Bengaluru-based robotics startup CynLr (Cybernetics Laboratory) has raised $10 million in a Series A funding round led by Pavestone and Athera Venture Partners (formerly Inventus India), with participation from existing investors, including Speciale Invest and Infoedge.
This new funding brings the total amount raised by the company to $15.2 million. The funds will be used to expand CynLr’s workforce, enhance its supply chain, and improve both hardware and software to reduce costs and enhance customer experiences.
Expanding Global Presence and Capabilities
As part of its expansion plan, CynLr intends to grow its robotics lab in Bengaluru, which currently houses 25 robotic systems, to more than 50 by 2026. The company is also targeting the production of one robot system per day and aims to reach $22 million in revenue by 2027. The funding will enable the company to expand its core team from 60 to 120 employees, and also recruit leaders for business, marketing, and operations in India, the US, and Switzerland.
Recently, CynLr opened a design and research center in Prilly, Switzerland, during the Swiss Indian Innovation Week. This center will collaborate closely with the company’s research partners, including EPFL LASA in Lausanne and CSEM in Neuchâtel.
Innovative Robotics Solutions
CynLr’s flagship product, CyRo, is a modular robot with three arms capable of intuitively handling a variety of objects without specific training. Powered by CynLr’s proprietary CLX-01 robotic vision system, CyRo uses real-time depth perception to handle objects of different sizes, shapes, and materials, even in challenging lighting conditions. This technology allows CyRo to operate in a wide range of environments, recognizing and manipulating transparent and reflective items.
Founder Gokul NA said, “With the positive response to CyRo from customers, we’ve confirmed that the technology-market fit has been established. These customers are now eager to integrate CyRo into their production lines, enabling them to create a ‘Universal Factory’ that can produce customized goods profitably, even at low volumes.”
Supply Chain and Manufacturing Growth
CynLr currently manages a supply chain of over 400 parts sourced from 14 countries. With the new investment, the company plans to scale its manufacturing capacity to meet its goal of producing one robot system per day and achieving $22 million in revenue by 2027.
Nikhil Ramaswamy, CynLr’s founder in charge of go-to-market strategy, sales, and investments, shared the broader vision: “With ongoing advancements in CyRo’s capabilities, we expect to significantly reduce costs and increase adoption, moving us closer to realizing an ‘Object Store’ platform, similar to today’s app stores, where customers can choose a set of applications and object models to instantly deploy the robot for any desired task.”
The rise of robotics startups is reshaping manufacturing industries, as more companies seek to automate processes. For example, BMW factories are already using humanoid robots, such as the Figure 02, to automate production tasks.
