CtrlWorks Announces Seed Funding of S$1.3M
Singapore-based robotics startup CtrlWorks has announced the completion of its seed funding round totalling S$1.3 million. The round is led by Wavemaker Labs and includes the National Research Foundation (under the Technology Incubation Scheme) as well as strategic and angel investors.
The company specialises in cloud-based robotics applications, with a particular focus on autonomous guidance and navigation. Most intelligent robotic systems today rely heavily on onboard / in-unit processors. This increases their size, weight, and cost as additional power and processors are needed for each individual unit. By moving the most intensive data processing to the cloud, individual units can now be made smaller and at lower cost.
Co-founder and CEO, Sim Kai, said that advances in cloud technology are enabling more things to be done at lower cost than before. The company’s flagship product, the Axon, is an autonomous guidance system that can be integrated into different existing platforms via its proprietary CloudNav system. For example, a commercial floor-cleaning machine can be integrated with the Axon and turned into an unmanned and fully autonomous unit.
Mr Sim added that the company has received significant interest from trade partners, and currently has a number of local and overseas clients.
Most of the funding will be used to expand its R&D capabilities, as well as to accelerate commercialisation plans in the region as well as in selected overseas markets.
In addition to this funding round, the company has also received additional investments as a result of its selection and participation in the Qualcomm Robotics Accelerator programme.