VC Fund Investments
Robotics startup CynLr raises $10-M led by Pavestone, Athera
Bengaluru-headquartered deeptech robotics startup CynLr (Cybernetics Laboratory) has raised USD 10 million in a fresh Series A funding round led by Pavestone Capital and Athera Venture Partners (formerly Inventus India), bringing its total funding to USD 15.2 million. Existing investors Speciale Invest, Infoedge (Redstart), and others also participated in the fundraise.With this new fundraise, the company aims to double its workforce to a 120-member global team. Along with expanding its research and software development team, CynLr will be hiring business and operational leaders, and marketing and sales teams across India, the US, and Switzerland.Founded in 2019, by Nikhil Ramaswamy and Gokul NA, CynLr is attempting to overcome the technological gap in the industrial robotics industry by allowing robotic arms to see, understand, and operate any object in unstructured surroundings.
Between Aug 2019 and Apr 2022, CynLr had raised about USD 5.27 M from Anicut Capital, Arali Ventures, Growx Ventures, Speciale Invest and Z Nation Lab.For FY24, CynLr had reported about INR 2.01 Cr in Operating Income and about INR 9.33 Cr in Net loss.
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