Bengaluru-based robotics startup CynLr raises $10 million

FILE PHOTO: CynLr has raised $10 million in a fresh round of Series A funding led by Pavestone and Athera Venture Partners.
| Photo Credit: Special Arrangement

DeepTech robotics startup CynLr or Cybernetics Laboratory has raised $10 million in a fresh round of Series A funding led by Pavestone and Athera Venture Partners with existing investors including Speciale Invest, Infoedge and others also participating. The startup has a three-armed, modular, general-purpose robot system called CyRo geared towards factories looking to automate complex tasks.

CyRo is powered by the startup’s in-house Human-Eye inspired Robotic Vision Stack, CLX-01 which is trained on pre-fed data and uses real time motion to see the depth of unknown objects. Termed as event imaging, the technology enables the lenses to gauge even reflective or transparent objects even amidst changes in lighting.

In a press release, the startup said that they will use the funds raised to expand their 60-member core team to 120 people. CynLr will be hiring for business and operations, marketing and sales teams across India, U.S. and Switzerland as well as its research and software development team. 

According to the statement, CynLr’s 13,000 sq. ft. robotics lab in Bengaluru currently hosts 25 robot systems which it plans to expand to more than 50 systems by 2026.  

“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,” said Nikhil Ramaswamy, founder of CynLr.

“Enabling an industrial robot to perform seemingly simple tasks (like inserting a screw without slipping, for example), is what CynLr has managed to crack. This breakthrough will enable the manufacturing industry to dramatically increase efficiency, and maximize the value of production setups,” says Samir Kumar, General Partner with Athera Venture Partners.

Back in 2022, the visual robotics platform had raised $4.5 million. After the current round, its total funding stands at $15.2 million.