PHINXT Robotics, a London-based AI-led robotics software company, has raised £2 million in a funding round led by Sure Valley Ventures.
The company has developed a groundbreaking software solution that simplifies and scales robotic automation in warehouses. By addressing the high costs and complexity associated with traditional robotic deployments, PHINXT is enabling businesses to adopt automation more easily.
PHINXT has already secured significant contracts, including a major deal with a UK grocery retailer. The new funding will be used to expand the team and explore new markets in Europe.
Founded by AI experts Yanwen Chen and Quirino Zagarese, PHINXT has a clear vision to extend its technology beyond warehouses to delivery drones and autonomous vehicles.
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.
“This investment will empower us to expand our team and enter new markets, driving further growth and innovation. We are excited to partner with value-add investors who recognize the uniqueness of our technology and its transformative potential across autonomous robots, drones, and autonomous vehicles.”
Sure Valley Ventures also revealed a $1m investment in Vortex IQ, an AI-powered automation platform for e-commerce. The funding will support Vortex IQ’s expansion into the US and European markets.
Both investments align with the venture capital firm’s focus on supporting early-stage software companies in the AI and robotics sectors.
Brian Kinane, Founding Partner at Sure Valley Ventures, said: “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. From day one, what stood out to us was the strength of PHINXT’s founding team, Yanwen and Quirino, who have spent years specialising in robotics automation and distributed systems. As a specialist AI investor, we believe this is one of the strongest AI propositions to come out of the UK this year. 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.”
