Singapore-based Sesto Robotics targets international expansion with $5.7M raise

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Singapore-based industrial robotics firm Sesto this week announced a $5.7 million raise from companies including Trive, WTI GmbH and Seeds Capital (the VC wing of Enterprise Singapore). The round follows a similarly sized $4 million Series A in 2018.

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Sesto has had a busy few years since that period – as have many in the industrial robotics category, as more companies turn to automation during the pandemic. In May 2020, the firm launched HealthGUARD, a germicidal robot that was ahead of the curve of the UV-C systems we’ve seen in the past few years.

That August, the company added Magnus to its lineup of AMRs (autonomous mobile robots). The system operates in much the same way as many autonomous warehouse robots, and resembles systems developed by (now-Amazon-owned) Kiva. Their modular design means that various accessories can be mounted on top of the robot for added functionality, as well as for companies looking to rapidly deploy an army of autonomous assistance. This includes things like the Sesto Prime, a 7-axis robotic arm designed specifically for semiconductor production – a range of manufactures no doubt eager to expand into automation.

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Last May, Sesto expanded operations in Europe – specifically Austria, Germany and Switzerland. No doubt that explains the investment interest in this round from EU-based firms. Citing GMD’s research, CEO Chor-Chen Eng notes to the round, “We are excited to leverage the growth of Autonomous Mobile Robots in Europe to generate US$4.40B over the next 4 years.” Estimated to expand at a CAGR of 11.8% at present.”

Funding will go toward such international partnerships, expanding the market, as well as building on the company’s product offerings and the versatility of its existing robots.

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