Singapore-based industrial robotics company Sesto announced a $5.7 million raise this week, along with TRIVE, WTI GmbH and SEEDS Capital (the VC wing of Enterprise Singapore). The round follows a similarly sized $4 million Series A in 2018.
Sesto has had a busy few years since this cycle – like many in the industrial robotics category, as more companies have turned to automation during the pandemic. In May 2020, the firm released HealthGUARD, a sanitizing robot that was ahead of the curve of UV-C systems we’ve seen in recent years.
In August, the company added Magnus to its line of AMRs (autonomous mobile robots). This system works the same way as a number of autonomous warehouse robots and looks a bit like the systems developed by Kiva (now owned by Amazon). Their modular design means that various accessories can be fitted to the robots for additional functionality, a plus for companies looking to quickly deploy an autonomous support army. This includes things like Sesto Prime, a 7-axis robotic arm designed specifically for semiconductor production – a manufacturing category no doubt looking forward to expanding into automation.
Last May, Sesto expanded its operations to Europe, in particular to Austria, Germany and Switzerland. This undoubtedly explains the interest in investment from EU-based companies. Citing research from GMD, CEO Chor-Chen Ang notes of the round: for the next 4 years from 4.40 billion US dollars. currently.”
The funding will be used to expand these types of international, market partnerships, as well as expand the company’s product offerings and the versatility of its existing robots.