PHINXT Robotics, an AI-led robotics software company, has secured €2.3 million in an oversubscribed funding round led by Sure Valley Ventures with participation from Ada Ventures, Heartfelt and Atlas Ventures.
PHINXT has developed a decentralised edge AI software solution to enable robotics automation at any scale. Founded in 2022, the company aims to redefine the landscape of warehouse automation with its cloud-based platform, designed to streamline robotic deployments and support a flexible monthly subscription model. Traditionally, adopting robotics in warehouses has been hindered by exorbitant setup costs – often exceeding £500k – and the complexity of on-site deployment. Consequently, over 90% of warehouses remain fully manual.
PHINXT Robotics addresses these challenges head-on with its proprietary technology, which coordinates robots at the edge, simplifying robotic deployments by a factor of ten. PHINXT’s platform supports a wide range of robots, allowing customers to select and deploy the exact type of robotics they need. As a result, businesses leveraging PHINXT’s technology have experienced remarkable improvements, including doubled profit margins and up to four times increased productivity.
PHINXT’s CEO and Co-Founder, Yanwen Chen, is an expert in this space with two PhDs specialising in computer science and synchronisation communications for robotics. Yanwen developed the algorithm that allows robots to self-orchestrate safely even when they lose connections to central networks. She co-founded the company with Quirino Zagarese, PhD, an expert in distributed systems, to collaborate on building a scalable architecture and product.
Yanwen Chen, Co-Founder and CEO, PHINXT Robotics, said: “At PHINXT, our mission is to revolutionise the logistics industry with our cloud-based platform that seamlessly integrates any type of robot, enabling them to collaborate and coordinate in a shared space without the need for a centralised server. Our robot-agnostic platform supports warehouses at every stage of their automation journey, providing unparalleled flexibility and efficiency. We aim to be the gateway for the logistics industry, facilitating the integration of these robots into operations and helping businesses achieve a rapid return on investment. By accommodating different types of robots, we ensure that warehouses can optimise various tasks, from picking to transportation, enhancing overall productivity.”
The company will use the funds to grow its engineering and sales teams and begin expansion into mainland Europe where the team sees considerable opportunity. According to its founders, PHINXT’s long-term vision is to extend beyond warehouse robotics automation to encompass delivery drones and autonomous vehicles. Given the core decentralised edge computing technology enables coordinating machines within a distributed network, continued development of the platform will enable PHINXT to deploy solutions in frontier technologies such as autonomous vehicles.
The company recently graduated from the Female Foundry Visionaries AI Incubator in partnership with Google Cloud, having been identified as one of the most innovative European female-led startups leveraging AI within the future of software.
Brian Kinane, Founding Partner at Sure Valley Ventures, added: “PHINXT’s unique edge computing technology helps warehouses to drastically increase performance and profitability, providing a highly flexible and cost-effective robotics solution that will enable far greater adoption. PHIXNT has a clear advantage in terms of cost, simplicity and flexibility, and with their cutting-edge proprietary technology, are extremely well-positioned to disrupt this market globally.”
Check Warner, Partner at Ada Ventures & Co-founder of Diversity VC, commented: “Yanwen has not one but two PhDs focusing on optimization of distributed and autonomous systems and 11 years of experience in robotics managing engineering teams and building software. She developed the algorithm that allows robots to self-orchestrate safely even when they lose connection to central networks. We are delighted to be investing in a such a visionary founder who is shaping the future of edge computing, robotics and autonomous systems.”
