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Eureka Robotics, a company founded by the team behind the IkeaBot, announced that it brought in $4.25 million in pre-Series A funding.
The University of Edge Capital Partners (UTEC), a deep-tech investment firm, led the funding round. Touchstone Partners, a Vietnamese venture capital firm, and ATEQ, a participant in the company’s seed funding round, also participated.
Eureka’s automation technology builds on research from Nanyang Technical University in Singapore and MIT. The company seeks to automate tasks that require high accuracy and high agility (HAHA), and its robots are able to detect and locate objects with sub-millimeter accuracy.
The company’s flagship product is its Eureka Controller, which allows factories to employ HAHA tasks in System Integrators and factories. The controller is equipped with its high-accuracy calibration and Force Control, which gives it the ability to perform tight assembly and insertion, with clearance down to 50 micron.
The applications for Eureka’s products include handling for coating of high-power laser lenses, handling for cleaning and inspection of 5G telecom lenses, shaft and hole assembly for engine manufacturing and connector insertions.
Eureka plans to use the funding to accelerate the development of its controller, in part by growing the company’s software engineering team and product team.
The company also plans on expanding its commercialization capabilities in Singapore and China, and establish new offices in Japan and Vietnam. Eureka currently has offices in Singapore and France and distribution partners in China, Japan and the US.
Eureka spun off from Nanyang Technological University in 2018, and in 2019 the company launched its Archimedes robot, which is used for optical lens manufacturing.