Singapore-based autonomous technology solutions startup SESTO Robotics has raised a S$4 million ($2.9 million) Series A round from Singtel’s VC arm, Singtel Innov8, and Temasek-owned Heliconia Capital Management.
Simultaneously, it also announced that its spin-off from parent company HOPE Technik has been completed.
In a statement today, SESTO Robotics said, the spin-off was in line with the strategic plan to expand its portfolio while accelerating the delivery of its products to customers using autonomous monile robot (AMR) technology.
The funding will enable the startup to develop its new AMR solutions and geographical expansion beyond its current markets in China and Singapore.
“New and mature companies alike are looking into implementing intelligent automation and the completion of this spin-off and injection of initial funding will further strengthen SESTO Robotics’ product positioning. The strategic guidance and support shown by Singtel Innov8 and Heliconia Capital Management have been instrumental to our growth and we look forward to working with them to bring SESTO Robotics to greater heights after this spin-off,” said SESTO Robotics CEO Michael Leong.
SESTO Robotics was a business division of HOPE Technik, a Singapore-based engineering firm that builds drones and firefighting robots. The latter is also backed by Singtel Innov8 and Heliconia Capital.