SLAMcore secures £4m Series A investment led by Octopus Ventures and MMC Ventures to meet rising robotics demand
The funding round was led by Octopus Ventures and MMC Ventures with participation from Amadeus Capital Partners and Toyota AI Ventures.
SLAMcore develops spatial artificial intelligence software and tools that enable autonomous robots and drones to navigate complex environments. The company provides affordable spatial intelligence solutions designed to integrate into existing hardware platforms.
London-based spatial AI developer SLAMcore has secured £4m in a Series A funding round led by Octopus Ventures and MMC Ventures. Participation also came from Amadeus Capital Partners and Toyota AI Ventures. The capital will be deployed to accelerate the availability of the company products, including its recently launched developer software kit, to meet soaring market demand driven by the coronavirus pandemic.
The business has experienced a significant surge in enquiries as companies seek robotics solutions to manage staff shortages and enforce social distancing across sectors such as healthcare, manufacturing, and supply chains. SLAMcore aims to resolve the primary cause of robotic failure by providing sophisticated spatial intelligence algorithms that allow machines to calculate their positions and navigate reliably.
From the founder
"Even before the crisis, SLAMcore was engaged in many conversations with companies – big and small – who needed a better way to solve spatial intelligence issues in robotics. Especially across sectors such as drones, robots, and AR/VR, the coronavirus pandemic has lit the touch-paper and we are primed to meet exploding demand. In the past few weeks alone, we have seen a huge spike in enquiries as robotics companies want fast solutions to get their robots to market sooner."
Owen Nicholson
CEO at SLAMcore
Investor perspective
"We are very excited by the advancements in next generation software platforms used to drive the future of robotics. The ability to locate and map in real-time is still unsolved in the vast majority of autonomous designs. Therefore, affordable SLAM delivered as-a-service at scale is fundamental to unlocking the adoption of self-driving robots across all indoor and outdoor applications including agriculture, warehousing and last-mile delivery."
Mina Samaan
Principal, MMC Ventures
Use of funds
- 01Continue product development
