In a Series A funding round led by Pavestone and Athera Venture Partners (formerly Inventus India), the deep-tech robotics startup CynLr (Cybernetics Laboratory) has raised $10 million, bringing its total funding to $15.2 million. This round also included participation from existing investors, such as Infoedge (Redstart) and Speciale Invest.
According to a CynLr press release, the money will be utilized to grow the team and supply chain network as well as to improve hardware and software capabilities, all of which are intended to lower costs and enhance customer satisfaction.
CynLr, which was founded in 2019 by Nikhil Ramaswamy and Gokul N A, offers industrial robotics AI-based robotic vision solutions. Industrial robotic arms can see, comprehend, and manipulate objects in random, unstructured environments thanks to its visual object intelligence platform.
In order to facilitate plant-level automation, the startup intends to introduce its application with Denso, which enables clients to control demand variability for different parts via a hot-swappable robot station.
Additionally, CynLr showcases its CyRo product, which is intended to equip manufacturing lines with the revolutionary idea of a “Universal Factory” that can make money from producing consumer goods that are tailored to each individual’s needs, even in small quantities. The company wants to lower customer costs, increase software performance, and improve hardware reliability.
With a target of $22 million in revenue by 2027, CynLr says it oversees a vast supply chain of more than 400 parts that are sourced from 14 different countries. The company also plans to increase its manufacturing capacity to deploy one robot system per day.
