Eureka Robotics, a Singapore-based start-up specialising in robotics and artificial intelligence, has raised $10.5 million in a Series A funding round, as announced by the company on Thursday.
B Capital led the round and saw participation from Airbus Ventures, Maruka Corporation, G. K. Goh Ventures, and returning investors UTEC and ATEQ.
The funding will accelerate the development of Eureka Robotics’ flagship products, the Eureka Controller and Eureka 3D Camera. These products are designed to enhance precision and efficiency in manufacturing and logistics operations.
Pham Quang Cuong, the company’s co-founder and CEO, said they aim to transform industrial tasks by automating repetitive and hazardous jobs, allowing human workers to focus on creative work.
“Eureka Robotics was founded in 2018 with the mission of helping factories worldwide automate dull, dirty, and dangerous work. We are proud to reach the next stage of our development with the support of our investors and partners,” said Dr. Pham.
Future Scalability
The technology has completed over 25 million operations globally for companies including Toyota, Denso, Mitsubishi Electric, Bridgestone, Pratt & Whitney, and Coherent.
The company plans to scale operations in Singapore and Japan and establish a stronger presence in the US market.
Having already gained traction in Japan, Eureka intends to expand into cities like Nagoya and Osaka while leveraging its new funding to enter the US market fully.
Eureka’s proprietary High Accuracy-High Agility (HA-HA) technology integrates AI and robotics to perform complex tasks, such as assembling car engines, with adaptability and micron-level precision.
B Capital’s general partner, Karan Mohla, highlighted the significance of Eureka’s innovations. “Eureka Robotics is at the forefront of the next wave of embodied AI and industrial automation. Their solutions address the increasing complexity of manufacturing processes with efficiency and precision,” he said.
The post Eureka Robotics Secures $10.5 Mn Series A Funding to Advance AI Deployment appeared first on Analytics India Magazine.
