Robotics Startup CynLr Raises Rs 5.5 Cr in Seed Funding Round

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  • It will use the funds for product research and development, and to drive adoption.
  • CynLr plans to go-to-market with a single universal vision guided pick-orient-place robot platform capable of handling varied types of objects.

CynLr, a Bengaluru-based robotics deep tech startup building visual object intelligence for industrial robots, has raised Rs 5.5 crore ($778,900) in its seed round of funding, led by venture capital firms Speciale Invest and Arali Ventures.

GrowX Ventures, CIIE Initiatives (the technology business incubator of IIM-Ahmedabad) and renowned value investor Dr Vijay Kedia also participated in the funding round, said CynLr in a press release.

Owned and operated by Vyuti Systems Pvt Ltd, CynLr plans to use the funds for further product research and development, and to drive adoption.

The company’s vision

CynLr was founded in 2015 by Gokul N A and Nikhil Ramaswamy, who were colleagues at test and automation company National Instruments. It seeks to provide manufacturing companies with a universal machine-vision-enabled robot platform that can handle objects as well as humans do.

Since its inception, the company said it has executed over 30 custom engineered, machine-vision-based robotic solutions for its customers.

Using their proven multi-dimensional image construction and analysis approach, CynLr believes they will solve the robotic object manipulation problem that has been touted as the Holy Grail of robotics by the robotics community.

“Customers would, for the first time in the history of automation, have access to robots that can reliably replace human beings in handling objects,” the founders said.

What the investors see in CynLr?

Rajiv Raghunandan, managing partner, Arali Ventures, commented:

“We believe that CynLr’s approach of bringing together machine vision and artificial intelligence (AI) will significantly enhance object intelligence for industrial robots, thus paving the way for greater penetration of robotics application across various industry segments.”  

Vishesh Rajaram, Managing Partner at Speciale Invest, said:

“We believe Vyuti is poised to become the brain and eye for every robotic hand, which would allow it to pick, orient, and place items as reliably as humans, a development that could lead to automation of all warehouse and manufacturing line jobs on earth.”

Universal vision guided pick-orient-place robot platform

Despite years of advances in automation, manual labour still constitutes 31 per cent of time spent by world labour force, as per a McKinsey study.

On the other hand, the ability of robots to understand the objects especially in clutter and randomness, to grasp and manipulate with accuracy has been an elusive unsolved problem in robotics till date, the release pointed out.

CynLr plans to go-to-market with a single universal vision guided pick-orient-place robot platform capable of handling varied types of objects.

Using the CynLr platform, manufacturing customers can rapidly deploy robots without having to worry about custom-designed fixtures and positioning systems that are currently mandatory for every robot’s deployment, the company added.

 

Longjam Dineshwori

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