Sesto Robotics, located in Singapore, has acquired US $5.7 million in investment from early-stage venture capital company TRIVE, World Trading Inovation WTI GmbH in Germany, and SEEDS Capital.
The autonomous mobile robots (AMR) provider to improve its capacity to service international partners and engage in digital marketing will use the cash.
Sesto Robotics will also continue to invest in strengthening its AMR skills and expanding its AMR application portfolio.
Sesto Robotics designs and implements robotics solutions for clients all over the world. Manufacturing and healthcare companies have used their autonomous mobile robots and automated guided vehicles.
Sesto Robotics plans to capitalize on the growing market for autonomous mobile robots in Europe, which is expected to increase at a CAGR of 11.8 percent over the next four years from its present value of US $4.40 billion.
“Having WTI as a strategic investor at this stage of our company’s development helps us to expand into the important European and German market that is the home of Industry 4.0. Sesto benefits from the industry knowledge and network of Josef Wildgruber of WTI and BBS Automation,” said Chor Chen Ang, CEO of Sesto Robotics.
Josef Wildgruber, the owner of WTI GmbH and CEO of BBS Automation, added, “In Sesto Robotics, we see a company that has developed AMR solutions that can scale overseas and have been designed and built according to safety requirements in Europe. We have performed our due diligence and believe SESTO has a bright future ahead”.