CynLr raises $10 Mn in Series A funding round

Deep-tech robotics startup CynLr (Cybernetics Laboratory) has secured $10 million in a Series A funding round co-led by Pavestone and Athera Venture Partners (formerly Inventus India), bringing its total funding to $15.2 million. Existing investors, including Speciale Invest and Infoedge (Redstart), along with other investors, also participated in this round.

The funds will be used to expand the team and supply chain network and to enhance hardware and software capabilities, which aim to reduce costs and improve customer experience, according to a CynLr press release.

Founded in 2019 by Nikhil Ramaswamy and Gokul N A, CynLr provides AI-based robotic vision solutions for industrial robotics. It offers a visual object intelligence platform that enables industrial robotic arms to see, understand, and manipulate objects in random, unstructured environments.

The startup plans to launch its application with Denso, which allows customers to manage demand variability for various parts through a hot-swappable robot station to support plant-level automation.

CynLr also highlights its product CyRo, designed to empower production lines with the transformational vision of a 'Universal Factory' capable of profitably producing custom-fit consumer goods, even at low volumes. The company aims to improve hardware reliability, enhance software performance, and reduce costs for customers.

CynLr reports that it manages an extensive supply chain of over 400 parts sourced from 14 countries and plans to expand its manufacturing capacity to deploy one robot system per day, with a goal to reach $22 million in revenue by 2027.