CynLr, a visual object intelligence platform has raised $4.5 million in funding round from Speciale Invest and growX Ventures.
Many investors including Anicut Capital, Infoedge, Java Capital, Venture Catalysts, Arali Ventures, and angel investors like Arvind Vasu (former Asia Head, ABB Technology Ventures), NalinAdvani (former CEO, Asia Pacific, GreyOrange Robotics), Srivats Ram (MD, Wheels India), ShriramVijayaraghavan (president, Wheels India) and Jayaram Pillai (former MD – India, Russia, Arabia, NI) also participated in this round.
The startup will use the new capital to establish its business presence in the US, grow its team to more than 50 members, and build capacity to address an existing pipeline of customers and deliver 100 robots annually.
Bangalore-based CynLr was founded in 2019 by Nikhil Ramaswamy and N. A. Gokul, it simplifies and eliminates the need for tailored machines to handle objects.
“CynLr’s visual robots can instantaneously pick any object of any size, shape, weight, or material regardless of orientation and place with limited to no pre-training. This is the stepping stone in creating Universal Factories – a factory so standardized that any product – from cars to phones to probably even your food, can be manufactured under the same roof, and is just a click of a button away,” said, Nikhil Ramaswamy, co-founder at CynLr.
“When it comes to adapting to unforeseen changes in manufacturing objects, human vision and hands are the only universal solution that we have. CynLr fills this void in current AI and ML, by looking at how Intelligence evolved along with vision in animals, over a billion years. This we believe will make objects the new data”, Said, N. A. Gokul, founder of CynLr.
In August 2019, CynLr has raised Rs 5.5 crorein seed funding round from Speciale Invest and Arali Ventures. The latest funding brings the total funding raised by the company to $5.25 million.