December 13, 2024

Eureka Robotics- Why We Invested

Robotics is hard. This truth has been shaped by my entrepreneurial journey in the robotics industry.

While the demand for robotics has surged - driven by labor shortages and advancements in artificial intelligence - the integration of robotics into industries has not been as swift as one might hope. At the same time, the deeper I dive into robotics, the more I have marveled at the brilliance of human ingenuity. Humans are flexible, versatile in our tasks, adaptive to the unexpected — and often astonishingly cost-efficient. Yet, it is increasingly clear to me that tasks, which are mundane and repetitive, could benefit from the field of robotics. Technological advances — from network communication to computing power, from software to artificial intelligence — are unlocking opportunities to transform outdated systems, tackling tasks once deemed impossible to delegate from humans to machines. The first generation of robotics addressed repetitive tasks, its precision serving structured workflows like automotive assembly lines; the second generation rose with deep learning, empowering robots to navigate unstructured environments with agility and flexibility. Robots began picking objects, driving autonomous vehicles, cleaning, and even washing dishes - achievements unthinkable just a decade ago. Now, a third generation has emerged, blending accuracy with flexibility at unprecedented levels. This is not about humanoids or bipedal robots with artificial general intelligence, but rather, about the reinvention of what we already have: traditional 6-DOF robots, equipped with robust AI and software, capable of addressing transformative challenges. Conventional hardware can be reborn, its potential unleashed by the synergy of advanced algorithms and control systems. This is why we invested in Eureka Robotics, a company born in Singapore, spun out of Nanyang Technological University (NTU). Eureka is led by Dr. Pham Quang Cuong who founded the company to push the boundaries of robotics innovation. Eureka’s technology excels in achieving micron-level accuracy in order to harness the full potential of hardware. The team’s expertise in calibration, motion planning, and force control has powered tens of millions of operations in real-world commercial environments. Their computer vision technology is equally extraordinary. Their proprietary AI-based stereo vision camera overcomes the limitations of traditional hardware, eliminating the need for projectors in 3D object manipulation. The company has also developed a controller, which customers can utilize to support in designing their solutions. With its powerful UI/UX, Eureka’s technology can be “inside anywhere,” scaling the adaption of technology without limitations. Eureka has also demonstrated remarkable business maturity, forming partnerships with industrial leaders around the globe. Its unique achievements in the aerospace sector are particularly striking. As a VC firm with strong roots in emerging aerospace technology, AV is proud to support Eureka’s successes in the field. By Yuichiro Hikosaka