Perceptyne, a Hyderabad-based robotics startup, has raised $3 million in a seed funding round led by Endiya Partners and Yali Capital, with participation from Whiteboard Capital and several angel investors. This fresh injection of capital comes as Perceptyne looks to accelerate the development of its AI-driven robotics platform, which is designed to automate complex tasks traditionally requiring human dexterity.

The funds will be primarily used for product development, customer acquisition, and expansion into new markets. Perceptyne aims to offer scalable automation solutions for industries such as manufacturing, logistics, and assembly line production, sectors that are seeing rapid growth in demand for robotics technology.

Revolutionizing Robotics for Manufacturing Automation

Founded by Raviteja Chivukula, Jagga Raju Nadimpalli, and Mrutyunjaya Sastry, Perceptyne is focused on developing a full-stack robotics platform. The company's flagship products, the PR-34D and PR-9D, are dual-arm and single-arm robots equipped with integrated computer vision, AI, and multi-modal sensing. These systems are tailored for tasks that require precise, human-like dexterity, such as assembling products or packaging on industrial production lines.

The startup claims its technology significantly reduces the time required to integrate robots into existing manufacturing processes, shrinking timelines from several quarters to just weeks. This ability to quickly and seamlessly implement robotic solutions without requiring significant changes to the assembly line offers a key advantage to Perceptyne’s clients, who include major players in the automotive and electronics industries.

Perceptyne operates on both capital expenditure (capex) and operating expenditure (opex) models, offering flexibility for customers. Under the capex model, companies can purchase robots outright, while the opex model allows businesses to use Perceptyne's robots on a subscription basis, with the startup generating revenue based on robot usage.

A Booming Market for Robotics

This funding round positions Perceptyne to capitalize on the booming global demand for robotics and automation. According to CEO and co-founder Raviteja Chivukula, the robotics market is projected to reach $41 billion annually by 2030, with a compound annual growth rate (CAGR) of 12.3%. "We are seeing strong growth for robotics both in India and globally," Chivukula said. "In India, initiatives like 'Make in India' have encouraged companies to build locally, and domestic consumption for high-tech products is rising rapidly."

Chivukula also pointed out that while demand for skilled labor is growing, alternative career options and other factors have created a shortage in the labor force. He emphasized that AI-driven robotics platforms like Perceptyne's are increasingly seen as a solution to this labor gap. “We believe our AI-powered automation systems will revolutionize the way companies approach manufacturing by enabling many more applications to be automated,” he added.

Competing in a Crowded Space

Perceptyne faces competition from several other companies in the AI and robotics space. Globally, its key competitors include Tokyo-based Telexistence and California-based Figure, both of which have developed AI-powered robots aimed at industrial automation. However, Perceptyne is setting itself apart by focusing on a combination of AI models, dexterity, and articulate actuators, which it claims make its robots highly adaptable and versatile.

The robotics sector has been attracting significant investor interest recently, as companies across industries, from healthcare to warehousing, are seeking to integrate AI-powered automation into their operations. Last week, for instance, Pune-based robotics startup Haber raised INR 317.2 crore in a funding round led by private equity firm Creaegis, underscoring the growing momentum in the sector.

Future Plans and Market Potential

This latest funding round follows Perceptyne's earlier pre-seed round of $550,000, which was led by Venture Catalysts. As of March 2024, the company was valued at $3.73 million. In addition to its new investors, Perceptyne has previously attracted backing from incubators such as T-Hub and Z21 Ventures.

Perceptyne’s leadership team sees a bright future for the company, fueled by the increasing integration of AI in robotics. "AI has been making huge strides, with more compute available, complex models being built, and large amounts of data being collected," Chivukula noted. "Perceptyne is at the intersection of AI and robotics, and we believe this will unlock new levels of automation in manufacturing."

With the funds from this seed round, Perceptyne plans to double down on product innovation, refine its robotics systems, and expand its reach into more industrial sectors both in India and internationally. The company's dual approach—offering advanced robotics with flexible purchasing models—positions it well to meet the evolving needs of manufacturers seeking more efficient and automated production methods.

Perceptyne’s successful $3 million seed round marks a significant milestone in the startup’s journey to becoming a key player in the robotics and AI sectors. With a strong focus on product development, customer acquisition, and market growth, the company is well-positioned to ride the wave of increasing demand for automation solutions. As industries worldwide continue to embrace AI-driven robotics, Perceptyne is poised to play a pivotal role in shaping the future of manufacturing and beyond.