August 30, 2024
Switzerland-based Deep Tech Startup Swiss-Mile Raises $22M in Seed Funding to Advance AI-Powered Industrial Robots
Zürich, Switzerland –
Swiss-Mile, a deep tech spin-off from ETH Zurich specializing in AI-powered industrial robots, has successfully raised $22M in its seed funding round. The funding round, which took place on August 29, 2024, was co-led by Jeff Bezos through Bezos Expeditions and HongShan, with significant contributions from the Amazon Industrial Innovation Fund, Armada Investment AG, and existing investor Linear Capital. Swiss-Mile aims to utilize the fresh capital to expand its operations and further its development efforts, particularly in the areas of last-mile delivery and critical infrastructure security.
About the company
Swiss-Mile, founded in April 2023, is at the forefront of robotics innovation, focusing on developing versatile mobile robots capable of navigating diverse environments with exceptional mobility. The company’s robots are engineered with a combination of wheels and legs, allowing them to overcome obstacles with speed and efficiency while carrying substantial payloads. By integrating AI-based autonomy, Swiss-Mile’s robots address the limitations of existing robotic solutions, particularly in real-world reasoning, making them highly adaptable for a variety of industries.
Purpose of financing
The newly secured funds will be pivotal in expanding Swiss-Mile's research and development efforts, enhancing the AI capabilities of their robots, and scaling operations to meet growing demand. The company plans to deploy its robots across various sectors, including smart cities for last-mile delivery and critical infrastructure for security purposes. This expansion is expected to help address labor shortages, reduce operational costs, and improve safety in challenging environments.
What the company’s official has to add
Dr. Marko Bjelonic, CEO of Swiss-Mile, expressed his excitement about the future, stating, "This funding round is a significant milestone for Swiss-Mile. The support from our investors, including some of the most prominent names in the tech and industrial sectors, will enable us to accelerate our mission of transforming industries with cutting-edge robotic solutions. We are committed to pushing the boundaries of what's possible in robotics and look forward to the impact our technology will have on various industries."
Conclusion
Swiss-Mile’s successful seed funding round marks a critical step in the company’s journey to revolutionize the robotics industry. The $22M investment will not only support the company's growth but also enable it to bring innovative solutions to market, addressing some of the most pressing challenges faced by industries today.
The company’s leadership team, composed of experts in robotics and AI, is confident that the funding will enable them to continue innovating and expanding their product offerings. With a strong foundation in research and early successes in pilot deployments, Swiss-Mile is poised to become a key player in the robotics industry.
Swiss-Mile LinkedIn.