SVT Robotics, a provider of software that orchestrates robots in warehouses and factories, has raised $25 million in series A funding led by Tiger Global with participation from Prologis Ventures, the company announced this morning. SVT says that it’ll use the new capital to bolster its product R&D and expand its customer outreach efforts.
According to cofounder and CEO A.K. Schultz, SVT’s platform helps customers to solve the growing “interoperability problem” in industrial automation. The industry is severely limited by its capacity to execute, he says. Integrations are typically custom-coded, translating to long, complex development cycles. A recent piece in Industry Today finds that factors ranking among the top concerns of manufacturers adopting automation include a lack of experienced workers to operate the machines, high transition expenses, and safety concerns.
“It’s expensive, and companies wait as much as a year or more for new automation to go live,” Schultz said in a statement. “Solving that problem with [SVT’s platform] empowers the market to grow at its full potential.”
Comments are closed.