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On Mon, 14 Oct, 4:02 PM UTC
2 Sources
[1]
Robotics startup Perceptyne raises $3 million from Endiya Partners, Yali Capital, others
Hyderabad-based Perceptyne said it will use the new funds to accelerate product development, customer acquisition and growth. The company was valued at $3.73 million as of March, following its previous pre-seed funding round of $550,000 led by Venture Catalysts.Robotics startup Perceptyne has raised $3 million in a seed funding round co-led by Endiya Partners and Yali Capital, with participation from Whiteboard Capital and other angel investors. The funds will be used to accelerate product development, customer acquisition and growth, it said on Monday. Hyderabad-based Perceptyne was valued at $3.73 million as of March, following its previous pre-seed funding round of $550,000 led by Venture Catalysts, as per Tracxn. Founded by Raviteja Chivukula, Jagga Raju Nadimpalli and Mrutyunjaya Nadiminti, Perceptyne is developing an artificial intelligence (AI)-powered, full-stack robotics platform designed for tasks requiring human-like dexterity, such as product assembly and packaging. Perceptyne's flagship products, PR-34D and PR-9D, are dual-arm and single-arm robots featuring integrated computer vision, AI, multi-modal sensing, and highly articulate end-effectors suited for manufacturing and assembly line tasks. The company operates on a business-to-business model, offering both a capex option for customers to purchase robots, and an opex model where Perceptyne installs the robots, generating revenue through usage. The company said it is currently working with major players in the automotive and electronics sector. "We are seeing strong growth for robotics, both domestically and globally. In India, because of initiatives like Make in India, a lot of companies want to build here and our domestic consumption for a lot of high-tech electronic products is growing. Also, the availability of skilled labour is also not keeping pace, because of a lot of alternative career options. This is where AI-driven robotics companies like us will play a key role," Chivukula, CEO and cofounder of Perceptyne, told ET. He noted that the global industrial robotics market is projected to reach $41 billion annually by 2030, with a compound annual growth rate (CAGR) of 12.3%. This funding comes amid growing demand for AI and robotics services across industries such as manufacturing, logistics, and healthcare. Last week, Pune-based robotics startup Haber raised Rs 317.2 crore in a funding round led by private equity firm Creaegis, with participation from Accel India and BeeNext Capital. "The time has come for an AI-first robotics company which is building for manufacturing automation. Perceptyne is addressing the critical need for a drop-in, generic automation solution that learns through AI-led tele-operation," said Raghav Gupta, vice president, Endiya Partners. Perceptyne's top competitors include Tokyo-based Telexistence, California-based Figure, among others.
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Robotics Startup Perceptyne Bags $3 Mn From Endiya Partners, Yali Capital & Others
Founded by Raviteja Chivukula, Jagga Raju N and Mrutyunjaya Sastry, Perceptyne is a deeptech robotics platform developing dexterous, affordable and contextually aware robots Robotics startup Perceptyne has secured $3 Mn (around INR 25 Cr) in a seed funding round co-led by Endiya Partners and Yali Capital, along with participation from Whiteboard Capital and a clutch of angel investors. The company plans to use the fresh capital to boost product development, customer acquisition and drive growth. Founded by Raviteja Chivukula, Jagga Raju N and Mrutyunjaya Sastry, Perceptyne is a deeptech robotics platform developing dexterous, affordable and contextually aware robots. Its flagship products include dual-arm and single-arm robots named PR-34D and PR-9D. It claims to enable manufacturing companies to accelerate robotic automation by dramatically reducing integration time (quarters to weeks) and implementing automation without changes to their assembly lines. "AI has been making huge strides in the digital world with more compute being available, complex models being built and large amounts of data being collected. Perceptyne is building automation systems at this intersection - those that combine AI models with dexterity, multi-modal sensing and articulate actuators. We believe that this will revolutionize manufacturing by making many more applications automatable, " Chivukula said. Prior to this, the startup claims to have raised $724K in total funding over two rounds. It also counts Venture Catalysts, T-Hub and Z21 Ventures among other backers. This comes at a time when a number of startups operating in healthcare, logistics, warehousing and retail chain management are scrambling to integrate AI-based automation systems into their business operations as demand booms for quick delivery of products and services. As a result, most of the companies in the segment are securing funds to capitalise on the automation operations. For instance, in August, AI-based robotics startup Haber and marine robotics deeptech startup EyeROV raised INR 317.2 Cr (about $38 Mn) and INR 10 Cr (around $1.2 Mn) in funding rounds respectively. As per Inc42 data, India was home to more than 400 deeptech startups in 2023, a jump of 4X from 100 in 2014. Between 2014 and 2023, homegrown deeptech startups raised over $1.5 Bn in funding across 343+ deals.
