Bright Machines is going public via SPAC merger with SCVX, a special purpose acquisition company, announced today that they have entered into a definitive merger agreement that will result in Bright Machines becoming a publicly listed company. The ticker symbol of Bright Machines when transaction completes will be BRTM.
Bright Machines intends to use the funds to accelerate the Company’s growth, which includes expansion into new markets and development of additional value-added software in areas such as production analytics and quality inspection.
Current Bright Machines shareholders, including Eclipse Ventures, Lux Capital, and BMW i Ventures, will roll 100% of their equity into the combined company.
What does Bright Machines do?
Bright Machines offers an innovative approach to manufacturing automation by combining proprietary software with adaptive hardware to automate repetitive tasks, enabling manufacturers to quickly deploy flexible, autonomous production lines that can scale based on market demand.