After a $4 million Series A round of funding in 2018, Singapore-based industrial robotics startup Sesto raised another $5.7 million this week led by TRIVE, WTI GmbH and SEEDS Capital. Sesto has been busy developing industrial robots for the past few years and has targeted automation during the pandemic.
(Photo: Sesto Robotics)
In May 2020, Sesto Robotics launched the disinfection robot HealthGUARD. In August of the same year, the company's autonomous mobile robot (AMR) family welcomed a new member of Magnus.
The system works much like an autonomous warehouse robot developed by Kiva, which amazon incorporated into its umbrella.
Thanks to the modular design, it is also able to mount various accessories on the robot to provide additional functionality. Sesto Prime, for example, with its 7-axis robotic arm, is designed for semiconductor production.
Last May, Sesto expanded into Europe – particularly Austria, Germany and Switzerland – and sparked interest from EU investors.
Citing GMD research data, CEO Chor-Chen Ang said it was pleased to be able to ride the growth of The European autonomous mobile robot market. The projected COMPOUND over the next four years could increase by 11.8 percent from the current $4.4 billion.
As for the latest round of $5.7 million, Sesto hopes to use it to further expand international markets and establish cooperation, expand the company's product offering, and more features of existing robots.