Bengaluru-based deeptech startup CynLr (Cybernetics Laboratory) raised $10 million in Series A funding in a round led by Pavestone and Athera Venture Partners (formerly Inventus India), with participation from existing investors, including Speciale Invest and Infoedge. This latest funding brings CynLr’s total raised capital to $15.2 million.
The company plans to use the investment to double its workforce, expand its supply chain, and enhance both hardware and software to lower costs and improve the customer experience.
Global Expansion and Growth
The company’s plans include expanding its robotics lab in Bengaluru, currently housing 25 robot systems, to accommodate over 50 by 2026. CynLr aims to manufacture one robot system per day and achieve a $22 million revenue milestone by 2027.
The funding will also support the expansion of CynLr’s core team from 60 to 120 members, as well as hiring business, marketing, and operational leaders across India, the US, and Switzerland.
Recently, the startup inaugurated their design and research centre in Unlimitrust Campus in Prilly, Switzerland during the Swiss Indian Innovation Week. The Switzerland Centre will work closely with CynLr’s Research partners in EPFL LASA (Lausanne) and CSEM (Neuchâtel).
CynLr aims to solve long-standing challenges in robotics by developing technology that enables robots to intuitively recognize and manipulate objects of any size, shape, or colour, just as a human would.
“With the CyRo form factor receiving a resounding response from customers, technology-market fit has been firmly established,” said Gokul NA, founder of design, product & brand at CynLr. “These customers are now eager to integrate CyRo into their production lines, envisioning a ‘Universal Factory’ that can produce customised goods profitably, even at low volumes.”
CyRo
The company’s flagship product, CyRo, is a modular, three-armed robot that can intuitively handle a variety of objects without specific training. Powered by CynLr’s proprietary CLX-01 robotic vision system, CyRo uses real-time depth perception to adapt to unknown objects, handling transparent and reflective items even in challenging lighting conditions.
Gokul said that CynLr manages an extensive supply chain of 400+ parts sourced across 14 countries and will expand its manufacturing capacity to achieve the goal of deploying one robot system per day and reach the $22 million revenue milestone by 2027.
Nikhil Ramaswamy, CynLr’s founder in charge of GTM, Sales & Investment, commented on the broader vision, explaining, “With the current momentum of breakthroughs in CyRo’s capabilities, we will be able to substantially reduce costs and drive adoption, bringing it closer to realising the possibility of creating an ‘Object Store’ – a platform similar to today’s app stores, allowing customers to pick a recipe of applications and Object models to have the Robot instantaneously perform a desired task.”
Robotics startups are increasingly gaining traction with a number of companies looking to automate tasks in manufacturing industries. Figure 02 humanoids are already employed in BMW factories.
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