SVT Robotics Closes Investment to Accelerate Market Traction for Their Robotic Integration Platform as a Service (IPaaS)
NORFOLK, VA: SVT Robotics, a startup whose software expedites and simplifies deployment of industrial robotics, closed investment round led by Dynamo Ventures with participation from Schematic Ventures, Cowboy Ventures, and Ludlow Ventures.
This impressive investor group comprises some of the most sophisticated seed capital, with an excellent balance of supply chain and technology-oriented funds.
“There is a major need for middleware solutions to accelerate the deployment of robots among warehousing and distribution stakeholders. We're proud to back SVT co-founders A.K. Schultz and Michael Howes who bring decades of experience in software, supply chain, and industrial automation to solve this problem,” said Santosh Sankar of Dynamo Ventures.
In 2018, SVT Robotics launched their software platform, which delivers the fastest, simplest way to connect any robot to any enterprise system. The demand for this platform has been exceptional and continues to grow.
“There’s been an amazing response in the market,” said A.K. Schultz, CEO, “It’s really exceeded our expectations, and within a few months of platform launch we have already secured multiple international customers in both warehousing and manufacturing.”
Michael Howes, COO/CTO, added, “While we’re continually expanding the product functionality, our end customers have asked us to accelerate features further out on the roadmap.”
For this reason, the SVT Robotics team sought investment to accelerate sales and roadmap features to meet increasing market demand. The current investment will be used to get those features to market more quickly, as well as support their growing client list.
Schultz said, “We’re excited about the deployments we have upcoming in 2019, as well as being able to accelerate development of those product features to meet customer demand.”
SVT Robotics will also utilize the funds to scale up the product and sales teams to help realize these objectives.
“Robot system connectivity is a massive problem,” said Julian Counihan of Schematic Ventures. "SVT is tailor-made for this huge, unmet need in the market."
About SVT Robotics
Founded in 2018, SVT Robotics is a software company that’s revolutionizing robot deployments in warehousing and manufacturing industries. SVT’s software platform enables companies to easily connect their enterprise systems to any robot or automation, in a fraction of the time, empowering them to compete in a quickly changing marketplace. Also, connect with SVT Robotics on Twitter, Facebook, LinkedIn, and svtrobotics.com.