Extend Robotics Raises £2.6M to Expand Outcome-Based Robotics
Extend Robotics raised £2.6M Pre-Series A led by Skyworks Venture Capital Fund to expand its outcome-based industrial robotics model.
The big picture: Extend Robotics raised £2.6 million in pre-Series A funding to expand its ‘Result-as-a-Service’ model, allowing manufacturers to pay for completed robotic work rather than purchasing robots. The company’s platform enables remote human operators to control robots for complex tasks, augmented by AI.
Why it matters:
- Addressing labor shortages: The model helps manufacturers fill jobs that are difficult to automate or find human workers for, such as small-batch production, high-mix work, and hazardous environments.
- Shifting financial risk: By charging for outcomes, Extend Robotics removes the upfront capital expenditure and performance risk for manufacturers, making robotic adoption more accessible.
- Scalable automation: The service allows companies to scale robotic capacity as an operating expense, adapting to demand fluctuations without significant capital investment.
How it works:
- Immersive teleoperation: The AMAS platform provides a 3D interface for remote human operators to control robot arms or humanoids, even without prior robotics expertise.
- Human-AI collaboration: AI handles routine aspects of tasks, freeing human operators to focus on work requiring judgment, flexibility, or problem-solving.
- Hardware-neutral deployment: The platform is designed to work with various robotic hardware, demonstrated by its integration with Unitree Robotics and selection by Nvidia for its Robotics Startup Showcase.
The catch: The success of the ‘Result-as-a-Service’ model hinges on Extend Robotics’ ability to consistently deliver on output metrics and manage the inherent risks of robotic deployment across diverse industrial settings. Building a distributed operator network also presents challenges in training, quality control, and latency management for remote operations.
Key Facts
- Company: Extend Robotics
- Amount: £2.6M
- Round: Pre-Series A
- Investors: Skyworks Venture Capital Fund (lead), Neo Venture Europe, Zip Capital
- Founder: Chang Liu
- Sector: Industrial Robotics
- Headquarters: U.K.
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