PHINXT funding news – London-based PHINXT Robotics Secures €2.3 Million in an Oversubscribed Funding

A decentralised edge AI software solution has been developed by PHINXT to facilitate robotics automation at any scale. The company was founded in 2022 and its cloud-based platform, which supports a flexible monthly subscription plan and streamlines robotic installations, intends to change the landscape of warehouse automation.

Historically, the implementation of robotics in warehouses has been impeded by prohibitive setup expenses, which frequently surpass £500k, and the intricacy of on-site deployment. As a result, more than 90% of warehouses still use only manual labor.

With its unique technology that coordinates robots at the edge and simplifies robotic deployments by a factor of ten, PHINXT Robotics takes on these difficulties head-on.

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The extensive selection of robots supported by PHINXT's platform enables clients to choose and implement the precise kind of robotics they require. Because of this, companies using PHINXT's technology have seen amazing gains, such as doubled profit margins and up to four times higher productivity.

Yanwen Chen, the co-founder and CEO of PHINXT, is a virtuoso in this field, having earned two PhDs in robotics synchronization communications and computer science. The system Yanwen created enables robots to safely self-orchestrate even in the event that their links to central networks are lost. Together with distributed systems expert Quirino Zagarese, PhD, she co-founded the business in order to work together on creating 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 plans to utilize the money to expand into continental Europe, where the management sees significant promise, and to develop its technical and sales teams. The founders of PHINXT state that their long-term goal is to automate more than only warehouse robotics and include autonomous cars and delivery drones.

PHINXT will be able to implement solutions in frontier technologies like autonomous vehicles with further development of the platform, since the underlying decentralized edge computing technology allows coordinating devices inside a distributed network.

The company was named one of the most creative European female-led startups utilizing AI in the future of software, and it recently graduated from the Female Foundry Visionaries AI Incubator in collaboration with Google Cloud.

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.”

About PHINXT Robotics

The goal of PHINXT Robotics is to automate autonomous mobile robotics in warehouses of any size. Their platform encompasses services like commodities to person, material handling, and package sorting and integrates any kind of autonomous mobile robot (AMR). Their in-house, state-of-the-art technology offers a comparatively short ROI (less than a year), rapid and adaptable deployment, as well as exceptional accuracy and efficiency.