Bright Machines

Bright Machines raised $132 million in debt and Series B equity funding, with $100 million equity led by Eclipse Ventures and $32 million debt led by Silicon Valley Bank and Hercules Capital. The funds will accelerate growth and expansion into new verticals.

Bright Machines, a software-defined manufacturing automation company, has entered into a definitive merger agreement with SPAC SCVX. The transaction values Bright Machines at a pro forma enterprise value of $1.1 billion and is expected to provide up to $435 million in gross cash proceeds, including a $205 million PIPE.

Bright Machines will provide its Microfactory automation solution to Argonaut Manufacturing Services, a contract manufacturer for life sciences, to automate assembly processes and increase production throughput.