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CynLr raises Series A funding to realize robot vision for ‘universal factory’
- CynLr has raised $10m in series A funding to develop its ability to make robots automatically recognize and manipulate objects and become true factories in a “factory-as-a-product” concept.
- The US start-up hopes to improve performance, reliability and user experience with the funding, allocate more funds to research and development (R&D), reduce costs for customers and expand its team.
- CynLr’s technology aims to allow robots to manipulate objects of any shape, colour, size and form toward the aim of developing a “universal factory”.
- The company plans to use the R&D funds to gain deeper understanding of managing demand variability for different robot parts via a hot-swappable robot station, and working with customers like General Motors to agree on one standard robot platform that can manage 22,000+ parts for assembly.
- It is also working with customers in the US and EU to produce pilot applications of the factory-as-a-product vision and viewing the Series A investment as critical in bringing its technology to the masses.
- CynLr claims its robot vision stack, inspired by human eyesight, and its Event Imaging technology, can be used on any object without requiring human training on the robot’s movements.
- CyRo, the three-armed robot developed by CynLr, can comprehend, grasp and manipulate objects in complex environments with ease thanks to its innovative robotic vision stack inspired by the human eye.
- The Series A funds came from Pavestone Capital, Grow X Ventures, and Athera Ventures, with existing investors Infoedge, Speciale Invest and others also contributing.
- CynLr now plans to develop its 60-member core team into a 120-member international team that will include business leaders, marketing and sales teams and employees across India, the US and Switzerland.
- It also plans to open up a “Cybernetics H.I.V.E.” that will double in size to 50 robots by 2026.
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