London-based AI robotics startup PHINXT Robotics, which enables autonomous mobile robotics automation in warehouses of any size, has raised €2.3 million. The round was led by Sure Valley Ventures.
- Founded in 2022 by Yanwen Chen and Quirino Zagarese, PHINXT Robotics specializes in developing a robot-agnostic software solution designed for comprehensive warehouse automation.
- The solution features a cloud-based control panel, a decentralized Robotics Control System (RCS), modular cloud applications for employees, and an extensible cloud integration engine for managing warehouse operations. The software works to increase processing power, prevent collisions, and enhance interoperability among various robotic systems.
- One of PHINXT’s successful cases is its partnership with 3PL, aimed at optimizing the company’s warehouse operations using five PHINXT robots. This implementation resulted in several improvements, including a 233% increase in pick rates, a 400% boost in warehouse throughput, 70% savings in labor costs, and an ROI achieved within six months of deploying the software, according to the startup's team.
Details of the deal
- The current investment round was led by Sure Valley Ventures, a London-based venture capital firm that invests in early-stage AI software companies in the UK and Ireland. London-based VC Ada Ventures, Atlas Ventures, and Berlin-based HEARTFELT_ also participated.
"We are thrilled to announce our participation in a £2m investment round in PHINXT Robotics, a startup that enables warehouses of any size to deploy autonomous robots with no expertise required," Ada Ventures's team, commented on LinkedIn.
- With the capital, the startup aims to expand its workforce, particularly in the engineering and sales teams, and to enter European markets.
