RoboK, a Cambridge, UK-based startup applying AI-powered computer vision to logistics and industrial workplaces, raised $2.1 million in funding, bringing its total raised to $4 million. The funding will be used to accelerate the company's commercial expansion.
The round was led by Cambridge Enterprise, with participation from new and existing investors including the Bristol Port Company, U-blox AG, Amadeus Capital Partners, Martlet Capital, the University of Cambridge Enterprise Fund managed by Parkwalk Advisors, Deeptech Labs, and a number of angels.
The company has also secured grants from funders including InnovateUK and the Department for Transport.
With the funding, RoboK aims to expand its presence in industrial infrastructure, including ports, and provide more valuable insights as its solution becomes integrated into customers' day-to-day operations. This expansion will enable operators of large sites to better monitor safety issues, enhance productivity, and increase throughput.
Additionally, RoboK plans to hire additional commercial and product roles to support its growth plans, foster innovation and ensure the solution meets evolving customer needs.
RoboK's mission is to provide significant value to customers by unlocking the potential of their existing industrial CCTV cameras. They offer proprietary computer vision solutions that are privacy-preserving and cost-effective, enabling secure and proactive insights with deep operational knowledge in various sectors.
"Our technology has the potential to revolutionize the entire infrastructure industry, and we are starting with ports. This is especially significant for the UK, as 95% of all UK imports and exports are transported by sea. We are committed to making it accessible to as many workplaces with existing industrial CCTV cameras as possible," said Hao Zheng, co-founder and CEO at RoboK. "Supported by strong research expertise, our solution stands out in our ability to provide accurate and robust AI insights at scale and cost-effectively. Our team has built an easily configurable solution that can address the many key challenges of our customers, and we are excited to use this funding to continue our journey of making industrial workplaces safer and more efficient."
Company: RoboK Limited
Raised: $2.1M
Round: Growth and Grant Funding
Funding Month: July 2023
Lead Investors: Cambridge Enterprise
Additional Investors: Bristol Port Company, U-blox AG, Amadeus Capital Partners, Martlet Capital, the University of Cambridge Enterprise Fund, Deeptech Labs, Innovate UK, and the Department for Transport
Company Website: https://robok.ai/
Software Category: AI-powered Computer Vision
About the Company: RoboK is a computer vision startup with a mission to make all industrial workplaces safe and high-performing with AI. The company develops innovative, privacy-preserving, and cost-effective technology to maximize the value of industrial CCTV cameras. RoboK is already working with some of the largest critical infrastructure operators, turning their on-site visual data into high-value, actionable insights. The company is based in Cambridge, UK.
Source: https://robok.ai/robok-news-1/f/robok-raises-21m-to-boost-industrial-safety-efficiency