RoboK, a Cambridge-headquartered startup applying AI-powered computer vision to logistics and industrial workplaces, has snapped $2.1 million in funding. With this, the company has raised $4 million to date to accelerate commercial expansion.
The funding round was led by Cambridge Enterprise with participation from new and existing investors, including the Bristol Port Company, U-blox AG, Amadeus Capital Partners that recently backed ATMOS, and Tenzo, Martlet Capital, the University of Cambridge Enterprise Fund managed by Parkwalk Advisors, Deeptech Labs, and a number of angels. The company has also secured grants from funders incl. InnovateUK and the Department for Transport.
The fresh funds will let RoboK connect to more sites, including ports and other industrial infrastructure. It will also provide even more valuable insights as the solution becomes more embedded within the day-to-day operations of customers, helping operators of very large sites better monitor potential safety issues as well as improve productivity and throughput.
Additionally, RoboK plans to hire additional commercial and product roles to support its growth plans. This infusion of new talent will enable the company to continue to innovate and improve its solution to meet customers’ evolving needs.
“Our technology has the potential to revolutionise the entire infrastructure industry and we are starting with ports. This is especially significant for the UK, as 95% of all UK imports and exports are transported by sea. We are committed to making it accessible to as many workplaces with existing industrial CCTV cameras as possible,” said Hao Zheng, co-founder & CEO at RoboK.
Desmond Cheung, Senior Investment Analyst at Cambridge Enterprise, shared: “Cambridge Enterprise has been a staunch supporter of RoboK since it spun-out of the University’s Department of Computer Science and Technology in 2017 and is delighted to have led RoboK’s latest funding round alongside existing investors, the Port of Bristol and the port’s major shareholder. The encouraging outcomes at Bristol just 3 months after deploying RoboK’s solution is not only a testament to the performance of RoboK’s AI, but also to Hao and her team’s dedication to delivering a class-leading product. We look forward to seeing RoboK’s platform scale across the logistics and supply-chain sector, and potentially save many more lives to come.”
Amelia Armour, Partner at Amadeus Capital Partners, commented: “Amadeus is very proud to have been a backer of RoboK from very early on and our team strongly believes in the AI technology that Hao and her team has developed. At this stage in its development, it is especially exciting to see the commercial traction the company is having with ports. It is a clear sign of the team successfully productising its technology, and having the ports come on board as new investors will also be seen as strong validation that should help attract further customers.”
Miles Kirby, CEO of Deeptech Labs, said: “Since participating in Deeptech Labs’ Autumn ‘21 cohort, RoboK has gone from strength to strength, and this marks another key milestone in its journey. We are excited to have this latest funding round validate the RoboK model. We look forward to working with the RoboK team as they continue to scale their operations and further enhance the safety and efficiency of large-scale infrastructure sites.”
AI to make logistics safe and efficient
Founded by Hao Zheng in 2017 in Cambridge, RoboK develops innovative, privacy-preserving, and cost-effective technology to maximise the value of industrial CCTV cameras.
RoboK applies AI in CCTV cameras to help logistics companies like large ports, warehouses, and sortation hubs prevent safety hazards, inefficiencies, and delays as well as make operations more efficient inside facilities. By using computer vision to monitor and analyse these processes, RoboK’s technology can help prevent accidents as well as improve efficiency in handling and transportation.
RoboK is already working with some of the largest critical infrastructure operators, turning their on-site visual data into high-value actionable insights. The Bristol Port Company, one of RoboK’s customers, saw a reduction of over 90% in potential safety incidents after just three months of deploying RoboK’s solution.
