- UK-based robot startup BotsAndUs has raised £2 million ($2.5 million) from VC investors Kindred Capital and Capnamic Ventures.
- The company secured its first institutional funding round during coronavirus amid an increase in demand and enquiries for its services.
- "COVID-19 has pushed autonomous tech into spotlight and it's ready to be deployed in these dynamic areas and we can benefit from it," BotsAndUs CEO and cofounder Andrei Danescu told Business Insider in an interview. "People have snapped out of their uncertainty with covid and realised the potential of robots which has accelerated everything."
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Robotic automation startup BotsAndUs is hoping that the reopening of public places in Europe will lead to a boom in its product's use.
People are understandably concerned about the prospect of catching COVID-19 in busy, enclosed spaces like airports and retail centres from other members of the public. One potential solution: robots.
The startup has just raised £2 million ($2.5 million) from VC investors Kindred Capital and Capnamic Ventures to continue scaling its operation amid a boom in demand during coronavirus. The company's robots can offer 24/7 customer service and can help businesses to do on-site data collection and analytics.
"COVID-19 has pushed autonomous tech into spotlight and it's ready to be deployed in these dynamic areas and we can benefit from it," BotsAndUs CEO and cofounder Andrei Danescu told Business Insider in an interview. "People have snapped out of their uncertainty with COVID-19, and realized the potential of robots which has accelerated everything."
The company's funding round is its first institutional investor round having previously received funding from the European Union's Horizon 2020, Innovate UK and accelerators such as Robot Union and GENIUS NY. This funding takes the startup's total funds raised to $6 million.
Among BotsAndUs' clients are MediaMarktSaturn, Heathrow Airport, British Airways and travel services firm Dnata.
"It's been challenging because we are a full-stack solution," Danescu added. "We design the hardware, do the software, and engage with customers, many of our suppliers and supply chains have been disrupted by COVID-19."
Additionally, getting funding entirely over video was no small task either. "It's a lot harder to get a feel for investors over video," Danescu said.
The funding will go towards industrializing the company's processes while adding to the four staff members who have been hired and onboarded remotely during the past few months.
Check out BotsAndUs' pitch deck below:
