Singapore-based industrial robotics company Sesto this week announced a $5.7 million raise with TRIVE, WTI GmbH and SEEDS Capital (the venture capital wing of Enterprise Singapore). The round follows a similarly sized $4 million Series A in 2018.
Sesto has had a busy few years since that round – as have many in the industrial robotics category, as more companies looked to automation during the pandemic. In May 2020, the company launched HealthGUARD, a disinfectant robot that was ahead of the curve of the UV-C systems we’ve seen in recent years.
In August of that year, the company added Magnus to its lineup of AMRs (autonomous mobile robots). This system operates similarly to several autonomous warehouse robots and looks a bit like the systems developed by Kiva (now owned by Amazon). Its modular design means that various accessories can be mounted on top of the robots for added functionality, an advantage for companies looking to quickly deploy an army of autonomous assistance. This includes things like the Sesto Prime, a 7-axis robotic arm designed specifically for semiconductor production – a manufacturing category that is no doubt eagerly looking to expand into automation.
Last May, Sesto expanded its operations to Europe – specifically Austria, Germany and Switzerland. This no doubt explains the investment interest in this round of EU-based companies. Citing research by GMD, CEO Chor-Chen Ang notes about the round: “We are excited to take advantage of the growth of Autonomous Mobile Robots in Europe, which is expected to expand at a CAGR of 11.8% over the next 4 years from US $4.40 Billion Currently.”
Funding will go towards expanding this type of international partnership, market, as well as developing the company’s product offerings and the versatility of its existing robots.