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Israeli startup, Cogniteam, raises $5.6m to enhance AI robotics services

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2 years ago

July 4, 2022

All Naija Entertainment

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Israel-based startup, Cogniteam, has announced raising a $5.6 million round to enhance services through Nimbus, its proprietary low-code AI robotics platform.

The Co-Founder and CEO, Dr. Yehuda Elmaliach, on Monday confirmed the development in a press statement made available to Ripples Nigeria.

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According to Dr. Yehuda, the round saw participation from previous investors including Seabarn Management, (Andrew Owens) and UK-based Panthera family office members.

Ripples Nigeria gathered the round is expected to enable Cogniteam boost product development and Nimbus sales further as the robotics revolution continues to show both consumer and commercial demand.

Since its debut in 2007, the startup has boosted collaborative robotic development capabilities, helping companies bring new robotic programs to market in a fraction of the time.

Speaking on the development and vision of the company, Dr. Yehuda said:

“Our low-code approach to robotics development is changing the programming landscape.

“We reimagined what is possible to accelerate and future-proof robotic development with the Nimbus platform.

“Nimbus’ low-code approach is changing the programming landscape by offering a simulated environment where software developers can thoroughly test their capabilities before the prototype physical robot build-out has been completed.”

Commending the startup for recording significant impact and growth in the market, lead investor, Andrew Owens, noted that the new investment was an opportunity for investors to increase stakes in the company.

He said: “We seized the opportunity to increase our investment in Cogniteam following the successful launch of Nimbus and the team’s demonstrated ability to surpass critical milestones.

“Cogniteam’s proven capabilities have generated exciting demand from the market, which the investors are excited to facilitate.”

Meanwhile, the 15-year old Cogniteam has been handpicked to co-lead a $20 million Human-Robot Interaction (HRI) consortium, funded by the Israeli Innovation Authority.