Accel and Nandan Nilekani funded Robotics firm Systemantics
India: Systemantics, an industrial
robot provider to the manufacturing vertical, is funded by venture capital firm
Accel Partner and Infosys cofounder Nandan Nilekani. Though the amount of
funding is undisclosed.
The company has raised the second round
of funding from the two investors.
Systemantics was founded in 1995, by IIT
Madras alumni and based out in Bangalore. The company has worked on the custom
projects with Government. The company has also worked with Hindustan Aeronautics
(HAL) and Titan. The start-up has public, private and government sector
organizations in its client portfolio.
The start-up initially worked on custom
solutions, then from 2000 it reoriented its focus towards building industrial
robots for manufacturing sector. Systemantics has developed its product
portfolio by having SCARA, Walking Machine, Under Water Robotic Arm, Animatronic
Doll, SCARA Arm for Meter Disc Feeding, and others.
According to TechSci Research, factory
automation is becoming an important part of the Indian industrial sector and start-up
such as Systemantics and GreyOrange are building solutions for various
industries. As well, the investors are also supporting the entire ecosystem by
funding these innovative products and ideas. Further, the Indian Start-up
landscape has witnessed the shift in funding trend, and now investors are
considering robot building firms in their list.
As per the recent report published by TechSci Research “India Factory Automation Market Forecast and Opportunities,
2020”, depicts that factory automation market in India is projected to witness
a CAGR of around 12% during 2015-2020. Growing use of robots on factory floors
for increasing efficiency, reliability and accuracy of the production
processes, is driving the country’s factory automation market.