Deep-tech robotics startup CynLr, also known as Cybernetics Laboratory, has successfully raised $10 million in its Series A funding round, co-led by Pavestone and Athera Venture Partners (formerly Inventus India). This latest round brings CynLr’s total funding to $15.2 million, with participation from existing investors including Speciale Invest and Infoedge (Redstart), among others.
Purpose of the Funding
The newly secured funds will be directed towards expanding CynLr’s team and supply chain network, as well as enhancing its hardware and software capabilities. The company’s primary goal is to reduce costs and improve customer experience, a crucial factor as it continues to develop its innovative technology solutions.
Innovative Offerings
Founded in 2019 by Nikhil Ramaswamy, Gokul N A, and others, CynLr specializes in AI-based robotic vision solutions tailored for industrial applications. The startup provides a visual object intelligence platform that empowers industrial robotic arms to see, understand, and manipulate objects within random, unstructured environments.
CynLr is also set to launch its application, Denso, which will allow customers to manage demand variability for various parts using a hot-swappable robot station to enhance plant-level automation.
Another key product, CyRo, is designed to revolutionize production lines with the vision of a “Universal Factory,” enabling the profitable production of custom-fit consumer goods, even at low volumes. The startup aims to enhance hardware reliability, improve software performance, and reduce operational costs for its clients.
Supply Chain and Growth Aspirations
CynLr manages a robust supply chain that includes over 400 parts sourced from 14 countries. The company plans to expand its manufacturing capacity to deploy one robot system per day, with an ambitious revenue target of $22 million by 2027.
As the demand for automation and advanced robotics continues to grow across various industries, CynLr’s focus on innovative solutions positions it well for future success. The recent funding round will provide the necessary resources to accelerate its growth and enhance its market presence.
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