CynLr, Indian deep tech robotics startup, raises $10M Series A funding

India-based CynLr, a deep tech robotics startup, raised $10M in a new round of Series A funding led by Pavestone and Athera Venture Partners (formerly Inventus India), bringing its total funding to $15.2M. Existing investors Speciale Invest, Infoedge (Redstart) and others also participated in this round of fundraising.

CynLr said it is building the missing layers of fundamental technology that will enable the robots to intuitively recognize and manipulate even unknown objects of any shape, color, size and form, just like a human baby might. Solving this four-decade-old problem in robotics will be the key, according to CynLr, to achieving the concept of “Factory-as-a-Product."

Company will expand team, network

CynLr will now expand its 60-member core team into a 120-member global team. Along with expanding its Research & Software-Dev team, CynLr will be hiring Business and Operational leaders, Marketing and Sales teams across India, US and Switzerland.

CynLr's Design & Research Centre in Switzerland (Unlimitrust Campus, Prilly) was opened recently by Alain Gillièron, Mayor of Prilly during Swiss Indian Innovation Week in late September 2024. The Switzerland Centre will work closely with CynLr's Research partners in EPFL LASA (Lausanne) and CSEM (Neuchâtel).

Currently, CynLr's 13,000sq. ft Robotics Lab in Bengaluru hosts a hive of 25 robot systems, which it plans to expand to over 50 by 2026.

CyRo, the 3-armed, modular, general-purpose, dexterous robot system is CynLr's first product that can intuitively pick any object without training and can be quickly configured for complex manipulation tasks.

"With the CyRo form factor receiving a resounding response from customers, technology-market fit has been firmly established,” said Gokul NA, founder - design, product & brand at CynLr. These customers are now eager to integrate CyRo into their production lines and experiment the transformational vision of a 'Universal Factory' that can profitably produce custom-fit consumer goods, even at low volumes.”

NA also said CynLr will use the funding to expand its manufacturing capabilities to achieve the company’s goal of deploying one robot system per day and reach $22M in revenue by 2027.

CyRo is powered by CynLr's proprietary Human-Eye inspired robotic vision stack - CLX-01. Unlike traditional machine learning vision systems which rely only on pre fed data, CLX-01 uses real-time motion and convergence of its two lenses to dynamically see depth of unknown objects. This technology, called Event Imaging and developed at CynLr, is highly agnostic to lighting variations, even for transparent and highly reflective objects.

"This round of investments will help us focus on deeper R&D to build more complex applications and solutions for our customers,” said Nikhil Ramaswamy, founder - GTM, sales & investment at CynLr. With the current momentum of breakthroughs in CyRo's capabilities, we will be able to substantially reduce costs and drive adoption, bringing it closer to realizing the possibility of creating an 'Object Store,' a platform similar to today's app stores, allowing customers to pick a recipe of applications and object models to have the Robot instantaneously perform a desired task.”