Funding

mimic funding news – Robotics Startup mimic Secures €2.3 Million in Pre-Seed Funding

May 7, 2024 | By Startup Rise EU

Switzerland-based mimic, is to challenge US supremacy in the robotics space and compete to be the first to bring a robotic arm and humanoid hand combo to market through the use of generative AI has raised €2.3 million in pre-seed investment

Switzerland-based mimic, is to challenge US supremacy in the robotics space and compete to be the first to bring a robotic arm and humanoid hand combo to market through the use of generative AI has raised €2.3 million in pre-seed investment

SUMMARY

  • Switzerland-based mimic , a robotics startup founded by Elvis Nava, Stefan Weirich, Stephan-Daniel Gravert and Benedek Forrai in 2024.
  • It secures €2.3 million in pre-seed funding, to keep working on creating a cooperative robot with hands like a human

Early-stage Swiss investor Founderful is leading the funding round, with participation from UK-based Tiny.vc, German firm another.vc, and an exclusive group of specialised angel investors.

The team's first goal was to create a foundation model for robotic manipulation, but they soon saw how valuable their notion would be in transforming the way robots integrated into the economy and daily life.

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Co-founder Stephan-Daniel Gravert said, “Most use cases are stationary and do not require a full humanoid robot with legs. That’s why we focus data-collection and hardware ingenuity on a universal robotic hand that is compatible with off-the-shelf industrial robotic arms for positioning,”.

With the use of this technology, a robot with humanoid hands would be able to comprehend and mimic any behaviour by only observing a person engaging in it. This is a change from traditional robotic technologies, which emphasise being specifically designed for limited use cases. Robots can only accomplish the highly specialised tasks for which they are intended since each use case necessitates costly ad hoc engineering and extensive pre-programmed motions.

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With the help of a basic AI model, mimic's robots will be able to think and comprehend the real world. The end result is that robots can do jobs with little to no assistance from engineers and without the need for costly, time-consuming programming for every new activity.

These robots are made for any business where labourers are employed to perform monotonous, difficult-to-automate activities requiring sophisticated motor skills. The team has already received approaches from a broad spectrum of potential clients, including manufacturing, recycling, supermarkets, industrial baking, and cuisine, as well as pharmaceutical lab automation.

Co-founder Stefan Weirich. “Conventional automation leaves a huge gap of tedious, low to medium volume manual labour tasks that often fall under the table because they are too complex or not economical to automate. For companies from retail to manufacturing, it becomes increasingly harder to find the right staff for these tasks. Taking AI-driven robotic manipulation to the next level, we can now address these challenges with unparalleled flexibility and ease of use,”.

Alex Stöckl, founding partner at Founderful, commented: “We were impressed by mimic’s technology and vision. We believe that the market for AI driven robots is going to grow exponentially, and we will see these robots gain widespread adoption very soon”.

About mimic

In 2024, Benedek Forrai, Stefan Weirich, Stephan-Daniel Gravert, and Elvis Nava launched mimic. Working under Professor Robert Katzschmann's Soft Robotic Labs, the initial team was engaged in the nexus of robotics and artificial intelligence.

AI algorithms that are scalable for widespread robotic manipulation. Automate your most difficult and time-consuming manual labour jobs with ease, from manufacturing to retail.

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