Intelligent no-code software that allows any industrial robot to be repurposed
BOSTON, May 09, 2022–(BUSINESS WIRE)–Southern Autonomy, a developer of intelligent robotic automation, today announced it has raised $2.5 million in seed funding led by BootstrapLabs, a venture capital firm focused on applied artificial intelligence, and with participation from Ocean Azul. Kineo Finance participated in the funding round and is providing an additional $5 million in risky leasing to support Southie’s disruptive robot-as-a-service business model.
Supply chain disruptions and labor shortages have highlighted the need for increased automation. However, many existing solutions are too expensive, complex and time consuming to change in highly dynamic manufacturing, warehousing and distribution environments. Southie Autonomy’s solution offers fast and flexible automation, creating a turnkey cell that can adapt to fluctuating demands and improve efficiency and margins.
With Southie Autonomy’s no-code robotic arm software solution, manufacturers no longer need additional programming and engineering expertise to integrate and manage automation. The platform uses artificial intelligence and augmented reality to automate highly variable contract packaging activities, ranging from kitting, packaging to palletizing, enabling daily line changes. The robotic arm can be set up in minutes, eliminating setup overhead, and can operate safely alongside workers. The software is compatible with any robotic hardware and is currently deployed by a handful of customers.
Southie Autonomy, based in the MassRobotics collaboration space in Boston, was founded in 2018 by Draper alumni Rahul Chipalkatty and Jay M. Wong. The capital will help accelerate customer acquisition and grow the channel partner network. Additionally, Southie Autonomy will expand its operations and expand the sales and technical team. BootstrapLabs will join Southie Autonomy’s board of directors.
“We are thrilled to have investors who are pioneers in understanding how AI is changing our world and their support will enable Southie Autonomy to scale rapidly. Our mission is to unlock the potential of robotic automation , removing long-established barriers to adoption, cost, and complexity. Supply chain vendors and manufacturers now have a turnkey solution to help them overcome on-hand challenges. -work.”
Rahul Chipalkatty, Founder and CEO, Southie Autonomy
“Until now, it has been very expensive and complex to reprogram robots to perform different tasks, causing automation ROI to plummet. With the innovative AI-powered robotic automation platform from Southie, it only takes a few minutes and no coding is required time for the industry, and with its Robot-as-a-Service (“RaaS”) business model, Southie is poised to accelerate the adoption of collaborative robots in new industries and types of organizations.”
Benjamin Levy, Co-Founder and General Partner, BootstrapLabs
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About Southie Autonomy
Southie Autonomy has developed an easy-to-use robotic arm solution to automate packaging assembly, palletizing and kitting. The innovative AI/AR platform creates a program for the robot to follow, allowing it to pick up objects of different shapes and sizes. No coding, engineering or highly skilled experts are required, allowing any operator to have a robot perform packaging assembly in minutes using only simple gestures. Find out more about Southie Autonomy here and log on to Twitter and LinkedIn.
About Bootstrap Labs
BootstrapLabs is a leading Silicon Valley-based venture capital firm specializing in applied artificial intelligence. The company invests in mission-driven founders who want to shape a better future by applying artificial intelligence to solve some of the world’s biggest and most valuable opportunities in industries including the future of work, mobility, cyber, health, finance, energy and climate. BootstrapLabs is often the first institutional capital and acts as a lead investor in the early stages, with follow-on capital for later stages. Founded by entrepreneurs for entrepreneurs, the company has built a broad community of applied AI experts, founders and leaders to support its portfolio companies, and strives to be the most valuable investor and the most strategic, from advice on product-market adequacy to recruitment, business development, marketing strategy and fundraising. Learn more at www.bootstraplabs.com
About Ocean Azul
Based in South Florida, Ocean Azul Partners is an early-stage venture capital firm passionate about helping entrepreneurs develop innovative technology solutions. Ocean Azul primarily focuses on B2B software and deep tech companies that have early traction and clear differentiation. They invest in companies that solve new challenges created by emerging technologies and trends or that focus on established industries that are ripe for disruption. What sets this team apart is their ability to use their operational experience and networks to support the entrepreneurs and scale-ups that will shape the future of their industries. For more information, visit www.oceanazulpartners.com
About kineo finance
kineo finance is an asset finance group headquartered in Switzerland with a global reach with subsidiaries in the United States and Germany. kineo provides tailor-made venture capital and working capital solutions to companies starting to market new products and services with a hardware component. kineo enables start-ups to offer product/market specific “equipment as a service” solutions to their customers via pay-as-you-go, rental or subscription models. Supported by major institutional investors, kineo offers a large industrial network and know-how and actively supports high-growth companies to accelerate the market entry of their innovations.
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