CynLr raises seed funding

CynLr raises seed funding Techiexpert.com

CynLr, which is a Bangalore based robotics startup working on building visual object intelligence for the industrial robotics, has now secured INR 5.5 crore in the funding round of seed led by the Speciale Invest and Arali Ventures.

The company will now be going to use the funds to drive research and development and increase the adoption of its product, according to the report.

Centre for innovation incubation and entrepreneurship, which is a technology business incubator of IIM Ahmedabad, investor Vijay Kedia and some other early age investor also participated in the round.

CynLr which is operated and owned by the Vyuti System was founded by the Nikhil and Gokul in the year 2015, who were colleagues at the automation and test company national instruments. The startup also provides manufacturing companies with a universal machine vision-enabled robot platform that can sense and manipulate objects as just as machine does.

“Using the proven multi-dimensional image construction and analysis approach, CynLr believes that it will solve the robotic object manipulation problem that has been touted as the holy grail of robotics by the robotics community – a 30+-year-old dream yet to see the light of the day. Customers for the first time in the history of automation would have access to robots that can reliably replace human beings in handling objects,” the founders said in a joint statement.

Report

Written by Udit Agarwal

Startup/Tech News Correspondent, Responsible for gathering information on the tech companies working on IOT, AI, ML, Cloud, Mobile Technologies,

Udit can be reached at [email protected]

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