Singapore-based Sesto Robotics targets international expansion with $5.7M raise

Singapore-based Sesto Robotics targets international expansion with _5.7M raise-01

Singapore-based industrial robotics firm Sesto this week announced a $5.7 million raise, featuring TRIVE, WTI GmbH and SEEDS Capital (Enterprise Singapore’s VC wing). The round follows a similarly sized $4 million Series A, back in 2018.

Sesto expanded operations to Europe — specifically Austria, Germany and Switzerland. That no doubt explains investment interest this round from EU-based firms. Citing research from GMD, CEO Chor-Chen Ang notes of the round, “We are excited to tap into the growth of Autonomous Mobile Robots in Europe which is projected to expand at a CAGR of 11.8% over the next 4 years from US $4.40B currently.” Funding will go toward expanding these sorts of international partnerships, market, as well as building out the company’s product offerings and the versatility of its existing robots.

Read More: https://techcrunch.com/2022/01/14/singapore-based-sesto-robotics-targets-international-expansion-with-5-7m-raise/

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