Singapore-based Sesto Robotics targets international expansion with $5.7M raise

Singapore-based industrial robotics firm Sesto this week announced a $5.7 million raise, featuring TRIVE, WTI GmbH and SEEDS Capital (Enterprise Singapore’s VC wing). The round follows a similarly sized $4 million Series A, back in 2018.

Sesto has had a busy few years since that round — as have many in the industrial robotics category, as more companies have looked toward automation during the pandemic. In May 2020, the firm launched HealthGUARD, a disinfecting robot that was ahead of the curve of UV-C systems we’ve seen over the past few years.

That August, the company added Magnus to its lineup of AMRs (autonomous mobile robots). That system operates similarly to a number of autonomous warehouse robots, and looks a fair bit like the systems developed by (the now-Amazon-owned) Kiva. Their modular design means that various accessories can be mounted on top of the robots for additional functionality, a plus for companies looking to swiftly deploy an army of autonomous assistance. That includes things like Sesto Prime, a 7-axis robot arm designed specifically for semiconductor production — a category of manufacturing no doubt eagerly looking to expand into automation.

Last May, Sesto expanded operations to Europe — specifically Austria, Germany and Switzerland. That no doubt explains investment interest this round from EU-based firms. Citing research from GMD, CEO Chor-Chen Ang notes of the round, “We are excited to tap into the growth of Autonomous Mobile Robots in Europe which is projected to expand at a CAGR of 11.8% over the next 4 years from US $4.40B currently.”

Funding will go toward expanding these sorts of international partnerships, market, as well as building out the company’s product offerings and the versatility of its existing robots.

Credit belongs to : www.techcrunch.com

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