Singapore-based autonomous technology solutions startup Sesto Robotics has raised US$5.7 million in fresh funding from SEEDS Capital and early-stage venture investors TRIVE, and Germany-based WTI GmbH.
With the fresh funding, Sesto Robotics will develop its autonomous mobile robot (AMR) capabilities and digital marketing. In addition, the company will utilize the funds to enhance its capabilities to support overseas partners and extend the line-up of AMR applications.
“Having WTI as a strategic investor at this stage of our company’s development helps us to expand into the important European and German market that is the home of Industry 4.0,” said its chief executive officer Chor-Chen Ang in a press statement on Thursday (Jan 13).
Josef Wildgruber, the owner of WTI GmbH and CEO of BBS Automation, added: “In Sesto Robotics, we see a company that has developed AMR solutions that can scale overseas and have been designed and built according to safety requirements in Europe. We have performed our due diligence and believe SESTO has a bright future ahead”.
Founded in 2017 by Jefff Tang, Ng Loong, Michael Leong, and Peter Ho, Sesto Robotics provides a platform for global companies seeking an intelligent, flexible, and safe solution to improve productivity with automated guided vehicles.
Sesto Robotics delivers and engineers robotics solutions to global clients. Its autonomous mobile robots and automated guided vehicles have been employed by companies in healthcare and manufacturing.
In Europe, the company aims to tap into the growth of autonomous mobile robots, projected to expand at a CAGR of 11.8 per cent over the next four years from US$4.40B currently.
The startup has previously raised funding from Singtel Innov8, Temasek-owned investment firm Heliconia Capital, and Koh Boon Hwee.
In May 2021, the company partnered with Baumuller Anlagen-Systemechnik a German-based automation specialist to take Sesto Magnus, its flagship AMR to Baumuller’s consumer base in Switzerland, Austria, and Germany.