Fri. Jan 21st, 2022

Singapore-based industrial robotics company Sesto announced a $5.7 million raise this week, with TRIVE, WTI GmbH and SEEDS Capital (the VC wing of Enterprise Singapore). The round follows a similarly sized $4 million Series A back in 2018.

Sesto has had a busy couple of years since that round – as have many in the industrial robotics category, as more companies have looked to automation during the pandemic. In May 2020, the company launched HealthGUARD, a disinfection robot at the forefront of UV-C systems that we have seen in recent years.

In August, the company added Magnus to its range of AMRs (autonomous mobile robots). That system works similarly to a number of autonomous warehouse robots and is somewhat similar to the systems developed by (the now owned by Amazon) Kiva. Their modular design allows various accessories to be mounted on top of the robots for added functionality, a plus for companies looking to quickly deploy an army of autonomous assistance. That includes things like Sesto Prime, a 7-axis robotic arm specifically designed for semiconductor manufacturing – a manufacturing category that is no doubt eager for automation.

Last May, Sesto expanded its activities to Europe, especially Austria, Germany and Switzerland. This undoubtedly explains the investment interest of this round of EU-based companies. Citing research from GMD, CEO Chor-Chen Ang comments on the round: “We are excited to leverage the growth of autonomous mobile robots in Europe, which is expected to grow at a CAGR of 11.8% in the next 4 years from US$4.40 billion currently.”

Funding will go towards expanding these types of international partnerships, to the market, as well as building out the company’s product offering and the versatility of its existing robots.

Leave a Reply

Your email address will not be published. Required fields are marked *