Bangalore-based robotics firm, Systemantics has raised investment from existing investor Accel Partners, and Infosys Co-founder Nandan Nilekani. The financial details of the deal have not been disclosed by the company.
Systemantics was founded in 1995 by IIT Madras alumnus, Jagannath Raju. In the year 2000, the company reoriented its focus towards developing products in the robotics market. It develops robots and custom automation solutions for industries.
Since its inception, Systemantics has worked on custom robotics projects with the Government, and companies, such as Titan and Hindustan Aeronautics (HAL). It aims to to enable widespread adoption of flexible automation in industry, for tedious and mentally fatiguing or hazardous tasks that humans are ill-suited to perform, as evidenced by high labour turnover.
This investment in Systemantics will mark at least the seventh venture that has been backed by Nilekani, who has actively invested in early-stage startups that he believes are building disruptive ideas. Over the past 12 months, Nilekani has also invested in Team Indus, Fortigo, Mubble, Juggernaut, Lets-Venture and Power2SME.Category Investments News