Slamcore, a spatial intelligence company that gives situational awareness to robots, drones, machines, and VR/AR headsets, has raised $16 million in a series A round of funding.
With the global mobile robot market currently undercover to be a $22 billion industry within a decade, Slamcore is betting that its AI-powered localization and mapping algorithms will play a significant role in the development of autonomous robots, whether it be drones, vacuum cleaners, or warehouse picking-and-packing systems.
Throw in the mix the booming metaverse movement that focuss heavily on virtual reality (VR) and AR, requiring humans and machines to map and navigate both real and virtual worlds simultaneously, and it''s clear that Slamcore is fairly well future-proofed.
In a press release, Slamcore''s founder and CEO Owen Nicholson said that robots have failed to be able to navigate physical spaces with the degree of accuracy and efficiency that we know is possible. Consequently, Slamcore is attempting to ensure that as many designers as possible have access to the algorithms needed to improve their products.
Slamcore, founded out of London in 2016, has developed AI algorithms that will answer three main questions that a moving machine may need to answer: Where am I in 3D space? What are the objects around me? And where are the objects around me?
One major problem for SLAM, known in industry research, is the ability to encrypt autonomous vehicles in an environment without imposing obstacles.
Even if it is indoors or in built-up areas where GPS is less effective, finding precise positional awareness is no easy task. Slamcore is attempting to solve the fundamental problem by assisting machines to both map and move through new environments using nothing more than data from the machine itself to create maps of environments in real time.
So Slamcore, who works effectively, converts sensor data from lidar, sonar, radar, and more into a real-time spatial understanding, and delivers this to businesses via a software development kit (SDK).
With affordable cameras and components that will benefit large corporations and improve the user experience of consumer products, Nicholson said, we provide accurate, robust, and commercially viable SLAM.
Slamcore is a software and AI company at its core, but it must pay close attention to the kinds of hardware that are used by businesses operating in the robotics or AR/VR industry. It claims that it has optimized its algorithms for some of the most widely used sensor and processor combinations, which allows designers and developers to use Slamcore out-of-the-box without having to worry about the size.
Slamcore had raised around $11 million from big-name investors, including Toyotas venture capital firm, which once again participated in the company''s latest fund round, which was co-led by Robo Global Ventures and Presidio Ventures. Other participants included Samsung Ventures, Amadeus Capital, Global Brain, MMC, Yamato Holdings, and Octopus.
Slamcore has raised $16 million in revenue, boosting its reputation for using its proven technology in lab experiments led by major companies including Facebook''s parent company Meta, which invested heavily in Slamcore as part of its acquisition of Bombyx, a fiber-deployment robot that increased along electricity distribution lines.
Nicholson said that this funding will enable us to rapidly expand to meet demand from consumer electronics, logistics, industrial, and manufacturing industries. All of them are eager to deploy a low-cost, high-excess SLAM at commercial scale.