- SVT Robotics, a company that builds software known for accelerating and simplifying deployment of industrial robotics, announced it raised $3.5 million
SVT Robotics, a company that builds software known for accelerating and simplifying deployment of industrial robotics, announced it has raised $3.5 million in a seed round of funding. Cowboy Ventures led the investment round with Dynamo Ventures, Schematic Ventures, Ludlow Ventures, and NRV all participating.
SVT Robotics — which was founded by Michael Howes and A.K. Schultz — will be using the funding to enable SVT Robotics to broaden product development efforts for its robotic Integration Platform as a Service (iPaaS).
The software platform had first launched in 2018. And since then the demand for the platform has continued to grow. SVT is expanding its product feature set to support this customer growth and market demand.
SVT Robotics is also going to utilize the investment funds to continue to scale up the product and customer success teams to help meet these objectives.
Key Quotes:
“Our platform gives any company the power to rapidly deploy new, innovative robotics and the flexibility to alter course quickly to meet the needs of the market. This seed round shows that SVT Robotics has the right product fit for the market today and as it evolves, plus an amazing group of investors who are looking to help solve the problems of tomorrow.”
– SVT Robotics CEO and Co-founder A.K. Schultz
“The response has been terrific, and we’re really excited about the roadmap this year. This investment is helping us to go even faster and direct our energy to features our customers need most.”
– Michael Howes, Co-founder, COO & CTO of SVT Robotics
“We believe supply chain automation will continue, even during these difficult times, as businesses strive to meet increased consumer expectations. SVT is well-positioned to help companies complete their deployments more quickly, less expensively, and with less risk. Although the company had the resources to ride out a downturn, we invested to help SVT expand its product offering, setting them up to become an enduring company.”
– Ted Wang of Cowboy Ventures
“Large customers have described SVT as ‘the missing piece for robot adoption. Last year was about building the pieces, and this year is about putting them in place. We’re excited to continue to support SVT Robotics’ mission of accelerating the warehouse robot market.”
– Julian Counihan of Schematic Ventures
“We at NRV are honored to work alongside the SVT Robotics team of industry experts and developers. Their platform is unique in its ability to seamlessly and quickly bridge robotic hardware and business systems. It’s a solution that’s needed now more than ever.”
– Scott Ukrop, Managing Director at NRV
