Octopus Ventures and MMC Ventures lead $5 million funding round for SLAMcore

Author

UK Business Angels Association

18 June 2020

UK company SLAMcore, who develop spatial AI algorithms for robots and drones, have secured $5 million in funding.

The round was led by by Octopus Ventures and MMC Ventures, and it will allow them to meet the demand created in the robotics market by the pandemic.

CEO Owen Nicholson commented: “Even before the crisis, SLAMcore was engaged in many conversations with companies – big and small – who needed a better way to solve spatial intelligence issues in robotics. Especially across sectors such as drones, robots, and AR/VR, the coronavirus pandemic has lit the touch-paper and we are primed to meet exploding demand.”

Mina Samaan, principal at MMC Ventures, explained: “The ability to locate and map in real-time is still unsolved in the vast majority of autonomous designs. Therefore, affordable SLAM delivered as-a-service at scale is fundamental to unlocking the adoption of self-driving robots across all indoor and outdoor applications including agriculture, warehousing and last-mile delivery.”

SLAMcore was founded in 2016 with the aim of helping to solve the spatial awareness obstacle that meant robots could not move autonomously.

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