MOV.AI, a Lisbon, Portugal-based provider of an enterprise-grade ROS development & run time environment for cobots (collaborative robots), closed a $4m financing round, bringing the total capital raised to $8m.
The round was led by SOMV and existing investors NFX, and Viola Ventures. In conjunction with the funding, Pinchas Buharis, managing partner at SOMV, will join the board of MOV.AI.
The new funding will enable the company to accelerate product development and support its customers by establishing a customer support group.
Led by Motti Kushnir, CEO, MOV.AI provides a solution that enables hardware-software separation to simplify the development and implementation processes of robotic systems. The company’s system includes features such as a graphical interface for describing robotic behavior, autonomous navigation, obstacle avoidance, and compliance with safety requirements.
The company currently focuses on selling its products in Western Europe, particularly in England, Germany, France, Sweden, Denmark, and Ireland, and initial sales in Singapore and the USA. Robots operated by the MOV.AI system are used in the logistics and manufacturing industries of fashion, food, hospitality, automation for postal services, automotive manufacturing and more.
FinSMEs
13/10/2020