Southie Autonomy, a Boston, MA-based developer of an intelligent robotic automation company, raised $2.5M in Seed funding.
The round was led by BootstrapLabs, with participation from Ocean Azul. Kineo Finance participated in the equity round and is providing an additional $5m in venture leasing to support its robot-as-a-service business model. BootstrapLabs will join the board of Southie Autonomy.
The company intends to use the funds to accelerate customer acquisition, build out the network of distribution partners, scale its operations and expand the commercial and technical team. BootstrapLabs will join the board of Southie Autonomy.
Founded in 2018 by Draper alumni Rahul Chipalkatty and Jay M. Wong, Southie Autonomy has developed a robot arm solution for automating packaging assembly, palletization and kitting. The AI/AR platform creates a program for the robot to follow, enabling it to pick up objects of varying shapes and sizes. The software is compatible with any robotic hardware and is currently being deployed by a handful of customers.
FinSMEs
09/05/2022