Hyderabad-based robotics startup Endless Robotics Pvt Ltd has raised $100K in pre-seed round of funding on startup investment platform TermSheet.io. The round saw participation from individual investors and angel investment firms from the US, Singapore and India.
Founded in 2015, Endless Robotics, develops robots and automation solutions that allow builders, real-estate developers and infrastructure companies perform better. It provides a service that combines paint spray technology with advanced and disruptive robotics that shrink project timelines, deliver unprecedented quality at much lesser costs, and create safe & efficient working environments for on-site personnel.
“The idea of automation around buildings and real estate just clicked with us from the very outset. We realised that robots can soon be a very real part of our everyday future by focusing on solving problems related to something as fundamental as building and maintaining modern day homes and offices. Against all odds, our team decided to take the hardware leap amidst the ecommerce frenzy,” said Srikar Reddy, co-founder at Endless Robotics.
As per the founders, the robots produced are 30 times faster than handheld brush painting and the solution uses the best of spray mechanisms with the precision, consistency and intelligence. The team plans to target small to mid-level new residential projects in Hyderabad. Initial customer acquisition will be through referenced engagements and recommendations rather than costly marketing channels.
“In the last 10 months we have made progress from an idea to first revenues, encompassing research, prototyping, fundraising, patenting and hiring. In the coming months we will integrate our products into our services, strengthen our team and increase adoption among customers. We will use the funds in product development, hiring talent, training service personnel and piloting our service on small to medium scale constructions” said Srikar.
TermSheet.io is a platform that automates deal discovery, orchestration and closing led by Vivek Durai and Sonia Pradhan. More than 450 investors have signed up for TermSheet.io since its launch. Its team currently focusses on seed investments in very interesting startups.