AI robotics startup Augmentus raises seed funding
July 30, 2021 by Manufacturing AUTOMATION
Augmentus, a no-code AI robotics programming platform, has raised an undisclosed amount of capital in a seed funding round led by Singapore-based venture capital firm Cocoon Capital.
Augmentus allows companies to deploy complex industrial robots with high accuracy in a short time.
The proprietary technology incorporates a graphical interface that eliminates the need for coding and CAD files enabling up to 17 times faster programming and integration across various industrial applications.
Today, robot manufacturers are using proprietary programming languages that demand extensive training and expertise. As automation processes require a high level of customization, approximately 75 per cent lifetime cost of your average industrial robot is software-related.
Founded in 2019, Augmentus is already working with 15 global manufacturers to deploy its software for applications ranging from harvesting and plant inspections in urban farms to advanced spraying and welding in automotive production.
Augmentus also provides an integrated artificial intelligence module that allows users to train the software to identify and classify objects, such as car parts or strawberries.
Augmentus has partnered with major global robot manufacturers, including ABB, Universal Robots, TM Robots, Kuka, Nachi and Mitsubishi Electric, to support over 60 per cent of the industrial robots in the market. The team has also developed a method to help onboard new robot models quickly.
The funds will support Augmentus’ official debut of its robotics platform, which aims to streamline the $20-billion robotics software market. In addition, Augmentus plans to hire new talent in software development, business development and partnerships to support the demand for its solution across the world in the coming months.
“Ultimately, we want to make robotics accessible to everyone to use in any application imaginable,” says Leong Yong Shin, co-founder and CEO at Augmentus.