#Singapore #AI Technology #Eureka Robotics #Precision Manufacturing

Eureka Robotics Secures USD 10.5 Million in Series A Funding

Eureka Robotics, a Singapore-based startup, has successfully completed a Series A funding round, raising USD 10.5 million. This round was led by B Capital, a prominent multi-stage investment firm, with contributions from Airbus Ventures, Maruka Corporation, G. K. Goh Ventures, and returning investors such as UTEC and ATEQ.

Founded in 2018, Eureka Robotics aims to help factories automate tedious, hazardous, and repetitive tasks, enabling human workers to focus on more creative pursuits. Dr. Pham Quang Cuong, co-founder and CEO, expressed pride in reaching this developmental milestone, emphasizing the importance of collaboration with customers and partners in bringing their innovative technology to wider society.

Accelerating Product Development

The funding will be instrumental in enhancing the development and deployment of Eureka Robotics' flagship products, namely the Eureka Controller and Eureka 3D Camera. The Eureka Controller serves as a comprehensive solution for various vision and robotics applications, allowing for high-precision calibration and robust control of industrial devices. In contrast, the Eureka 3D Camera introduces groundbreaking AI-driven, projector-free 3D reconstruction technology, which provides efficient and economical 3D vision capabilities to robotic systems.

These products together facilitate the implementation of High Accuracy – High Agility (HA-HA) applications in manufacturing and logistics. Tasks such as automated picking, object recognition, and detailed inspections in factories and warehouses can now be performed more accurately and efficiently, revolutionizing production lines.

Expansion Plans

The financial support will not only bolster operations in Singapore and Japan but will also pave the way for a full-scale entry into the US market. Eureka has made initial strides by acquiring its first customers there and is poised to expand further. Utilizing funds from a previous investment round, Eureka established a presence in Tokyo with successful operations, and now with additional resources, the company plans to grow into other major Japanese cities like Nagoya and Osaka.

Eureka's HA-HA technology effectively combines AI capabilities with the demands of physical manufacturing, enabling robots to execute intricate tasks with precision. This includes advanced functions like autonomously assembling complex machinery such as car engines while ensuring the adaptability and micron-level accuracy necessary for modern production cycles.

Proven Success and Future Growth

To date, Eureka Robotics has executed over 25 million operations across various sectors, serving notable industry leaders including Toyota, Denso, Bridgestone, and Pratt & Whitney in both the Japanese and US markets. This impressive track record showcases the capability of their technology to meet the rigorous demands of implicit manufacturing challenges.

Karan Mohla, General Partner at B Capital, remarked on the partnership's potential to drive global expansion, as Eureka Robotics is set to redefine what is possible in industrial automation with its innovative and efficient solutions.

Eureka Robotics has established itself as a leader in the next generation of embodied AI and industrial automation, leveraging its expertise in robotics and AI research from institutions like NTU Singapore, MIT, and the University of Tokyo. By utilizing its proprietary technologies—such as High Accuracy Calibration, Computer Vision, Motion Planning, and Force Control—Eureka aims to significantly enhance productivity and safety standards for its clients worldwide. As it continues to evolve, the company is dedicated to offering practical automation solutions that enhance operational efficiency while reducing overhead costs.

Conclusion

As manufacturing and logistics industries face increasing complexity, the advancements made by Eureka Robotics represent not only a step forward in technology but also a commitment to pushing the boundaries of what industrial automation can achieve. With the recent funding, the startup is well-positioned to make even greater strides towards success in a rapidly evolving sector.