Peer Robotics, a collaborative mobile robotics company has raised $2.3 million in seed funding led by Kalaari Capital.
The round saw participation from existing investors Axilor Ventures, Connecticut Innovations and Innopact VC.
Peer Robotics is designed to work with humans; mirroring workflows in manufacturing operations on repetitive tasks; saving time, increasing efficiencies, and reducing injuries. The company’s robots learn from humans in real-time allowing people on the shop floor to integrate and deploy solutions alongside them with a flexible design, out-of-box deployment, and low maintenance.
Rishabh Agarwal, Co-Founder, and CEO of Peer Robotics said, “Manufacturers regularly deal with lots of repetitive, labor-intensive tasks that are great candidates for automation. Small and medium-sized companies are struggling with the labour shortage today, not to mention high turnover.” Many operations are still manual with employees operating at a high risk of injuries and fatigue. Solutions to date have been too expensive and complex, he added.
Peer Robotics is part of the STANLEY+Techstars Accelerator program portfolio. The robot technology has been in research and development for the past year at several manufacturing facilities in the US and India.
“Cyber-physical systems are ushering in a new era where collaborative robots with contextual intelligence, low implementation time, and negligible integration cost will lead to industrialization in every sector,” said Ravinder Pal Singh, Partner, Kalaari Capital. Peer Robotics’ navigation module and heuristic feedback-based learning, offers manufacturers the next generation of smart, content driven, and affordable robotic platforms, he added.