Extend Robotics has successfully raised £2.6 million in pre-Series A funding to advance its Result-as-a-Service model, enabling manufacturers to pay for robotic work completed rather than purchasing robots outright.
This funding, led by Skyworks Venture Capital Fund with participation from Neo Venture Europe and Zip Capital, will facilitate the company's expansion across the U.K. and Europe, as well as the development of a distributed remote-operator network. Extend's AMAS platform integrates immersive teleoperation with AI assistance, currently serving 35 subscription customers across various sectors including agriculture and manufacturing.
Looking ahead, Extend Robotics aims to leverage its funding to enhance its service offerings and expand its customer base. The company is focused on addressing manufacturing challenges that are difficult to automate with traditional systems, particularly in high-mix production and hazardous environments. No further timeline was disclosed at the time of publication.
Editor's Note
The robotics industry is witnessing a shift towards service-based models, as exemplified by Extend Robotics' innovative Result-as-a-Service approach. This model not only mitigates financial risks for manufacturers but also aligns with the growing demand for flexible automation solutions in diverse sectors. As companies increasingly seek to integrate robotics without the burden of upfront costs, this trend may reshape procurement strategies and investment priorities in the industry.
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