Singapore-based robotics firm Eureka Robotics said Wednesday it has raised a Pre-Series A round of $4.25 million led by one of Asia’s largest deep-tech investment firms The University of Tokyo Edge Capital Partners (UTEC), with participation from Vietnam’s Touchstone Partners and Eureka’s seed round investor ATEQ.
The target of this round is to accelerate the development of the company’s main product, Eureka Controller, which enables system integrators and manufacturers to deploy high accuracy-high agility tasks in factories, Eureka Robotics said in a statement.
It said the firm will expand its commercialization in Singapore and China as well as in new markets with the support of its investors, namely, Japan via UTEC, Vietnam via Touchstone, and the United States.
For this, the company will be hiring across multiple functions – engineering, product, sales, etc. – in several office locations.
“Eureka Robotics is a poster child for a truly global and collaborative deep-tech innovation with roots in Singapore and Vietnam, catering to marquee clients in Japan, China, Europe, and the United States. Eureka’s artificial intelligence (AI)-powered robotic controllers automate tasks that require ‘High Accuracy-High Agility,’ often regarded as the holy grail of industrial robotics,
We, at UTEC, are privileged to back the Eureka Robotics team, and support their journey in tackling labor shortage while unlocking exponential productivity gains,” said Kiran Mysore, Principal at UTEC.
Eureka Robotics delivers robotic software and systems to automate tasks that require high accuracy and high agility (HAHA). With offices in Singapore and France and distribution partners in China, Japan, and the United States, Eureka Robotics prides itself on helping clients, globally, achieve vastly improved productivity, lower costs, and better safety. Its focus application areas include precision handling, assembly, inspection, drilling, and many other domains.
According to the statement, HAHA automation has historically been costly because existing technologies only solve either HALA (high accuracy-low agility) or LAHA (low accuracy-high agility) tasks. However, in high-precision manufacturing such as electronics, optics, and automotive, among others, there are many tasks that require both high accuracy and high agility at the same time.
In fact, if a task in precision manufacturing hasn’t been automated yet, and is still done manually, it’s likely because it’s HAHA, that is, it also requires agility. This is a bottleneck for improving productivity, and here is where Eureka Robotics comes to democratize HAHA automation with the development of Eureka Controller.
“We made Eureka Controller extremely easy to use, and it’s not even necessary to know how to write code to use it. Basically, system integrators can use Eureka Controller’s graphical interface to develop high-performance HAHA solutions for the end customer. This simplicity will allow more and more people to use it, and it will help thousands of manufacturing companies out there,” said Eureka Robotics’ Co-Founder Pham Quang Cuong.
Indeed, this technology addresses both the current global labor crunch and supply chain shortage in precision manufacturing, such as the scarcity of silicon semiconductors (chips) in the news since last year.
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