Southie Autonomy, a Boston, MA-based developer of intelligent robotic automation, announced that it raised $2.5 million in seed funding.
The round was led by BootstrapLabs, a venture capital firm focused on applied artificial intelligence, and with the participation of Ocean Azul.
Kineo Finance participated in the equity round and is providing an additional $5 million in venture leasing to support Southie’s disruptive robot-as-a-service business model.
The capital will help accelerate customer acquisition and build out the network of distribution partners. In addition, Southie Autonomy will scale its operations and expand the commercial and technical team.
BootstrapLabs will join the board of Southie Autonomy.
Company: Southie Autonomy
Round: Seed Round
Funding Month: May 2022
Lead Investors: BootstrapLabs
Additional Investors: Ocean Azul
Company Website: https://www.southie.ai/
Software Category: Robotic Automation
About the Company: Southie Autonomy has developed an easy-to-use robot arm solution for automating packaging assembly, palletization, and kitting. The innovative AI/AR platform creates a program for the robot to follow, enabling it to pick up objects of varying shapes and sizes. No coding, engineering, or highly trained experts are necessary, enabling any operator to instruct a robot to perform packaging assembly within minutes using only simple gestures.
Source: https://www.southie.ai/southie-autonomy-seed-funding-and-robot-lease-financing https://www.businesswire.com/news/home/20220509005108/en/Southie-Autonomy-Secures-2.5-Million-Seed-Funding-5M-in-Robot-Lease-Financing