By using this site, you agree to the Privacy Policy and Terms of Use.
Accept

News Junction

Notification Show More
Font ResizerAa
  • Home
  • World News
    World NewsShow More
    Trump says ex-FBI director called for his ‘assassination’ — RT World News
    Trump says ex-FBI director called for his ‘assassination’ — RT World News
    May 17, 2025
    Novogratz’s Galaxy Digital opens trading on the Nasdaq at .50
    Novogratz’s Galaxy Digital opens trading on the Nasdaq at $23.50
    May 16, 2025
    Trump says Iran has U.S. proposal on its nuclear program – National
    Trump says Iran has U.S. proposal on its nuclear program – National
    May 16, 2025
    US cable giants Charter and Cox pursue .5 billion merger
    US cable giants Charter and Cox pursue $34.5 billion merger
    May 16, 2025
    UK political opinion poll tracker
    UK political opinion poll tracker
    May 16, 2025
  • Business
    BusinessShow More
    Ukraine blows up bridges to consolidate its positions in Russia
    Ukraine blows up bridges to consolidate its positions in Russia
    August 18, 2024
    Commentary: AI phones from Google and Apple will erode trust in everything
    Commentary: AI phones from Google and Apple will erode trust in everything
    August 18, 2024
    The most famous Indian Dishes – Insights Success
    The most famous Indian Dishes – Insights Success
    August 18, 2024
    Life on the road as a female long rides cyclist
    Life on the road as a female long rides cyclist
    August 18, 2024
    UK inflation rises to 2.2%
    UK inflation rises to 2.2%
    August 18, 2024
  • Cryptocurrency
    CryptocurrencyShow More
    PI coin price prediction as it drops below  despite 0m Pi Network Ventures launch
    PI coin price prediction as it drops below $1 despite $100m Pi Network Ventures launch
    May 17, 2025
    Nexchain Gains Traction as the Crypto Presale Approaches Stage 12
    Nexchain Gains Traction as the Crypto Presale Approaches Stage 12
    May 16, 2025
    Sovereign Wealth Funds Are Racing For Bitcoin: Eric Trump
    Sovereign Wealth Funds Are Racing For Bitcoin: Eric Trump
    May 16, 2025
    Coinbase (COIN) Hack Reaction ‘Overblown,’ Analysts at Barclays and Oppenheimer Believe
    Coinbase (COIN) Hack Reaction ‘Overblown,’ Analysts at Barclays and Oppenheimer Believe
    May 16, 2025
    BTC, ETH, XRP, BNB, SOL, ADA, DOGE, PI, HBAR, LINK
    BTC, ETH, XRP, BNB, SOL, ADA, DOGE, PI, HBAR, LINK
    May 16, 2025
  • Technology
    TechnologyShow More
    How to Improve Your Spotify Recommendations
    How to Improve Your Spotify Recommendations
    August 18, 2024
    X says it’s closing operations in Brazil
    X says it’s closing operations in Brazil
    August 18, 2024
    Supermoon set to rise: Top tips for amateur photographers | Science & Tech News
    Supermoon set to rise: Top tips for amateur photographers | Science & Tech News
    August 18, 2024
    Scientists Want to See Videos of Your Cat for a New Study
    Scientists Want to See Videos of Your Cat for a New Study
    August 18, 2024
    OpenAI’s new voice mode let me talk with my phone, not to it
    OpenAI’s new voice mode let me talk with my phone, not to it
    August 18, 2024
  • Entertainment
  • Sports News
  • People
  • Trend
Reading: Phinxt Robotics secures £2M funding to scale robotics automation with innovative edge AI platform
Share
Font ResizerAa

News Junction

  • World News
  • Business
  • Technology
  • Cryptocurrency
  • Trend
  • Entertainment
Search
  • Recent Headlines in Entertainment, World News, and Cryptocurrency – NewsJunction
  • World News
  • Business
  • Cryptocurrency
  • Technology
  • Entertainment
  • Sports News
  • People
  • Trend
Have an existing account? Sign In
Follow US
News Junction > Blog > Business > Phinxt Robotics secures £2M funding to scale robotics automation with innovative edge AI platform
Phinxt Robotics secures £2M funding to scale robotics automation with innovative edge AI platform
Business

Phinxt Robotics secures £2M funding to scale robotics automation with innovative edge AI platform

Published August 11, 2024
Share
4 Min Read
SHARE

PHINXT Robotics, an AI-driven robotics software company, has secured £2 million in an oversubscribed funding round to advance its innovative edge AI platform that simplifies and scales robotics automation in warehouses.

The round was led by Sure Valley Ventures with participation from Ada Ventures, Heartfelt and Atlas Ventures.

Founded in 2022, PHINXT Robotics is transforming the landscape of warehouse automation with a cloud-based platform that drastically reduces the cost and complexity of robotic deployments. Traditionally, high setup costs—often exceeding £500,000—have been a barrier to automation, leaving over 90% of warehouses fully manual. PHINXT addresses this with its decentralised edge AI technology, which simplifies the coordination of robots at the edge, making automation accessible to more businesses.

The platform is robot-agnostic, allowing businesses to select and deploy the specific types of robots they need, leading to remarkable operational improvements. Companies using PHINXT’s technology have reported doubled profit margins and productivity increases of up to 400%.

