CynLr Secures $10M in Series A Funding to Revolutionize Industrial Robotics

Dominor Investments is proud to share with all of you that its portfolio company CynLr – the Bengaluru based industrial robotics startup has recently closed a fresh round of USD 10 million in funding. This Series A round was led by Pavestone VC and Athera Venture Partners (formerly Inventus India). Joining them in this recent round of funding were existing stakeholders; Speciale Invest and InfoEdge’s Redstart. With the current round of funding CynLr has raised a total of USD 15.2 Mn. Founders Nikhil Ramaswamy and Gokul N A plan to deploy these fresh funds to achieve firm priorities: - Reach the $22 Mn revenue milestone by 2027 - Human Capital ramp-up: from current 60-member team to 120 members - Talent Acquisition will be made across functions- Sales, Software Dev, Operations, Marketing, others - Ramp up talent across three geographies- India, US and Switzerland - Enhance the Bengaluru Lab which hosts 25 robotic systems to 50 systems, by 2026 CynLr’s proprietary capabilities have enabled the firm to lower its operating costs, drive customer adoption and increase scale. We are happy so see CynLr come closer to achieving its goal of getting clients to adopt their ‘Object Store’ – a platform (simulating an app like experience) that will allow enterprise customers to tailor their robotic requirement based on immediate use cases, where CynLr’s robotic solutions will instantaneously perform the desired task based on the customer choice. Kudos to the entire team at CynLr for achieving this milestone. To know more visit: https://lnkd.in/geQRbVnp