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Olis Robotics secures $4M in funding for remote robot management
- August 17, 2023
- News Release
- Automation and Software
Olis Robotics, a developer of remote monitoring, control, and error recovery technology for industrial robots, has announced that it has raised $4.1 million funding in a round led by PSL Ventures. Additional investors include Tectonic Ventures, Ubiquity Ventures, as well as several prominent strategic angel investors, including robotics pioneer Daniel Theobald, the President and Cofounder of MassRobotics and Founder and Chairman of Vecna Robotics.
The ‘Olis Connect’ system significantly improves Overall Equipment Effectiveness (OEE), effectively addressing costly robot downtime, according to the company.
“In the midst of a global manufacturing labor crisis, companies are adopting automation in record breaking numbers, resulting in calls from both manufacturers and integrators for robust, safe, and secure remote monitoring, diagnostics, and control solutions,” says T.A. McCann, partner at PSL Ventures, who joins Olis Robotics’ Board of Directors. “Olis Robotics’ unique remote robot control technology answers that call; it can easily be deployed on both brand new and legacy automation, which means a dynamic and exciting market opportunity for investors.”
Olis Connect is controlled directly in a web browser and delivered on an edge-hosted PC that can be quickly connected to both brand new and legacy industrial robot arms and robotic cells. The system works across robot brands, with the company currently providing full support for robots from Universal Robots and FANUC.
With its new funding, Olis is adding support for additional robot brands representing more than half of all industrial robots. The funding will also help expand partnerships with robot system integrators in North America and develop new software products.
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