Following a $4 million Series A in 2018, Singapore-based industrial robotics startup Sesto raised another $5.7 million this week led by TRIVE, WTI GmbH and SEEDS Capital. Sesto has been busy developing industrial robots for the past few years and has turned its sights on automation during the pandemic.
In May 2020, Sesto Robotics launched HealthGUARD, a disinfection robot. In August of the same year, Magnus was added to the company's family of autonomous mobile robots (AMRs).
The system works much like an autonomous warehouse robot developed by Kiva, which is owned by Amazon.
Thanks to its modular design, it is also able to mount various accessories on the robot to provide additional functionality. The Sesto Prime with its 7-axis robotic arm, for example, is designed for semiconductor production.
In May last year, Sesto expanded into Europe - particularly Austria, Germany and Switzerland - and has sparked interest from EU investors.
Citing GMD research data, the company's CEO, Chor-Chen Ang, said it was pleased to ride on the growth of the European autonomous mobile robot market. The projected compound annual growth rate over the next four years is an additional 11.8 percent from the current $4.4 billion.
As for the latest round of $5.7 million in funding, Sesto hopes to use it to further expand international markets and establish partnerships, expand the company's product offerings, and add more features to existing robots.
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