CynLr raises $4.5 million in a pre-Series A round of funding
- ByStartupStory | April 5, 2022
CynLr, a deep-tech startup, has raised $4.5 million in a pre-Series A round of funding. Srivats Ram (MD, Wheels India, TVS Group), Shriram Vijayaraghavan (President, Wheels India, TVS Group), Arvind Vasu (former Asia Head, ABB Technology Ventures), Nalin Advani (former CEO, Asia Pacific, GreyOrange Robotics), and Jayaram Pillai (former MD – India, Russia, Arabia, NI) were among the notable investors who took part in the round.
According to a press statement, CynLr plans to develop a business presence in the United States, grow its team to over 50 individuals, increase capacity to meet the present pipeline of customers, and deploy 100 robots every year.
Gokul NA and Nikhil Ramaswamy founded the startup in 2015 with the goal of providing manufacturing firms wishing to automate manual labor with a universal machine vision-enabled robot platform that can perceive clutter in the real environment and manage products like people.
Manufacturing companies may quickly deploy robots using the CynLr platform without having to worry about custom-designed fixtures and positioning systems, which are currently required for every robot deployment.
Prior to this investment, CynLr had raised $775K in a seed round funded by Speciale Invest and Arali Ventures in 2019. To date, the company has raised $5.25 million. CynLr believes they will solve the robotic object manipulation challenge, which the robotics world has dubbed the “Holy Grail of robotics.”
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