Eureka Robotics, a Singapore-based robotics and AI startup, announced it has successfully closed a $10.5 million Series A funding round. Spearheaded by global investor B Capital, the investment sets the stage for the company to expedite the enhancement and distribution of its primary products—the Eureka Controller and the Eureka 3D Camera.
The Eureka Controller is positioned as a multi-purpose tool for vision and robotics solutions. According to the company, it offers advanced features like high-precision calibration and robust force control, functioning as a centralized hub for integrating and managing various industrial devices. Meanwhile, the Eureka 3D Camera is engineered to deliver efficient and economical 3D vision capabilities through its AI-driven, projector-free 3D reconstruction technology.
These innovative products are targeted at systems integrators and manufacturers, facilitating the deployment of high-accuracy, high-agility (commonly referred to as HA-HA) applications. These technologies are already being utilized in picking, object recognition, and inspection tasks, enhancing precision and efficiency in factories and warehouses.
Eureka Robotics is keen to extend its technology's reach across the Atlantic, with plans to establish a significant presence in the United States. The firm, drawing upon robotics and AI research from strategic partners at NTU Singapore, MIT, and the University of Tokyo, claims that this recent funding round will be pivotal for scaling its operations, not only in Singapore and Japan but especially in the competitive U.S. market, where it already has initial customers.
The company made headway in the Japanese market following its pre-Series A funding, which was led by UTEC. Establishing a branch in Tokyo, Eureka Robotics gained considerable traction and now aims to penetrate other major industrial hubs such as Nagoya and Osaka. The move is part of a larger strategy to solidify its footprint in Japan's robust manufacturing sector.
Central to Eureka's offering is its proprietary HA-HA technology, purported to bridge the divide between AI and practical manufacturing. This technology enables robotic systems to perform complex tasks, such as the autonomous assembly of car engines, with remarkable adaptability and micron-scale precision.
Eureka’s solutions are not confined to academic settings but have already seen real-world applications. Its systems have conducted over 25 million operations for global industry leaders, boasting collaborations with major enterprises such as Toyota, DENSO, Bridgestone, Mitsui Fudosan, and Sumitomo Bakelite in Japan, as well as notable players like Pratt & Whitney, Coherent, and Excelitas in the United States.
The Series A funding attracted a diverse group of investors. Alongside B Capital, new backers included Airbus Ventures, a deep-tech venture capital firm specializing in emergent technologies; Maruka Corp., a machinery-focused Japanese trading company; and G. K. Goh Ventures, an early-stage investment firm from Singapore. Returning investors from the pre-Series A stage, such as UTEC and ATEQ, a manufacturing company in leak testing, also participated in this round.
Eureka Robotics’ CEO and co-founder, Dr. Pham Quang Cuong, expressed gratitude for reaching this pivotal milestone. He stated, "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."
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