Eureka Robotics Raises $4.2M for High Accuracy Robots
Eureka Robotics, the company behind the IkeaBot (a viral robot that can build Ikea furniture faster and better than humans) has raised $4.25 million in its latest funding round.
The pre-Series A round was led by the University of Tokyo Edge Capital Partners (UTEC), Vietnamese group Touchstone Partners and returning investor ATEQ.
The funds will be used to accelerate development of the group’s flagship product: the Eureka Controller. Designed to assist in factories and system integrators, the platform can be integrated into robotic solutions to improve accuracy and robotic vision; most recently seen in the group’s Archimedes robotic arm, deployed for the delicate task of handling optical lenses and mirrors.
Eureka Robotics is a team of researchers from Nanyang Technological University in Singapore and MIT collaborating to create robotic software and systems to automate tasks that require high accuracy and high agility (HAHA) – used for industrial and commercial tasks such as precision handling, assembly, drilling and inspection. The group’s self-proclaimed vision is to “automate the mundane,” and free the human workforce from repetitive and dull tasks.
In addition to accelerating its product pipeline, the group has plans to expand operations, with new offices planned for Japan and Vietnam, while it also looks to extend commercialization opportunities into France and Singapore.