Second round of fund raise since 2017
Movel AI, a Singapore-based robotics software startup has successfully raised SGD$1.5M in seed funding co-led by investors 500 Startups, Avi-Tech Electronics Limited, Silicon Solution Ventures (SSV) and SEEDS Capital. Here are a few words from our investors;
SSV has taken an interest to invest in Movel AI with their in-depth software and technical capability in developing a SLAM enable platform solution to enhance the performance of Robotics AGV deployment.
- David Ng, CEO/MD of Silicon Solution Ventures (SSV)
Avi-Tech decided to invest in Movel AI mainly because of the value proposition it can bring to both companies. With its powerful and intelligent software, it complements Avi-Tech’s direction to diversify our business into robotics solutions. Not only is it smart in navigation, object avoidance in tight spaces, and ease of use and deploy, it also offers fleet management and analytics in which robots can be made smarter over time.
- Alvin Lim, COO of Avi-Tech Electronics Ltd
The investment brings total funding since our launch in 2017, to a sum of SGD$2M. SGD$554,500 was raised in the pre-seed round, participated by SGInnovate, Entrepreneurs First (EF), Sparklab Global Ventures and angel investors in 2017/2018 (read more here).
Investors are trying to find exceptional outcomes, so they are looking for exceptional startups. We are humbled to have the support and commitment from our diverse group of investors and the very awesome team. It was all because of the hard work contributed by the team that we were able to close this round by choosing the right and strategic investors for us.
We are confident that with this round of investment and the support of our fast-moving, talented team, we will be able to fill the robotics software gap in the robotics market.
- Abhishek Gupta, CEO (Movel AI)
Movel AI was founded in 2016 with a vision to provide navigational dexterity and multi-environmental agility to robotic mobility platforms (RMP).
Since our inception, Movel AI has forged partnerships and collaborations with startups, robotic manufacturers and statutory boards. Notable projects include:
- The successful delivery of a mall delivery robot - a collaboration with IMDA and Gurusoft in 2019. The robot developed was intended to deliver goods to stores from unloading areas in shopping malls - reducing reliance on manual labour.
- An inspection robot project; in collaboration with BCA, Xjera Labs and VRCollab in 2018. The RMP developed will be used in construction projects to scan for structural defects in buildings.
Growing our business amidst COVID-19 - Locally and Regionally
Locally, a recently signed partnership between Avi-Tech Pte Ltd and us commenced software development to power UV/Disinfectant autonomous ground vehicles (AGV). To be used in shopping malls and general public areas in mind, this AGV will bring us out of the pandemic sooner by ensuring disinfection is done as much and quickly as possible.
Offshore but not too far away in Malaysia, we have collaborated with a local robotic startup - in the development of AGVs powered by Movel AI software to disinfect and clean hospitals.
We don't go slow, we GROW!
Covid-19 caught everyone by surprise but surprises are just part and parcel of being in a startup.
Not slowing down and flooring the gas pedal, we quickly arranged the team to work from home and hired 10 interns and 3 new full-time team members since the start of circuit breaker measures. With a larger and stronger team, we have since revamped our website, improved our social media presence and proudly launched a closed beta of our brand new product Seirios - all in just a few months since April.
read more at movel.ai/product
Continuing our growth and expansion efforts, we are hiring more Engineers to join the team, collaborating with hiring partners and continuing to forge relationships and partnerships with companies globally; diversifying Movel AI's portfolio into different industries.
UPDATE : We're proud to announce our recent win in the 2020 K-Startup Grand Challenge!