Connect with us

Company News

Mobile robotics startup raises $2.3 million in seed funding

Mobile robotics solutions platform Peer Robotics has raised $2.3 million in its seed-funding round led by Kalaari Capital with participation from existing investors Axilor Ventures, Connecticut Innovations, and Innopact VC.

The Gurugram-based startup offers adaptive robots in manufacturing, assembly line, and warehousing segments.

The firm plans to use the funds for research and development (R&D) on human-robot interaction and market expansion in small and medium-scale manufacturing around the world, it said.

Founded in 2019 by Rishabh Agarwal and Tanya Raghuvanshi, Peer Robotics is designed to work with humans; mirroring workflows in manufacturing operations on repetitive tasks; saving time, increasing efficiencies, and reducing injuries.

The company’s robots learn from humans in real-time, allowing people on the shop floor to easily integrate and deploy solutions alongside them with a flexible design, out-of-the-box deployment, and low maintenance, says the company.

“Manufacturers regularly deal with lots of repetitive, labor-intensive tasks that are great candidates for automation,” said Rishabh Agarwal, Co-Founder, and CEO of Peer Robotics.

“Small and medium-size companies are struggling with labour shortage today not to mention high turnover. Also, many operations are still manual with employees operating at a high risk of injuries and fatigue. Solutions to date have been too expensive and complex.” he added.

Peer Robotics is part of Stanley+Techstars Accelerator program portfolio. Its robot technology has been in research and development for the past year at several manufacturing facilities in the US and India.

“Cyber-physical systems are ushering in a new era where collaborative robots with contextual intelligence, low implementation time and negligible integration cost will lead to industrialisation in every sector,” said Ravinder Pal Singh, Partner, Kalaari Capital. Moneycontrol

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Copyright © 2024 Communications Today

error: Content is protected !!