CynLr Secures US$ 10M in Series A Funding to Scale Robotics & Global Expansion

Bengaluru, India – CynLr (Cybernetics Laboratory), an Indian DeepTech Robotics Startup, has raised US$ 10 million in a fresh round of Series A funding led by Pavestone and Athera Venture Partners (formerly Inventus India), bringing its total funding to US$ 15.2 million. Existing investors Speciale Invest, Infoedge (Redstart), and others also participated in this round of fundraising. CynLr will now expand its 60-member core team into a 120-member global team. Along with expanding its Research & Software-Dev team, CynLr will be hiring business and operational leaders and marketing, and sales teams across India, US, and Switzerland. 

“With the CyRo form factor receiving a resounding response from customers, the technology-market fit has been firmly established. These customers are now eager to integrate CyRo into their production lines and experiment with the transformational vision of a ‘Universal Factory’ that can profitably produce custom-fit consumer goods, even at low volumes. With the new round of funding, CynLr will focus on enhancing its hardware reliability, improving user experience by enhancing its SW performance, and reduce costs for the customer. 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 US$ 22 million revenue milestone by 2027.” says Gokul NA, Founder - Design, Product & Brand, CynLr.

“This round of investments will help us focus on deeper R&D to build more complex applications and solutions for our customers—like Denso, where they need to manage their demand variability for different parts through a hot-swappable robot station to plant-level automation—like General Motors, where they require one standard robot platform to handle 22,000+ parts for assembly of the vehicles.

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 realizing 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. The company will simultaneously invest in infrastructure for support, solutions engineering, and sales to support this larger vision.” stated Nikhil Ramaswamy, Founder - GTM, Sales & Investment, CynLr.

CynLr’s Design & Research Centre in Switzerland (Unlimitrust Campus, Prilly) was opened recently by Alain Gillièron, Mayor of Prilly, during Swiss Indian Innovation Week on September 26, 2024. The Switzerland Centre will work closely with CynLr’s research partners in EPFL LASA (Lausanne) and CSEM (Neuchâtel). 

Image Source: CynLr

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