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Olis Robotics, a company that specializes in remote monitoring, control, and error recovery technology for industrial robots, has brought in $4.1 million in funding.
With Olis Connect, the company’s flagship system, users are able to safely remotely monitor, control, and troubleshoot their industrial robots. This leads to improved overall equipment effectiveness (OEE), effectively addressing costly robot downtime.
“Robot downtime can cost a large plant over $1 million per hour. When every minute counts, you need to leverage remote tools to react as quickly as possible no matter where you are,” Fredrik Ryden, CEO of Olis Robotics, said. “Our technology is ingeniously simple to use and intensely practical in terms of its impact.”
Olis’ plug-and-play device can be easily installed. Once a users’ secure remote access has been configured they can monitor their automation remotely from anywhere with any browser-capable device. If something goes wrong with a robot, then Olis Connect sends an alert using a secure connection to the user’s device, without connecting to the cloud.
Olis Connect’s three cameras provide low latency monitoring of a robot’s entire cell, giving users access to 24/7 measurements of key performance indicators, like OEE and instant video replay to help operators diagnose the root cause of any error.
PSL Ventures led Olis’ funding round, which also included participation from Tectonic Ventures, Ubiquity Ventures, and several prominent strategic angel investors, including robotics pioneer Daniel Theobald, the president and co-founder of MassRobotics and founder and chairman of Vecna Robotics.
“In the midst of a global manufacturing labor crisis, companies are adopting automation in record-breaking numbers, resulting in calls from both manufacturers and integrators for robust, safe, and secure remote monitoring, diagnostics, and control solutions,” T.A. McCann, partner at PSL Ventures, who joins Olis Robotics’ Board of Directors, said. “Olis Robotics’ unique remote robot control technology answers that call; it can easily be deployed on both brand new and legacy automation, which means a dynamic and exciting market opportunity for investors.”