Robotics firm Southie Autonomy nabs $2.5Mn in seed funding round

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Southie Autonomy, a leading developer of intelligent robotic automation, has recently announced that it has secured $2.5 million in the seed funding round held by BootstrapLabs, an early-stage venture capital firm that focuses on applied AI (Artificial Intelligence) and with the participation of Ocean Azul.

In addition to this funding, Kineo Finance was engaged in the equity round and offered an additional $5 million funding in venture leasing to support Southie Autonomy’s robot-as-a-service (RaaS) business model.

Currently, supply chain disruption and shortage of labor are evident issues for both global and domestic businesses which have augmented the need for automation. However, several existing solutions available in the market are complex, costly and time-consuming.

Southie’s solution provides flexible and fast automation, thereby creating a turnkey cell that can adjust to fluctuating demands and enhance efficiency and margins. With the introduction of Southie Autonomy’s no coding robotic arm, manufacturers no longer require additional engineering expertise and programming to merge and manage the automation.

The platform employs AI and augmented reality to automate several functions and the no coding robotic arm software solution can be configured within a couple of minutes thereby eliminating the hectic setup burden. This software solution fits easily with any robotic hardware and currently, it is increasingly being adopted by numerous customers.

Rahul Chipalkatty, Founder & Chief Executive Officer at Southie Autonomy, said that until now it was extremely expensive, complex and time-consuming to reprogram robots to carry out different tasks, leading to automation ROI plunging down.

With the introduction of Southie Autonomy’s AI-backed up robotic automation platform, it will take only few minutes and no coding would be required.

He also added that this will be a turning point for the industry and with the Robot-as-a-Service business model, the company is anticipated to augment the deployment of collaborative robots across several organizations and industries.

Source Credit: https://www.businesswire.com/news/home/20220509005108/en/Southie-Autonomy-Secures-2.5-Million-Seed-Funding-5M-in-Robot-Lease-Financing