PR Newswire - Eureka Robotics Raises USD 10.5 Million Series A to Accelerate Deployment of Physical AI for Precision Manufacturing and Logistics

• Advances the development and deployment of flagship products Eureka Controller and Eureka 3D Camera
• Scales operations in Singapore and Japan, and enables full entry in the US market

SINGAPORE, Dec. 12, 2024 /PRNewswire/ -- Singapore-based start-up Eureka Robotics ("Eureka" or "the Company") has raised a USD 10.5 million Series A round led by B Capital (a global multi-stage investment firm), with participation from new investors Airbus Ventures (an independent venture capital firm operating in service of deep tech entrepreneurs), Maruka Corporation (a publicly-listed Japanese trading company specialized in machinery),  G. K. Goh Ventures (a Singapore-based early-stage investment firm), and returning investors UTEC (one of Asia's largest deep-tech investment firms) and ATEQ (a market-leading manufacturing company in leak testing).

"Eureka Robotics was founded in 2018 with the mission of helping factories worldwide automate dull, dirty, and dangerous work, so that human workers can focus on their creative endeavors. We are proud to reach the next stage of our development, with the support of our investors and the cooperation of our esteemed customers and partners. We will continue to make further efforts to bring our innovative technology to society," said Co-founder & CEO Dr. Pham Quang Cuong.

The financing round positions the company to accelerate the development and deployment of its main products, Eureka Controller and Eureka 3D Camera. Eureka Controller, a comprehensive solution for vision and robotics applications, enables high-precision calibration and robust force control, and acts as a central hub for connecting and controlling a wide range of industrial devices.

Eureka 3D Camera, designed to add efficient and cost-effective 3D vision capabilities to robotic systems, uses ground-breaking AI-based, projector-free 3D reconstruction technology. Together, these products enable System Integrators and Manufacturers to deploy High Accuracy – High Agility ("HA-HA") applications including picking, object recognition, inspection in factories and warehouses, allowing robots to perform tasks with greater precision.

The funding will also help scale the company's operations in existing markets of Singapore and Japan, as well as enable Eureka to fully enter the US market, where the company has already acquired initial customers. Using the funds obtained in the previous Pre-Series A round led by UTEC, Eureka had established a branch office in Tokyo and gained significant traction in the Japan market. With additional funding, Eureka plans to expand operations into new major Japanese cities, such as Nagoya and Osaka.

Eureka's proprietary HA-HA (High Accuracy – High Agility) technology bridges the gap between AI and physical manufacturing, combining high-agility intelligence with high-accuracy spatial precision. This innovation enables robots to handle complex tasks, such as autonomously assembling car engines, with both adaptability and micron-level precision. Eureka has successfully implemented this technology in real-world factory settings, completing over 25 million operations for industry leaders in Japan and the United States, including Toyota, Denso, Bridgestone, Mitsui Fudosan, Sumitomo Bakelite, Pratt & Whitney, and Coherent.

"Eureka Robotics is at the forefront of the next wave of embodied AI and industrial automation, combining High Precision - High Agility robotics with advanced mechanics and data science. Their innovative solutions are revolutionizing manufacturing processes across industries, addressing the increasing complexity and critical nature of assembly line operations with efficiency and precision. We're excited to have the opportunity to partner with the Eureka team to drive their global expansion as they redefine the possibilities of industrial automation," said B Capital General Partner, Karan Mohla.

About Eureka Robotics

Empowered by Robotics and AI research from NTU Singapore, MIT, and the University of Tokyo, Eureka Robotics delivers robotic software and systems to automate tasks that require High Accuracy and High Agility (HA-HA).

Eureka's strengths lie in its proprietary technologies (High Accuracy Calibration, Computer Vision, Motion Planning, Force Control) and extensive industrial deployment experience, with more than 25 million HA-HA operations to date in factories worldwide. With offices in Singapore, Vietnam, Japan and distribution partners in China and the USA, Eureka prides itself on helping clients, globally, achieve vastly improved productivity, lower costs, and better safety. Common uses include AI-based Inspection, Precision Handling, 3D Picking, Assembly, or Dispensing. Eureka's customers include industry-leading companies such as Toyota, Denso, Bridgestone, Mitsui Fudosan, Sumitomo Bakelite from Japan, or Pratt & Whitney, Coherent, Excelitas from the USA. Eureka is backed by top global Venture Capital firms.

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