 "AI focused robotic startup Perceptyne secures million in seed funding | Start Ups")
Perceptyne’s products are designed to perform tasks requiring human-like dexterity. Image: Shutterstock
Perceptyne, a deeptech AI-first robotics startup, on Monday announced to have secured $3 million in seed funding from Endiya Partners and Yali Capital, with participation from Whiteboard Capital and some angel investors.
The company, a player in the space of AI driven, semi-humanoid robots for industrial automation, said that the funding will be used for accelerating product development, customer acquisition and growth. It is working closely with manufacturing giants in automotive and electronics.
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“AI has been making huge strides in the digital world with more compute being available, complex models being built and large amounts of data being collected. Leveraging these advances in the world of manufacturing automation requires a different class of robots – those that can sense the real-world better and are articulate enough to execute AI inferencing granularly,” Raviteja Chivukula, CEO & co-founder, Perceptyne.
Raghav Gupta, vice-president, Endiya Partners, said, “The time has come for an AI-first robotics company, which is building for manufacturing automation. Perceptyne is addressing the critical need for a drop-in, generic automation solution that learns through AI-led tele-operation. Considering the tailwinds behind Make in India, and Perceptyne team’s capability, we believe there is much to be excited about.”
Karthik Madathil, partner at Yali Capital, said, “We are excited about the potential of Perceptyne’s unique multi-faceted technology to deliver robotic solutions that are precisely tuned to the needs of sunrise sectors of India’s growing economy such as electronic manufacturing. We are very happy to partner with the talented and innovative team at Perceptyne and we believe that they are well equipped to address the opportunities available at the intersection of robotics and AI.”
Perceptyne’s products are designed to perform tasks demanding human-like dexterity, such as product assembly and packaging. To accomplish this, the startup is building a vertically integrated full stack robotics platform centered around AI. Its flagship products, PR-34D and PR-9D, are dual-arm and single-arm robots with integrated computer vision and AI, multi-modal sensing and highly articulate end-effectors suited for manufacturing/assembly line applications.
The industrial robotics opportunity is vast, with the global market estimated to reach $41 billion annually by 2030, registering a CAGR of 12.3 per cent. This growth fueled by global labour shortage and increased reshoring presents a strong global opportunity for AI-driven robotics companies.
The startup is founded by IIT Madras & BITS alumni Raviteja Chivukula, Jagga Raju Nadimpalli and Mrutyunjaya Nadiminti.
First Published: Oct 14 2024 | 1:58 PM IST
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