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