Automata, a London, UK-based robotics company, raised $7.4m in Series A funding.
The round was led by Hummingbird Ventures, with participation from firstminute Capital, Hardware Club and previous investors LocalGlobe, ABB, and Entrepreneur First.
The company intends to use the funds to continue the expansion of their team of 42, as well as supporting the increased production of Eva.
Founded in 2015 by trained architects Mostafa ElSayed and Suryansh Chandra, Automata provides Eva, a desktop robot for industrial use, now available to order from the website for £4,990.
Designed to be lightweight, user-friendly and accessible, while maintaining industrial quality performance, Eva has a powertrain that includes a proprietary gearing system, as well as a software program called Choreograph. The tailor made gearing system allows for both the price point and set up time to be substantially reduced from what would typically be days to just a few hours, serving as key points of differentiation from others in the space. Choreograph also has 3D programming capabilities, animation-inspired interface, and flexibility to run on any web-enabled device.
This opens robotics up to manufacturers doing short production runs, in order to adapt to seasonal demands as well as offer high degrees of customization.
To date, Automata has raised $9.5m with earlier round investors including ABB Group, LocalGlobe, Entrepreneur First, Innovate UK and angel investors Joe White and Wendy Tan, VP of X (Alphabet).
FinSMEs
20/03/2019