SESTO Robotics spins off from HOPE Technik, bags S$4m Series A funding
Singapore
SESTO Robotics, a robotics and autonomous technology solutions startup, announced the completion of its spin-off from parent company HOPE Technik on Friday.
The startup has also snagged S$4 million in Series A funding from Singtel Innov8, the corporate venture capital fund of Singtel, and Heliconia Capital Management, an investment firm owned by Temasek.
SESTO Robotics was first formed as a business division within HOPE Technik. HOPE, a Singapore-based engineering firm which builds drones and firefighting robots, also counts Singtel Innov8 and Heliconia as backers.
Michael Leong, chief executive officer of SESTO Robotics, said: "The completion of this spin-off and injection of initial funding will further strengthen SESTO Robotics' product positioning."
Mr Leong, also co-founder of HOPE Technik, added: "This exercise will enable us to fulfil our vision of developing scalable autonomous robotics solutions for the supply chains of various industries."
SESTO Robotics' suite of solutions are currently centred around Automated Guided Vehicles (AGVs) and Intelligent Mobile Robots (IMRs), which are designed to automate traditionally labour-intensive materials-handling processes.
HOPE Technik says SESTO AGVs and IMRs have been adopted by "industry leaders" in the fields of semiconductor manufacturing and warehousing. The AGVs and IMRs perform tasks such as transporting work-in-progress materials between work stations and moving bulk materials within warehouses.
HOPE Technik said the spin-off is in line with HOPE Technik's strategic plan for SESTO Robotics to expand its product portfolio, while accelerating the delivery of its products to a rapidly growing pool of customers utilising autonomous mobile robot (AMR) technology.
SESTO Robotics will develop new AMR solutions to address the demands of previously untapped industries, and explore expanding its geographical reach and operations beyond current markets such as China and Singapore.
HOPE Technik said: "Globally, companies now have better understanding of the benefits of Industry 4.0 practices and are shifting their attention to autonomous mobile robots. SESTO Robotics' products will enable companies worldwide to plug gaps in areas such as quality consistency and manpower limitations."
