CynLr Secures $10M Series A to Transform Robotics and Manufacturing

CynLr has successfully raised $10 million in its Series A funding round, taking its total funding to $15.2 million. The round was led by Pavestone and Athera Venture Partners (formerly Inventus India), with participation from existing investors such as Speciale Invest, Infoedge (Redstart), and others.

Solving a Four-Decade-Old Challenge in Robotics

CynLr is tackling a long-standing problem in robotics: enabling machines to intuitively recognise and manipulate objects of various shapes, sizes, and forms. This breakthrough, which brings robots closer to the abilities of human-like manipulation, is key to realizing the “Factory-as-a-Product” vision. This vision aims to create adaptable, highly efficient manufacturing systems that can be quickly reconfigured for different tasks, streamlining production.

With this fresh round of funding, CynLr plans to expand its 60-member core team into a 120-member global workforce. The company will strengthen its research and development teams and build up its business, operations, marketing, and sales capabilities across India, the US, and Switzerland. CynLr recently opened a Design & Research Centre in Switzerland at the Unlimitrust Campus, Prilly, which will collaborate closely with the company’s research partners at EPFL LASA (Lausanne) and CSEM (Neuchâtel).

"With the CyRo form factor receiving a resounding response from customers, technology-market fit has been firmly established. These customers are now eager to integrate CyRo into their production lines and experiment the transformational vision of a 'Universal Factory' that can profitably produce custom-fit consumer goods, even at low volumes.

With the new round of funding, CynLr will focus to enhance its Hardware reliability, improve User experience by enhancing its SW performance and reduce costs for the customer. 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. " says Gokul NA, Founder - Design, Product & Brand, CynLr.

"CynLr’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 recipe from an online platform, makes factories to be product agnostic that can produce entirely new products out of same factory at a click of a button, is a future that we look forward to " - Sridhar Rampalli - Managing Partner, Pavestone Capital

"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. We are excited to be a part of their journey in building the factories of the future" - Vishesh Rajaram - Managing Partner, Speciale Invest

"Enabling an industrial robot to perform seemingly simple tasks (like inserting a screw without slipping, for example), is what CynLr has managed to crack. This breakthrough will enable the manufacturing industry to dramatically increase efficiency, and maximize the value of production setups," says Samir Kumar - GP,  Athera Venture Partners

CyRo: A Game-Changer in Robotic Automation

At the heart of CynLr’s offering is CyRo, a modular, three-armed, general-purpose robot that can intuitively pick and manipulate objects without prior training. Powered by CynLr’s proprietary Human-Eye inspired vision stack, CLX-01, CyRo can recognize depth and perform complex tasks even with transparent or highly reflective objects. CynLr plans to expand its current fleet of 25 robot systems in Bengaluru to over 50 by 2026.

Strategic Investments for Enhanced Product Capabilities

The "Universal Factory" Vision

Pavestone Capital's Managing Partner, Sridhar Rampalli, praised CynLr’s vision for the future of manufacturing, saying, "The concept of a 'Universal Factory' eliminates the minimum order quantity bottleneck, enabling on-demand production of custom products. We look forward to a future where factories are product-agnostic and can produce any item at the click of a button."

Revolutionizing Automation to Reduce Costs

With the Series A funding, CynLr is poised to push the boundaries of industrial automation and make significant strides toward transforming the manufacturing landscape. It is moving closer to realizing its vision of a flexible, adaptive, and efficient "Universal Factory."