Swiss-Mile, a Zurich-headquartered developer of AI-powered industrial robots, has grabbed $22 million in seed funding. Led by Jeff Bezos through Bezos Expeditions and HongShan, the round saw participation from the Amazon Industrial Innovation Fund and Armada Investment, with continued support from the existing investor Linear Capital.
The company intends to use the funds to expand operations and its development efforts.
Who is behind the company
Swiss-Mile was founded in 2023 as a spin-off of the Robotic Systems Lab at ETH Zurich by Dr. Marko Bjelonic, Dr. Giorgio Valsecchi, Dr. Lorenz Wellhausen, Alexander Reske, and Prof. Dr. Marco Hutter.
It aims to relieve humanity from strenuous and tedious tasks by connecting AI with the physical world, creating truly autonomous robots. The company joins forces with world-class talent in embodied AI and robotics, tackling the most challenging aspects of mobility, autonomy, and manipulation.
The company integrates artificial neural networks into robots with legs and wheels. It enables quadrupedal robots to walk, drive, stand upright on two legs and manipulate packages with wheeled end effectors. It relieves humanity from tedious tasks by connecting AI with the physical world
Pilot projects
In the first year, they achieved early successes with pilot deployments among key customers, including last-mile delivery in smart cities and security for critical infrastructure. These customers witnessed the AI-driven autonomy of the first-of-its-kind wheeled-legged robots, powered by neural networks.
Investors’ views
“The Swiss-Mile team is building innovative real world-oriented solutions utilizing embodied AI and robotics, bringing their expertise to various industries,” said Franziska Bossart, Head of the Amazon Industrial Innovation Fund. “We at the Industrial Innovation Fund are delighted to support their team, recognizing the potential these technologies hold for Amazon.”
Additionally, Daniel S. Aegerter, founder and CEO of Armada Investment, shares his perspective on the company: “Artificial intelligence combined with low-cost, high-performance hardware will unlock an abundance of productive use-cases for autonomous robots, heralding a new era of economic activity. We are excited by what is now possible. The Swiss-Mile team are true pioneers in this emerging segment, possessing the talent, ambition, and audacity to build a category-defining company. Alongside their extraordinary technical track record, the team are relentless in their pursuit of customer value. This culture will differentiate Swiss-Mile in the long run.”
“Swiss-Mile, utilising their cutting-edge algorithms and the deep research expertise in comprehensive solutions, has developed a product that stands out in this industry,” said Caroline Fu, partner of HongShan. “We are thrilled to observe the technological advancements the company has achieved, and are confident it will play a leading role in transforming the embodied intelligence industry.”
“Swiss-Mile stands out as one of the leading embodied AI companies globally, founded by pioneers who initiated this trend,” said Harry Wang, founder and CEO of Linear Capital. “What excites me most about Swiss-Mile is their international and customer-centric mindset from the very beginning. They will be able to leverage their global resources to make Swiss-Mile a leading power in the next wave of physical AI revolution.”