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Hyderabad-based robotics startup Perceptyne raises $3 million in seed funding to accelerate development of its AI-powered robotics platform for manufacturing automation.
Perceptyne, a Hyderabad-based robotics startup, has successfully secured $3 million in a seed funding round co-led by Endiya Partners and Yali Capital. The funding also saw participation from Whiteboard Capital and several angel investors 12. This investment marks a significant milestone for the company, which was valued at $3.73 million as of March 2023, following a previous pre-seed funding round of $550,000 led by Venture Catalysts 1.
Founded by Raviteja Chivukula, Jagga Raju Nadimpalli, and Mrutyunjaya Nadiminti, Perceptyne is developing an artificial intelligence (AI)-powered, full-stack robotics platform. The company's technology is designed for tasks requiring human-like dexterity, such as product assembly and packaging 1. Perceptyne's flagship products, PR-34D and PR-9D, are dual-arm and single-arm robots featuring:
These robots are particularly suited for manufacturing and assembly line tasks, aiming to revolutionize the automation process in various industries 12.
Perceptyne operates on a business-to-business model, offering two options for customers:
The company is currently working with major players in the automotive and electronics sectors. Chivukula, CEO and co-founder of Perceptyne, highlighted the strong growth potential for robotics both domestically and globally. He noted that the global industrial robotics market is projected to reach $41 billion annually by 2030, with a compound annual growth rate (CAGR) of 12.3% 1.
The newly acquired funds will be used to:
Perceptyne's technology aims to address the critical need for a drop-in, generic automation solution that learns through AI-led tele-operation. Raghav Gupta, Vice President of Endiya Partners, emphasized the timeliness of an AI-first robotics company building solutions for manufacturing automation 1.
This funding comes amid growing demand for AI and robotics services across industries such as manufacturing, logistics, and healthcare. Perceptyne faces competition from international players like Tokyo-based Telexistence and California-based Figure 1. The startup's innovative approach to combining AI models with dexterity, multi-modal sensing, and articulate actuators positions it uniquely in the market 2.
As India's deeptech startup ecosystem continues to grow, with over 400 startups in 2023 compared to 100 in 2014, Perceptyne's success reflects the increasing interest and investment in AI-powered automation solutions 2. The company's progress aligns with the broader trend of startups integrating AI-based automation systems into various business operations, driven by the demand for efficient and quick delivery of products and services.
EyeROV, a marine robotics startup, has raised ₹10 crore in a pre-Series A funding round led by Unicorn India Ventures. The company plans to use the funds to expand its product line and enter new markets.
4 Sources
4 Sources
Bengaluru-based Ati Motors raises $20 million in Series B funding to expand its AI-driven robotics solutions for industrial automation, with plans to accelerate product development and global market presence.
3 Sources
3 Sources
UptimeAI, an AI-powered industrial intelligence platform, has raised $14 million in Series A funding led by WestBridge Capital. The startup aims to transform manufacturing processes with its innovative AI solutions.
3 Sources
3 Sources
Pulse, an agentic AI-powered platform for SaaS product teams, has raised $1.4 million in seed funding led by Endiya Partners. The startup aims to transform product management by leveraging AI to analyze customer feedback and automate feature prioritization.
3 Sources
3 Sources
Apptronik, a US-based humanoid robotics company, has raised $350 million in Series A funding to expand production of its humanoid robot, Apollo. The round was co-led by B Capital and Capital Factory, with participation from Google, positioning Apptronik as a leader in AI-powered humanoid robotics.
9 Sources
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