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SESTO Robotics spins off from HOPE Technik, gets S$4m Series A funding
SESTO Robotics, an autonomous technology solutions startup, announced on Friday that its spin-off from parent company HOPE Technik has been completed.
SESTO Robotics has also secured S$4 million in Series A funding from Singtel Innov8 and Temasek-owned investment firm Heliconia Capital Management.
SESTO Robotics was first formed as a business division within HOPE Technik. The latter, a Singapore-based engineering firm that builds drones and firefighting robots, also counts Singtel Innov8 and Heliconia as its 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. This exercise will enable us to fulfil our vision of developing scalable autonomous robotics solutions for the supply chains of various industries."
HOPE Technik added that the spin-off is in line with the strategic plan for SESTO 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.