Rapyuta Robotics, an India-based developer of cloud-connected machines, raised $10m yesterday in a series A round led by SBI Investment, a venture capital subsidiary of financial services group SBI Holdings.
Founded in 2014, Rapyuta is working on cloud-connected autonomous robots and is beginning with the development of multi-robotic systems for the security sector. It was spun out of research conducted at university ETH Zurich in Switzerland.
Rapyuta will use the brunt of the series A capital to grow its engineering team in a bid to accelerate development of its technology.
The startup, which aims to bringing a prototype of its cloud robotics platform to the market in the next year, also plans to invest in business development, sales and marketing. It intends to launch an open-source version of its platform in early 2017 and an enterprise-ready version later in the year.
The round took Rapyuta’s total funding to $13m and follows seed funding from SBI and VC firm Cyberdyne in January 2015, and $500,000 from the Swiss government.