Funding Alert! CynLr Raises $10M to Revolutionize Manufacturing

Bengaluru-based deeptech robotics startup, CynLr, has raised $10 million in Series A funding, fueling its mission to revolutionize industrial automation with robots that "see" like humans.

CynLr (Cybernetics Laboratory), a rising star in the Indian deeptech ecosystem, has just secured $10 million in a Series A funding round. This injection of capital, led by Pavestone and Athera Venture Partners (formerly Inventus India), brings CynLr's total funding to an impressive $15.2 million. The round also saw participation from existing investors, including Speciale Invest and InfoEdge's Redstart, underscoring their continued confidence in CynLr's vision.

CynLr Funding

This latest funding round will be instrumental in accelerating CynLr's growth trajectory. The company plans to double its team size to 120 employees, expanding its footprint across India, the US, and Switzerland. This expansion will focus on bolstering key areas such as research and software development, while also strengthening business functions like sales and operations.

"With the new round of funding, CynLr will focus on enhancing its hardware reliability, improving the user experience by enhancing its SW performance, and reducing costs for the customer," said Gokul NA, Founder, Design, Product, and Brand, CynLr.

CynLr is not just growing its team but also its global reach. A significant milestone for the company was the recent inauguration of its Design and Research Center at the Unlimitrust Campus in Prilly, Switzerland. This center, inaugurated by Prilly's Mayor Alain Gillièron during the Swiss-Indian Innovation Week, will play a crucial role in collaborating with renowned Swiss research institutions like EPFL LASA and CSEM.

Read More: Swiggy IPO: What's This Food Tech Startup Delivering to Investors?

The Secret Sauce: CyRo and "Event Imaging"

At the heart of CynLr's groundbreaking technology is CyRo, a unique, modular, three-armed robotic system. What sets CyRo apart is its "brain" - CLX-01, a proprietary vision stack inspired by the intricacies of human vision. Unlike conventional machine learning systems that rely on static data, CLX-01 utilizes "Event Imaging." This revolutionary capability allows CyRo to dynamically capture depth and detail using real-time motion, even in challenging lighting conditions. This means CyRo can effortlessly handle transparent or reflective objects, a feat that has long plagued traditional robotic systems.

"CynLr manages an extensive supply chain of 400+ parts sourced across 14 countries and will expand its manufacturing capacity to achieve the goal of deploying one robot system per day and reach the $22 million revenue milestone by 2027," Gokul NA added.  

Towards the Universal Factory

CynLr's vision extends beyond just building advanced robots. The company is on a mission to transform the manufacturing landscape with the concept of "Universal Factories." Imagine factories that can seamlessly switch between producing entirely different products with just a few clicks, eliminating the limitations of traditional production lines. This is the future CynLr is building.

"CarL's concept of a 'Universal Factory' will simplify and eliminate the Minimum Order Quantity bottleneck for manufacturing. Furthermore, the idea of changing automation by simply downloading task recipes from an online platform makes factories product-agnostic, capable of producing entirely new products out of the same factory at a click of a button - this is a future that we look forward to," said Sridhar Rampalli, Managing Partner, Pavestone Capital.

Read More: Startup Tips From Ankur Warikoo: How Startups Go from Zero to IPO

Breaking Down Barriers in Automation

CynLr's technology addresses a critical bottleneck in industrial automation – the high cost and time required for customization.

"Automating using a state-of-the-art industrial robot today costs 3x the price of a robot in customization, along with 24+ months of design modifications. This is the significant technological bottleneck that the team at CynLr is solving, paving the way for long-overdue evolution in automation," added Vishesh Rajaram, Managing Partner, Speciale Invest.

With its innovative technology, strong team, and ambitious vision, CynLr is poised to become a leading force in the future of robotics and advanced manufacturing. This latest funding round will undoubtedly accelerate its journey towards making the "Universal Factory" a reality.

Join Our Thriving Entrepreneurial Community

Follow TICE News on Social Media and create a strong community of Talent, Ideas, Capital, and Entrepreneurship. YouTube  | Linkedin | X (Twitter) | Facebook | News Letters