PHINXT Robotics secures £2m to enable warehouse robotics automation
A London-based developer of a decentralised edge AI software solution for warehouse robots has secured £2m in an oversubscribed funding round.
Funding into PHINXT Robotics was led by Sure Valley Ventures with participation from Ada Ventures, Heartfelt and Atlas Ventures.
The company will use the funds to grow its engineering and sales teams and begin expansion into mainland Europe. Globally, the mobile robot market is projected to reach $16bn, with 2.4 million mobile robots operating by 2027.
In a statement, Yanwen Chen, co-founder and CEO, PHINXT Robotics, said: “At PHINXT, our mission is to revolutionise the logistics industry with our cloud-based platform that seamlessly integrates any type of robot, enabling them to collaborate and coordinate in a shared space without the need for a centralised server.”
PHINXT’s edge AI software solution is said to enable robotics automation at any scale. Its cloud-based platform has been designed to streamline robotic deployments and support a monthly subscription model.
Traditionally, adopting robotics in warehouses has been hindered by setup costs (often exceeding £500,000) and the complexity of on-site deployment. Consequently, over 90 per cent of warehouses remain fully manual.
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