Phinxt Robotics, a London, UK-based AI-led robotics software company, raised £2M in funding.
The round was led by Sure Valley Ventures with participation from Ada Ventures, Atlas Ventures and Heartfelt Ventures.
The company intends to use the funds to expand operations and its development efforts.
Led by CEO Yanwen Chen and Quirino Zagarese, Phinxt Robotics provides a platform that enables any type of robot to collaborate creating autonomous ecosystems for warehouses and entire supply chains. It works on a per robot leasing model for low-cost adoption and to get the best-fitting robots for the customers. The platform can coordinate robots on the edge to easily add new robots at low cost. Starting with warehouse automation, ecommerce providers can use it to double their profit margins and 4X their productivity, getting more done with less spend. Phinxt’s ultimate vision includes autonomous vehicles and drones self-directing and collaborating on the edge, opening up vast usability and scalability for autonomous machines.
The company previously raised £600k from Fuel Ventures, Amar Shah (the co-founder of Wayve and founder of Dhyan Ventures), Atlas, APX, Prequel Ventures, Ventures Together syndicate and Alma Angels.
FinSMEs
06/08/2024