VC Fund Investments
Robotics startup CynLr raises $4.5-M
Bengaluru-based robotics deeptech startup CynLr has raised USD 4.5 million in Pre-Series A funding round led by Speciale Invest and growX Ventures. The round also saw participation from other investors including Anicut Capital, Infoedge, Java Capital, Venture Catalysts and Arali Ventures. Angel investors including Srivats Ram (MD, Wheels India), Shriram Vijayaraghavan (president, Wheels India), Arvind Vasu (former Asia Head, ABB Technology Ventures), Nalin Advani (former CEO, Asia Pacific, GreyOrange Robotics) and Jayaram Pillai (former MD – India, Russia, Arabia, NI). With the current round, CynLr plans to enter the US market, scale its team and also, build capacity to address the current pipeline of customers and deliver 100 robots annually. CynLr automates the manual labour involved in the manufacturing processes. The startup intends to simplify manufacturing through its visual robots or object computers, just as the computers simplified data processing. In 2019, CynLr raised INR 5.5 Cr in a seed funding round.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
