C2RO Raises $1.1 M Seed Financing to Commercialize Cloud Robotics AI SaaS Platform
Montreal-based C2RO Cloud Robotics Inc. today announced that it has concluded a US$1.1 Million seed financing led by Chicago-based Harbor Street Ventures, with the participation of Fonds InnovExport, TandemLaunch Ventures and several angel investors in Canada, the U.S. and Europe. The funds will be used to accelerate the commercialization of C2RO’s powerful enterprise cloud robotics SaaS solutions.
“We recognized early on that C2RO had all the right ingredients to become a disruptor in the Cloud Robotics and A.I. space,” said Steve Komie, Managing Director at Harbor Street Ventures. “With strong proprietary technology and deep technical expertise, C2RO has the potential to revolutionize how robots transform businesses in key sectors of the new A.I. driven economy.”
C2RO’s cloud-based real-time data processing engine significantly augments robots’ cognitive capabilities with a wide range of state-of-the-art A.I. services, while allowing instant knowledge sharing and collaboration among connected robots and sensors.
“We welcome the support of our new and existing shareholders, which will allow us to accelerate our go-to-market plans and help us realize the founding vision of C2RO,” added Riccardo Badalone, President & CEO of C2RO Cloud Robotics. “I’m am incredibly excited about our Engage and Mobility products, which have been identified as the key to unlocking the value of robots in the fastest growing segments of the enterprise market.”
Targeting the fast growing service robotics market estimated to be valued at $ 7 billion by 2022, C2RO’s first product offerings, Mobility and Engage, will allow businesses to use robots and connected peripherals to create new and exciting dimensions of communication and interaction with their customers and employees. This is particularly powerful in the retail, hospitality and customer service industries which are currently undergoing a rapid transformation powered by robots and A.I.
“Advancements in telecommunication, cloud-based computing and artificial intelligence have paved the way for cloud robotics,” said Helge Seetzen, General Partner & CEO of TandemLaunch Ventures. “With the service industry quickly recognizing the potential of robots and artificial intelligence to improve their customer experience and drive efficiencies, we are excited about the commercial potential of C2RO’s technology.”
C2RO’s SaaS platform allows enterprises to quickly deploy and manage their robot platforms in a seamless and intuitive manner, while allowing for sophisticated real-time data analysis and business intelligence formulation.
“We are proud to be supporting such a great Quebec-based artificial intelligence start-up,” said Richard Bordeleau, President at Fonds Innovexport. “As first movers in a fast-growing market, we believe C2RO will have a tremendous impact on the industry and we want to support them through this journey.”
About C2RO Cloud Robotics Inc.
C2RO Cloud Robotics is a Montreal-based high-tech software firm that has introduced the world’s 1st Cloud Robotics SaaS Platform (B2B) that uses cloud-based AI services to augment cognitive and collaborative capabilities of service robots with a simple internet connection. The Mobility and Engage product offerings allow customer service robot platforms to be used for advanced human interaction and behavioral analysis, which can be leveraged by businesses to increase their efficiency or reshape and enhance their customers’ on-site experiences.
About Harbour Street Ventures
Harbor Street Ventures is a Chicago-based venture investment firm. Harbor Street Ventures was founded by Steve Komie and David Shulman, both with deep technology backgrounds in algorithmic trading and artificial intelligence.
About TandemLaunch Ventures
TandemLaunch Ventures is a seed investor and incubator focused on creating early-stage technology start-ups in collaboration with global universities and world-class entrepreneurs.
About Fonds InnovExport
Fonds Innovexport is an early-stage venture capital firm that supports the development of Quebec-based innovators seeking growth in international markets. Based in Quebec City, Innovexport is partnering with twenty-five experienced entrepreneurs, as well as the Government of Quebec represented by Investissement Québec, the Fonds Espace CDPQ de la Caisse de dépôt et placement du Québec, Desjardins – Innovatech, the Fonds de solidarité FTQ, and Fondaction CSN. They all work together to support the establishment of innovative companies with the potential of becoming global leaders.
Alex Gaughan, Marketing Lead
C2RO Cloud Robotics Inc.