PHINXT has already gained significant traction in the market, securing contracts following a successful pilot with a major UK grocery retailer. The new funds will be used to expand the company’s engineering and sales teams and support its expansion into mainland Europe, where it sees substantial growth opportunities. The global mobile robot market is projected to reach $16 billion by 2027, with an estimated 2.4 million mobile robots in operation.

Looking to the future, PHINXT aims to extend its technology beyond warehouse automation to include delivery drones and autonomous vehicles. The company’s core decentralised edge computing technology, which enables machines to coordinate within a distributed network, positions it to innovate in these frontier technologies.

PHINXT’s CEO and Co-Founder, Yanwen Chen, is an expert in robotics with two PhDs in computer science and synchronisation communications. Her pioneering algorithm enables robots to self-orchestrate even when disconnected from central networks, ensuring safety and efficiency in autonomous operations. Chen co-founded the company with Quirino Zagarese, PhD, an expert in distributed systems, to build a scalable architecture and product.

Yanwen Chen commented on the funding round: “At PHINXT, our mission is to revolutionise the logistics industry with our cloud-based platform that seamlessly integrates any type of robot, enabling them to collaborate and coordinate in a shared space without the need for a centralised server. This investment will empower us to expand our team and enter new markets, driving further growth and innovation.”

Brian Kinane, Founding Partner at Sure Valley Ventures, praised PHINXT’s approach, stating: “PHINXT’s unique edge computing technology helps warehouses drastically increase performance and profitability, providing a highly flexible and cost-effective robotics solution that will enable far greater adoption. With their cutting-edge proprietary technology, PHINXT is extremely well-positioned to disrupt this market globally.”

Check Warner, Partner at Ada Ventures and Co-founder of Diversity VC, highlighted the strength of PHINXT’s leadership: “Yanwen Chen is without doubt one of the strongest technical founders we’ve met. We are delighted to be investing in such a visionary founder who is shaping the future of edge computing, robotics, and autonomous systems.”

This £2 million round follows a previous £600k raise from investors including Fuel Ventures, Amar Shah, and Atlas Ventures, marking another milestone in PHINXT’s journey to redefine robotics automation on a global scale.

#Phinxt #Robotics #secures #funding #scale #robotics #automation #innovative #edge #platform

- Advertisement -
TAGGED:automationEdgefundingInnovativePhinxtPlatformroboticsscalesecures
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Share
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article Macro Factors To Take Center Stage Macro Factors To Take Center Stage
Next Article King Charles appears in good spirits as he drives a waving Queen Camilla to a service at Crathie Kirk near Balmoral – after speaking out about riots King Charles appears in good spirits as he drives a waving Queen Camilla to a service at Crathie Kirk near Balmoral – after speaking out about riots
- Advertisement -

Latest Post

Trump says ex-FBI director called for his ‘assassination’ — RT World News
Trump says ex-FBI director called for his ‘assassination’ — RT World News
World News
PI coin price prediction as it drops below  despite 0m Pi Network Ventures launch
PI coin price prediction as it drops below $1 despite $100m Pi Network Ventures launch
Cryptocurrency
Nexchain Gains Traction as the Crypto Presale Approaches Stage 12
Nexchain Gains Traction as the Crypto Presale Approaches Stage 12
Cryptocurrency
Novogratz’s Galaxy Digital opens trading on the Nasdaq at .50
Novogratz’s Galaxy Digital opens trading on the Nasdaq at $23.50
World News
Sovereign Wealth Funds Are Racing For Bitcoin: Eric Trump
Sovereign Wealth Funds Are Racing For Bitcoin: Eric Trump
Cryptocurrency
Trump says Iran has U.S. proposal on its nuclear program – National
Trump says Iran has U.S. proposal on its nuclear program – National
World News
- Advertisement -

You Might Also Like

Live news: Supreme Court puts Purdue Pharma’s bn bankruptcy settlement on hold
Business

Live news: Supreme Court puts Purdue Pharma’s $6bn bankruptcy settlement on hold

August 11, 2023
Railroads say they’re making safety changes to reduce derailments after fiery Ohio crash
Business

Railroads say they’re making safety changes to reduce derailments after fiery Ohio crash

February 3, 2024
Pollo Tropical restaurant chain to be sold in 5M deal – WSJ (NASDAQ:FRGI)
Business

Pollo Tropical restaurant chain to be sold in $225M deal – WSJ (NASDAQ:FRGI)

August 7, 2023
Google parent Alphabet slashes stake in trading app Robinhood
Business

Google parent Alphabet slashes stake in trading app Robinhood

August 6, 2023

About Us

NEWS JUNCTION (NewsJunction.xyz) Your trusted destination for global news. Stay informed with our timely and accurate reporting on diverse topics, including politics, technology, science, entertainment, sports, and more. Count on us for unbiased and reliable updates at your fingertips.

Quick Link

  • About
  • Disclaimer
  • Privacy Policy
  • Terms of Use
  • Contact

Top Categories

  • World News
  • Business
  • Technology
  • Entertainment
  • Cryptocurrency
  • Sports News
  • Trend
  • People

Subscribe

Subscribe to our newsletter to get our newest articles instantly!

    © 2023 News Junction.
    • Blog
    • Advertise
    • Contact
    Welcome Back!

    Sign in to your account

    Username or Email Address
    Password

    Lost your password?