Deep-tech startup CynLr has raised $4.5 million in its pre-Series A round. Notable investors such as Srivats Ram (MD, Wheels India, TVS Group), Shriram Vijayaraghavan (President, Wheels India, TVS Group), Arvind Vasu (former Asia Head, ABB Technology Ventures), Nalin Advani (former CEO, Asia Pacific, GreyOrange Robotics) and Jayaram Pillai (former MD – India, Russia, Arabia, NI) also participated in the round.
CynLr will be establishing its business presence in the US, scale their team to over 50 members and build capacity to address the current pipeline of customers and deliver 100 robots annually, said the company in a release.
Launched in 2019 by Nikhil Ramaswamy and Gokul NA, CynLr is a visual object intelligence platform that enables industrial robotic arms to see, understand and manipulate any object in random unstructured environments
Prior to this round, CynLr had raised its seed round of about $775K in 2019 led by Speciale Invest & Arali Ventures. The startup has raised $5.25 million to date.