Singapore-based industrial robotics company Sesto this week announced a $5.7 million increase, which includes TRIVE, WTI GmbH and SEEDS Capital (the venture capital wing of Singapore). The tour follows a similar $4 million Series A, in 2018.
Sesto has had a busy few years since that round — as has so much in the industrial robotics category, as more companies look toward automation during the pandemic. In May 2020, the company launched HealthGUARD, a disinfecting robot that was ahead of the curve of UV-C systems we’ve seen over the past few years.
In August of that year, the company added Magnus to its portfolio of AMRs (autonomous mobile robotics). This system works similarly to a number of standalone warehouse bots, and looks somewhat like the systems developed by Kiva (currently owned by Amazon). Its modular design means many accessories can be mounted on top of the robots for additional functionality, an added benefit for companies looking to quickly deploy an army of autonomous assistance. That includes things like Sesto Prime, a 7-axis robotic arm designed specifically for semiconductor production — a class of manufacturing that is undoubtedly looking to expand into automation.
Last May, Sesto expanded its operations into Europe – specifically Austria, Germany and Switzerland. No doubt, this explains the interest in investing in this round of EU-based companies. Citing research from GMD, CEO Chor-Chen Ang noted the round, “We are excited to benefit from the growth of mobile autonomous robots in Europe which is expected to expand at a compound annual growth rate of 11.8% over the next four years from US$4.40 billion currently. .”
The funding will go toward expanding these types of international partnerships, and the marketplace, as well as building the company’s product offerings and diversifying the robots it has in place.