SLAMcore raises $16 million to deliver low-cost, spatial understanding to robots, autonomous machines and consumer electronics products
This new funding will allow the business to rapidly capitalise on its proven technology which combines AI with consumer-grade cameras, sensors and processors to solve the complex challenges of mapping and navigating for a wide range of autonomous machines and devices.
We're delighted to be backing Owen and the SLAMcore team again in this funding round alongside Robo Global, Presidio Ventures, IP Group, Global Brain, Amadeus Capital and Octopus. Strategic investors Toyota Ventures, Samsung Ventures and Yamato Holdings also joined the round.
SLAMCore uses deep learning to help robots, consumer products and drones identify physical space, objects and people around them in order to autonomously navigate the real world in a safer and more efficient way. Its algorithms allow robots from domestic vacuum cleaners to precision industrial autonomous vehicles to precisely map the physical environment around them and locate themselves accurately within those maps through what is known as Simultaneous Localization and Mapping (SLAM). The technology is also used by producers of VR and AR headsets that require mapping and location to accurately align virtual and physical worlds.
A key objective for SLAMcore is to democratise robotic technology by making SLAM more cost-achievable to larger swathes of robotics designers. SLAM is currently one of the trickiest elements in creating machines and devices that can autonomously navigate and can take months of development time and thousands of dollars in sensors and processors to get right. SLAMcore’s algorithms allow any designer to use a simple hardware set-up of two low-cost cameras and an inertial measurement unit (IMU) to deliver SLAM functionality ‘out-of-the-box’. As a result, many more designers are able to bring their autonomous solutions to market faster and more cost-effectively.
“For far too long, robots have not been able to navigate physical spaces with the level of accuracy and efficiency that we know is possible. As they become more available to companies and consumers alike in years to come, SLAMcore is determined to ensure that as many designers as possible have access to the algorithms needed to optimise their products. We provide accurate, robust and commercially viable SLAM using affordable cameras and components that will benefit wide swathes of businesses and improve the user experience of consumer products.”Owen Nicholson, Founder and CEO, SLAMcore
SLAMcore’s technology has already been used by major technology companies such as Meta, and with the market for autonomous and spatially aware machines predicted to exceed $100 billion by 2030, the opportunities for the business’ software are immense. Increasing interest in the metaverse will further stimulate the market for wearable and attachable devices that allow humans as well as machines to map and safely navigate real and virtual worlds simultaneously.
Read more on the fundraise via VentureBeat and TechCrunch.