US-based robot producer Savioke has raised $15m in a series A round led by Intel Capital, the corporate venturing subsidiary of chip maker Intel.
EDBI, the investment arm of the Singapore government’s Economic Development Board, and venture capital firm Northern Light Venture Capital also participated in the round.
Savioke produces a robot called Relay that is aimed at the hospitality sector. Relay (pictured) is able to autonomously deliver items such as towels or drinks, to hotel guests and is currently being used at six hotels across California.
The money will support increased sales, marketing and product development efforts for the robot.
Savioke has raised $17.6m to date. It previously secured seed capital in 2014 from GV, the corporate venturing arm of conglomerate Alphabet formerly known as Google Ventures, Morado Venture Partners, AME Cloud Ventures and assorted angel investors.
Wendell Brooks, president of Intel Capital, said: “Since the introduction of their Relay robot, the team at Savioke has done an exemplary job growing the market for service robotics.
“Intel Capital sees significant opportunity in this important new market, and we are pleased to invest in Savioke as its opportunity continues to expand.”
Swee-Yeok Chu, chief executive and president of EDBI, said: “EDBI is pleased to support Savioke’s activities in Singapore to advance the application of innovative robotics technology in the local services industry, and realise Singapore’s vision as a smart nation.
“Singapore’s progressive technology environment, together with our deep talent pool and vibrant ecosystem, is well positioned to accelerate Savioke’s growth plans in Asia with EDBI’s assistance and connections in the region.”
– Image courtesy of Savioke