Indian robotics startup CynLr has raised $10 million in Series A funding to enhance its advanced robotics solutions. The investment was led by Pavestone and Athera Venture Partners (formerly Inventus India), with contributions from existing backers Speciale Invest, Infoedge’s Redstart, and others.
This latest round brings CynLr’s total funding to $15.2 million. The capital will be allocated toward expanding the company’s supply chain network and increasing the workforce from 60 to 120 members, with additional teams in India, the US, and Switzerland. CynLr aims to bolster its research and software development capabilities, as well as its sales and marketing efforts to drive broader adoption of its robotics technology.
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Building the ‘factory-as-a-product’ concept with enhanced robotic technology
CynLr is working on a technological solution that aims to resolve a long-standing issue in robotics: the challenge of enabling robots to recognize, manipulate, and interact with objects in unstructured environments without extensive pre-programming. The company’s CyRo system—a three-armed, modular robot—uses a proprietary vision system called CLX-01, which functions similarly to human eyesight.
This system can perceive object depth dynamically, even for transparent or reflective objects, by employing real-time motion and convergence through dual lenses. This technology, known as “Event Imaging,” enables CyRo to function with high precision under various lighting conditions.
Gokul NA, co-founder of CynLr, highlighted the progress made with CyRo, explaining, “With the CyRo form factor receiving a resounding response from customers, technology-market fit has been firmly established. These customers are now eager to integrate CyRo into their production lines and experiment with the transformational vision of a ‘Universal Factory’ that can profitably produce custom-fit consumer goods, even at low volumes.”
Expanding manufacturing capacity and strategic vision
With this new investment, CynLr is setting ambitious targets to scale its manufacturing capacity. The company’s goal is to produce one robotic system per day, which it estimates will help it achieve $22 million in revenue by 2027. To meet this target, CynLr will rely on a complex supply chain that sources over 400 parts across 14 countries, alongside expanded infrastructure for support and sales.
According to Nikhil Ramaswamy, CynLr’s co-founder overseeing sales and market strategy, the new funding will also support deeper R&D efforts. This research will drive more advanced applications, such as plant-level automation for customers like General Motors, where a standardized robotic platform is needed to handle the variability of assembling 22,000 different parts. CynLr is also developing a concept called an “Object Store,” which Ramaswamy describes as a platform similar to app stores today, where customers can download various task applications to configure robots instantly.
Investor perspectives on the future of automation
CynLr’s backers see its technology as paving the way for transformative shifts in automation. Sridhar Rampalli, Managing Partner at Pavestone Capital, noted that the “Universal Factory” concept aims to eliminate minimum order quantity bottlenecks, allowing factories to reconfigure production lines with ease. Rampalli added that CynLr’s vision of “product-agnostic” factories could one day enable manufacturers to produce entirely new goods simply by updating robot programming.
Vishesh Rajaram, Managing Partner at Speciale Invest, emphasized the high costs of custom automation today, stating that setting up an industrial robot can often be three times as expensive as the robot itself due to customization. Rajaram views CynLr’s technology as a solution to this financial barrier, streamlining customization and potentially reducing costs for companies looking to adopt robotics.
Similarly, Samir Kumar from Athera Venture Partners highlighted the significance of CynLr’s breakthrough in enabling robots to perform simple yet delicate tasks, like inserting screws accurately. This capability could help manufacturers improve efficiency and production value, which are critical in today’s competitive market.
CynLr’s expansion plans include a new research facility in Prilly, Switzerland, which was inaugurated during the Swiss Indian Innovation Week in September 2024. Located at the Unlimitrust Campus, the center will collaborate closely with research partners like EPFL’s LASA (Lausanne) and CSEM (Neuchâtel) to further develop CynLr’s robotic vision technology. The company’s 13,000-square-foot robotics lab in Bengaluru, currently housing 25 robotic systems, will also grow to host more than 50 robots by 2026.
What do we think about the startup
CynLr’s vision to build “Universal Factories” that can adapt quickly to different production needs marks a potentially disruptive shift in industrial automation. By addressing key challenges in object manipulation and customization, the company aims to make robotic automation more accessible and flexible for a range of industries.
With significant funding now in place, CynLr is poised to advance its technology and expand its presence across global markets, positioning itself as a prominent player in next-generation manufacturing solutions.
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