Sesto Robotics Secures $5.7M for International Expansion

Sesto Robotics Secures $5.7 Million Funding

Sesto, an industrial robotics company headquartered in Singapore, has recently announced a successful funding round of $5.7 million. This investment included participation from TRIVE, WTI GmbH, and SEEDS Capital, which is the venture capital arm of Enterprise Singapore.

The current funding round builds upon a previous $4 million Series A investment secured in 2018.

Recent Developments and Product Launches

The past several years have been particularly active for Sesto, mirroring the broader trend of increased automation adoption within the industrial robotics sector, especially accelerated by the pandemic. In May 2020, the company introduced HealthGUARD, a robot designed for disinfection purposes.

This system utilized UV-C technology and anticipated the growing demand for such solutions.

Further expanding its product portfolio, Sesto unveiled Magnus, an AMR (autonomous mobile robot), in August of the same year. Magnus functions in a manner comparable to other autonomous robots commonly found in warehouse environments.

Its design shares similarities with systems originally developed by Kiva, which is now a part of Amazon.

Modular Design and Semiconductor Focus

A key feature of Sesto’s robots is their modularity. This allows for the attachment of various accessories, enhancing their functionality and providing flexibility for companies seeking rapid deployment of automated assistance.

One example is Sesto Prime, a 7-axis robotic arm specifically engineered for the semiconductor manufacturing industry – a sector actively pursuing automation solutions.

European Expansion and Market Growth

In May of last year, Sesto broadened its operational reach into Europe, establishing a presence in Austria, Germany, and Switzerland. This expansion likely contributed to the investment interest from European-based firms in this funding round.

CEO Chor-Chen Ang highlighted the potential of the European AMR market, citing research from GMD. He noted a projected Compound Annual Growth Rate (CAGR) of 11.8% over the next four years, with the market currently valued at US $4.40 billion.

Future Plans and Funding Allocation

The newly acquired funding will be strategically allocated to strengthen international partnerships and expand market reach. Furthermore, resources will be dedicated to enhancing the company’s product line and increasing the adaptability of its existing robotic systems.

This includes ongoing development to broaden the capabilities of their AMR platforms.