Nandan Nilekani, Accel invest $1.38M in industrial robotics venture Systemantics
Industrial robots maker Systemantics India Pvt Ltd has secured $1.38 million (Rs 9.4 crore) in funding from Infosys co-founder Nandan Nilekani and venture capital firm Accel Partners, according to data from VCCEedge, citing RoC filings.
The deal was closed in October 2015.
The development was first reported by The Economic Times in a news report quoting Nilekani, without mentioning the transaction value.
Emails sent to Systemantics were not answered till the time of writing this report.
Founded by IIT-Madras alumnus Jagannath Raju, Systemantics develops robots for industrial usage. It specialises in 'pick and place' robots, walking machines, underwater robotic arms and animatronic dolls, besides other products.
In 2013, Systemantics had raised an undisclosed amount in funding from Blume Ventures, angel investor Ravi Gururaj and others.