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Eureka Robotics recently announced a significant milestone by securing $10.5 million in Series A funding. Based in Singapore, the startup highlighted that this financial boost will facilitate the acceleration of its key products, namely the Eureka Controller and the Eureka 3D Camera.
The Eureka Controller serves as a robust system tailored for vision and robotics applications, allowing for high-precision calibration and efficient force control. According to the company, it acts as a central hub capable of connecting and managing a diverse array of industrial devices.
Complementing this, the Eureka 3D Camera has been developed to integrate affordable yet effective 3D vision capabilities within robotic systems. This innovative device employs AI-driven, projector-free 3D reconstruction technology to enhance functionality.
These advancements are designed to empower systems integrators and manufacturers to implement high-accuracy, high-agility (HA-HA) applications, including tasks such as picking, object recognition, and thorough inspection within factories and warehouses. This technology enables robots to execute tasks with improved precision and agility.
Eureka aims to expand into the U.S. market
Backed by research advancements in robotics and AI from esteemed institutions like NTU Singapore, MIT, and the University of Tokyo, Eureka Robotics indicated that the new funding will help bolster its operations in both Singapore and Japan. The company also intends to leverage this round of funding to establish a stronger foothold in the U.S. market, where it has already secured initial clients.
Having utilized previous funding from a pre-Series A round led by UTEC to open a branch in Tokyo, Eureka has made significant inroads into the Japanese landscape. The latest capital injection will support further expansion into key cities such as Nagoya and Osaka.
Eureka’s proprietary HA-HA technology is engineered to merge AI capabilities with physical manufacturing processes, providing a unique combination of swift adaptability and pinpoint spatial accuracy. The system allows robots to tackle intricate responsibilities, such as the autonomous assembly of car engines, with exceptional precision.
The company has successfully implemented its systems in genuine manufacturing environments, recording over 25 million operations for industry giants including Toyota, DENSO, Bridgestone, Mitsui Fudosan, and Sumitomo Bakelite in Japan, alongside clients like Pratt & Whitney, Coherent, and Excelitas in the United States.
Global investors back automation initiatives
“Eureka Robotics was established in 2018 with the aim of transforming the automation landscape, effectively tackling dull, dirty, and dangerous tasks, thereby allowing human workers to channel their efforts into more creative roles,” commented Dr. Pham Quang Cuong, co-founder and CEO. “Reaching this significant stage in our development is a proud moment for us, made possible through the support of our investors and collaboration with our valued customers and partners. We remain committed to advancing our innovative technology for broader societal benefits.”
B Capital, a prominent global multi-stage investment firm, spearheaded this funding round. New investors joining the initiative include Airbus Ventures, a deep-tech venture capital firm; Maruka Corp., a Japanese trading company with a focus on machinery; and G. K. Goh Ventures, an early-stage investment firm based in Singapore.
The Series A funding round also saw participation from returning investors like UTEC, one of Asia’s foremost deep-tech investment firms, and ATEQ, which specializes in manufacturing solutions for leak testing.
Source
www.therobotreport.com