CONTORO ROBOTICS RAISES $4.7M IN SEED ROUND

Funding Accelerates Development of Robot Technology Powered with Augmented Intelligence

AUSTIN, Texas, June 28, 2023 /PRNewswire/ -- Today Contoro Robotics, a company augmenting robot intelligence with AI and teleoperation, announced that it has raised $4.7 million in Seed funding. The round was led by SV Investment with participation from Kakao Ventures, Bass Investment, Future Play, and UT Austin Seed Fund.

Last year, Contoro Robotics raised a $1.3 million Pre-seed round led by Village Global, which is backed by industry luminaries such as Bill Gates, Jeff Bezos, and Mark Zuckerberg. Including Seed Round, Contoro has raised $6M up to date.

"We are excited to announce this investment which will allow us to accelerate the deployment of our augmented intelligence technology," said Youngmok Yun, CEO and founder of Contoro Robotics. "We're making headway in the logistics domains and we're confident diverse industries can benefit from our innovative solutions."

Contoro Robotics' technology combines artificial intelligence (AI) with human expertise. AI is used to control the robot in most situations, but humans can intervene when necessary. This approach allows Contoro Robotics' technology to be used in a wide range of applications, from simple tasks that can be easily automated to complex tasks that require human judgment.

"We believe that Contoro Robotics' technologies including exoskeleton, haptics, artificial intelligence, teleoperation have the potential to effectively optimize algorithm structures that robot human-like thinks and acts," said Il-Yong Choi, Ph.D., Investor at SV Investment. "It means that Contoro Robotics' approach can be applied to a lot of ordinary tasks and then accelerate that robot itself can be much more accessible and affordable in our daily lives."

Contoro Robotics is currently focused on solving oversea container unloading challenges for warehouse businesses. Contoro robots will help reduce the cost and time of container unloading, and will also improve safety. A pilot program using Contoro Robotics' technology is scheduled to launch in Q3 of 2023.

About Contoro Robotics (http://contoro.com)
Contoro Robotics is a company developing AI/teleoperation technology that enables robots to be controlled autonomously and remotely from anywhere in the world. The company's mission is to introduce advanced intelligence to robotic arms by combining AI and human intelligence. This will open a wide range of possibilities for robot usage in a variety of industries such as logistics, manufacturing, and agriculture.

Contact: 

John Cook, [email protected] 

1807 W Braker Ln, STE C500, Austin, TX 78758

SOURCE Contoro Inc.