Warehouse robot management software startup PHINXT Robotics has secured £2m in venture capital funding.
Founded in 2022 by two PhD researchers, Yanwen Chen and Quirino Zagarese, the startup has developed a cloud-based platform they claim helps companies tackle costly and inefficient warehouse operations by making robotic deployments simpler.
Traditionally, integrating robotics in warehouses has been difficult due to setup costs often exceeding £500,000. Businesses also face the complexity of on-site deployment.
PHINXT’s system can be used by small or medium-sized warehouses to install autonomous robotics. Users of the software can add or remove robots as required.
The duo aims to upend the warehouse automation sector by offering a solution that can easily integrate with any type of robot without needing on-premise IT infrastructure or any upfront cost.
They believe their platform enables these robots to collaborate “seamlessly” and create autonomous ecosystems for warehouses and entire supply chains.
The funding round, led by Sure Valley Ventures with participation from Ada Ventures, Atlas Ventures, and Heartfelt Ventures, will go towards expanding operations.
Yanwen Chen, CEO of PHINXT Robotics, said: “This investment will empower us to expand our team and enter new markets, driving further growth and innovation. We are excited to partner with value-add investors who recognize the uniqueness of our technology and its transformative potential across autonomous robots, drones, and autonomous vehicles.”
Chen, who developed an algorithm for robots to self-orchestrate safely even when they lose connection to central networks, added: “We aim to be the gateway for the logistics industry, facilitating the integration of these robots into operations and helping businesses achieve a rapid return on investment.”
PHINXT raised £608,000 last year in an oversubscribed pre-seed round.
The London-based company is aiming to take a slice of the mobile robot market, which is projected to reach $16bn globally with 2.4 million mobile robots, by 2027.
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