Cellular robotics startup Peer Robotics has raised $2.3 million in a seed funding spherical led by Kalaari Capital. In accordance with the assertion issued by the corporate, the spherical witnessed participation from present traders corresponding to Connecticut Improvements, Axilor Ventures, and Innopact VC.
Commenting on the funding, CEO and cofounder Rishabh Agarwal, Peer Robotics stated, “Producers frequently take care of numerous repetitive, labor-intensive duties which might be nice candidates for automation. Small and medium-sized firms are fighting the labor scarcity immediately, to not point out excessive turn-over. Additionally, many operations are nonetheless guide with workers working at a excessive danger of accidents and fatigue. Options thus far have been too costly and complicated.”
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Established in 2019, the agency was cofounded by Rishabh Agarwal and Tanya Raghuvanshi with the goal to supply robotic options to manufacturing firms throughout numerous sectors corresponding to automotive, machining, and aerospace.
Part of Stanley+Techstars Accelerator programme portfolio, the startup’s robots study from people in actual time. It will enable folks on the store flooring to combine and deploy options in a neater method, alongside a versatile design, low upkeep, and out of field deployment.
The worldwide robotics tech trade is anticipated to extend to $189.36 billion by 2027 with the trade estimated to develop at a CAGR of 13.5% between 2020 and 2027.
