646864	Series C	6101314	1170360	9153622	9907224
Jul 27, 2021	8501316	Series C	2977696	1319732	5750656	Amplify Partners & 3 more
May 06, 2020	6921794	Series B	9263620	7392068	Index Ventures & 1 more	Amplify Partners

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View details of Covariant's funding rounds and investors

The founders of Covariant are Pieter Abbeel, Tianhao Zhang, Peter Chen and Rocky Duan.

Here are the details of Covariant's key team members:

Pieter Abbeel: Former Co-Founder of Covariant. They are also an angel investor in 11 startups.
Contact Info: 1 email address
Tianhao Zhang: Co-Founder of Covariant.
Peter Chen: Former Co-Founder of Covariant.
Contact Info: 1 email address
Rocky Duan: Former Co-Founder of Covariant.
Contact Info: 1 email address

View details of Covariant's Founder profiles and Board Members

Covariant's employee count trend

Covariant has 47 employees as of Mar 26. Here is Covariant's employee count trend over the years:

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Top competitors of Covariant include Vention, Palladyne AI and Mech-Mind. Here is the list of Top 10 competitors of Covariant, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Vention 2016, Montreal (Canada), Series D	Provider of a modular hardware and software platform for industrial automation	$263M	Georgian, Bain Capital Ventures & 12 others	72/100
2nd	Covariant 2017, Emeryville (United States), Series C	Developer of an AI robotics platform for warehouse automation solutions	$222M	SV Angel, Amplify Partners & 16 others	57/100
3rd	Palladyne AI 1983, Salt Lake City (United States), Public	Developer of an AI robotic software platform for various industries	$85.7M	General Electric, Rotor Capital & 10 others	62/100
4th	Mech-Mind 2016, Haidian (China), Series C	Developer of 3D vision technology and AI software for industrial robots	$200M	Meituan, Sequoia Capital & 4 others	62/100
5th	Viam 2020, New York City (United States), Series C	Software platform for robotics and AI to build smart machines across industries	$117M	Union Square Ventures, Tiger Global Management ... & 4 others	58/100
6th	Energy Robotics 2018, Darmstadt (Germany), Series A	Provider of cloud and AI-based robotic software solutions	$17.9M	Earlybird, Climate Investment & 9 others	56/100
7th	BOW 2020, Sheffield (United Kingdom), Seed	Robotics software platform	$4.99M	Northern Gritstone, Northern Powerhouse Investment Fund ... & 1 others	53/100
8th	Picknik Ai 2015, Boulder (United States), Seed	Developer of robotics application platform and manipulation libraries for automation	$2M	Stellar Ventures, Cypress Growth Capital	52/100
9th	Formant 2017, San Francisco (United States), Series B	Provider of cloud-based solution to control a fleet of robots	$45M	BMW i Ventures, SignalFire & 11 others	48/100
10th	MOV.AI 2016, Sintra (Portugal), Series A	ROS-based software platform for building and deploying autonomous mobile robots in warehouses and factories	$15.2M	Viola Group, NFX & 5 others	48/100