AI focused robotic startup Perceptyne secures $3 million in seed funding
Source: Business Standard
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Perceptyne’s products are designed to perform tasks requiring human-like dexterity. Image: Shutterstock
Perceptyne, a deep-tech AI-first robotics startup, announced today that it has secured $3 million in seed funding. The round was co-led by Endiya Partners and Yali Capital, with participation from Whiteboard Capital and notable angel investors.
Perceptyne operates in the space of AI-driven, semi-humanoid robots for industrial automation. The funding will be used to accelerate product development, customer acquisition, and growth. The company is working closely with manufacturing giants in the automotive and electronics sectors.
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Perceptyne’s products are designed to perform tasks requiring human-like dexterity, such as product assembly and packaging. To achieve this, the startup is building a vertically integrated full-stack robotics platform centred around AI. Perceptyne’s flagship products, PR-34D and PR-9D, are dual-arm and single-arm robots with integrated computer vision and AI, multi-modal sensing, and highly articulate end-effectors suited for manufacturing and assembly line applications.
Raviteja Chivukula, CEO and co-founder, Perceptyne, said, “AI has been making huge strides in the digital world with more compute being available, complex models being built, and large amounts of data being collected. Leveraging these advances in the world of manufacturing automation requires a different class of robots — those that can sense the real world better and are articulate enough to execute AI inferencing granularly.”
The startup was founded by IIT Madras and BITS alumni Raviteja Chivukula, Jagga Raju Nadimpalli, and Mrutyunjaya Nadiminti. The team has extensive experience in designing, manufacturing, and selling deep-tech products for the aerospace, automotive, and electronics industries.
Raghav Gupta, vice president, Endiya Partners, commented, “The time has come for an AI-first robotics company building for manufacturing automation. Perceptyne is addressing the critical need for a drop-in, generic automation solution that learns through AI-led teleoperation. Considering the tailwinds behind ‘Make in India’ and Perceptyne’s team capability, we believe there is much to be excited about.”
“We are excited about the potential of Perceptyne’s unique multi-faceted technology to deliver robotic solutions precisely tuned to the needs of India’s growing economy, especially in sunrise sectors like electronic manufacturing. We are thrilled to partner with the talented and innovative team at Perceptyne and believe they are well-equipped to address the opportunities at the intersection of robotics and AI,” added Karthik Madathil, partner at Yali Capital.
The industrial robotics opportunity is vast, with the global market estimated to reach $41 billion annually by 2030, registering a compound annual growth rate (CAGR) of 12.3 per cent. This growth, fuelled by a global labour shortage and increased reshoring, presents a strong opportunity for AI-driven robotics companies.
First Published: Oct 14 2024 | 1:58 PM IST
