PHINXT Robotics raises £608k pre-seed round led by Fuel Ventures to scale warehouse automation technology.
The oversubscribed round was led by Fuel Ventures with participation from multiple VCs and angel networks.
PHINXT Robotics develops a decentralised edge AI software platform that allows warehouses to deploy and coordinate autonomous robots at scale. The company aims to make robotic automation accessible and flexible for supply chains.
PHINXT Robotics has secured £608k in a pre-seed funding round led by Fuel Ventures. The oversubscribed round also drew participation from Dhyan Ventures, Atlas Ventures, APX, Prequel Ventures, and angel investors associated with Venture Together and Alma Angels.
The capital will be directed towards field testing the company's first product and deploying it successfully with an initial cohort of customers. PHINXT has developed patented decentralised edge computing technology designed to help smaller warehouses compete with major logistics firms by lowering the barriers to robotic automation.
From the founder
"Robotics automation has become a must for businesses that want to stay competitive in the logistics and manufacturing industries, however, it is still something that only large companies are able to afford. We are changing that and, thanks to our tech, we plan to bring the advantages of robotics automation to many SMEs across Europe in the next couple of years."
Yanwen Chen
CEO and Co-Founder at PHINXT Robotics
Investor perspective
"PHINXT is a deep tech company that also has short-term commercial potential. They are one of the rare startups that has deeply technical founders who are extremely focussed on their customers and their needs. We’re really pleased to be backing this team."
Tom Hibbard
Principal, Fuel Ventures
Use of funds
- 01Continue product development
Investors
Tom Hibbard
Fuel Ventures
Amar Shah
Dhyan Ventures
Atlas Ventures
APX
Prequel Ventures
Venture Together
Alma Angels
Categories
About the company
PHINXT Robotics
PHINXT Robotics provides decentralised edge AI software for warehouse automation.