SINGAPORE’S BOTSYNC CLOSES SEED ROUND TO SCALE UP ITS HEAVY-DUTY AUTONOMOUS MOBILE ROBOT SOLUTIONS
Lead investors are Wong Fong Industries, SEEDS Capital, Angelhub, and Artesian Venture Partners Sainul Abudheen K
– 30 Jun, 2020
Botsync, a Singapore-based robotics startup that builds heavy-duty autonomous mobile robot solutions, has secured a seed round of funding, jointly led by Wong Fong Industries, SEEDS Capital, Angelhub, and Artesian Venture Partners.
The company will use the capital — the amount was not disclosed — to accelerate product development, build new technology teams and scale up production.
“This funding support empowers us to scale up the commercialisation of our robotics solution and enhance the features of our automated vehicles for safer and more reliable use,” said Rahul Nambiar, CEO and Co-founder of Botsync.
Botsync was founded in 2017 by graduates from Singapore’s Nanyang Technological University (NTU) — Nikhil Venkatesh, Prashant Trivedi, Singaram Venkatachalam and Rahul Nambiar.
The startup enables companies to simplify automation of their material movement processes with an intelligent fleet of autonomous mobile robots that can transport payloads between 500 and 1,000 kg.
The robots are designed to be modular and can be deployed without any dependence on infrastructure-based sensors like QR codes. This allows companies to automate daily material handling processes without stopping their existing operations, claim the founders.
The robots can be configured and commissioned in minimal time, in some cases less than a week, the firm boasts.
Powered by deep learning engines, Botsync’s in-house built autonomous mobile robots traverse the local area to create maps of their operating environment. Using this data, they intelligently execute autonomous manoeuvres while avoiding other people and equipment.
To date, Botsync has completed sales contracts across Singapore and India and is currently working with a global energy management solutions company and an international transport and logistics company on pilot projects.
In 2020, the company expects to complete two to three commercial deployments of their MAG robots, increase sales of their industrial training products, and expand its market reach in Southeast Asia and India.
Botsync was incubated at the EcoLabs Centre of Innovation for Energy (EcoLabs), Nanyang Technological University, Singapore (NTU Singapore), where its product commercialisation was accelerated and its funding rounds supported by the EcoLabs co-investor network.
Botsync’s early investors also include Brinc and Nanyang Technological University’s Ecolabs Center of Innovation.
SEEDS Capital is the investment arm of Enterprise Singapore, Wong Fong is a SGX-listed group specialising in several businesses, including customised engineering solutions, industrial and hospitality training, education and talent management and placements.
Angelhub is a startup investor based in Hong Kong, and Artesian is an alternative investment firm in the Asia-Pacific region with over 400 startups in its portfolio.
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Image Credit: Botsync Written by Sainul Abudheen K Editor, e27
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