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SVT Robotics has raised $25 million in Series A funding. SVT’s SOFTBOT platform is designed to enable rapid integration and deployment of industrial robotics. SVT’s funding came from Tiger Global, with participation from Prologis Ventures.
SVT was founded in 2018 and launches its platform in 2020. SVT’s technology-agnostic SOFTBOT platform is aiming to solve the interoperability problem. The platform is built using what the company calls “SOFTBOTS.” Each SOFTBOT is like a microservice representing an integration to either software or hardware or business logic that manages those technologies and ensures they work in concert.
According to SVT, SOFTBOTs can be built, maintained or changed without custom code and without retooling the rest of the system. This could result in faster deployment of robotics systems.
SVT will use the new funding to further advance its SOFTBOT Platform and capabilities. SVT said there is a need for rapid automation deployments and management of technologies from disparate supplier.
“The demand for industrial automation is even higher, but industry growth has been limited by capacity to execute,” said A.K. Schultz, co-founder and CEO of SVT Robotics. “Integrations are typically all custom coded, meaning long development cycles. It’s expensive, and companies wait as much as a year or more for new automation to go live.”
In June 2021, SVT announced a new SOFTBOT platform connector with RightHand Robotics. The two companies worked together to develop the pre-built connector between SVT’s SOFTBOT Platform and the RightPick 3 item-handling robot system.
Tiger Global, an American investment firm, contributed to Nuro’s $600 million in Series D funding earlier this month. In September 2021, it invested $50 million in Locus Robotics, a leading producer of autonomous mobile robots.