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Introducing robots to improve productivity has become a necessity in manufacturing processes. With numerous robot manufacturers flooding the market with industrial robots, a control system that allows for simple and efficient operation is not an option but a mandatory condition for companies. This is why funding has poured into a startup developing solutions that automate tasks on the factory floor by combining 3D vision technology and artificial intelligence (AI).
Modular robot automation platform developer WithPoints recently secured 1.5 billion won in investment from Crit Venture, completing a pre-Series A round totaling 4 billion won. In addition to Crit Venture, Future Play, We Ventures, and the Bankers' Youth Startup Foundation (DeCamp) participated as major investors.
Founded in 2019, WithPoints develops automation solutions tailored for manufacturing environments such as quality inspection, welding, sanding, assembly, and logistics by utilizing 3D vision technology. Its automated platform, named 'Winet', is characterized by its ability to integrate and control various types of robots and 3D cameras.
Crit Venture, which led this round, cited the company's technical suitability focused on the factory floor as a key strength. A major investment point was that Winet has dramatically improved the historically cumbersome complex operation methods associated with introducing robots into manufacturing sites.
Im Yong-muk, team leader at Crit Venture, explained the background of the investment: "In the existing market, the 'teaching' process, which requires inputting every single movement for a robot, was tedious, and the rigidity of having to reconfigure whenever the work environment changed slightly were pain points. WithPoints has implemented its own unique 'Teaching-less' environment that allows even unskilled workers to operate robots without coding."
It also received high praise for possessing data processing capabilities in extreme environments. Team leader Im stated, "While most vision AI companies focus on controlled indoor environments or simple logistics processes, WithPoints has demonstrated its technical prowess at sites like shipyards with strong reflections, light scattering, and heavy vibrations."
He continued, "We judged that the site know-how and data accumulated by engineers from major corporations such as Samsung Heavy Industries constitute a powerful barrier to entry that latecomers cannot easily catch up with in a short period. Furthermore, since WithPoints' solutions possess versatility that can be utilized across various robot manufacturer brands, they are expected to expand into diverse industrial sectors considering the introduction of smart factories."
In fact, as efforts to reduce manufacturing costs due to labor shortages caused by population decline and rising labor costs have intensified, WithPoints' role is expected to become even more important. Investors evaluated that WithPoints' solutions possess the character of a 'game changer' capable of solving problems in the manufacturing industry and accelerating full unmanned operation in smart factories.
WithPoints plans to focus on upgrading the Winet solution, launching new solutions such as assembly and disassembly, and expanding global partnerships based on this investment.
Jo Dong-kyun, CEO of WithPoints, stated, "Robot automation demand is surging regardless of country or industry. We will strengthen our position in the global automation market by enhancing technical maturity and on-site applicability."
[MoneyToday startup media platform Unicorn Factory]
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