Haber bags $20 Mn in Series B Funding

Haber has raised $20 Mn in a Series B funding round led by Ascent Capital. Accel, Elevation Capital, Beenext, Mukul Chawla (Temasek Partner) and the founders of GreyOrange(another robot-as-a-service company), Samay Kohli and Akash Gupta also participated in the round.

Vipin Raghavan, Priya Venkat and Arjunan PN founded Pune-based Haber in 2017 and develops AI-driven industrial robots which automate the manual process of sample collection, measurement, analysis, and intervention at factories.

Vipin Raghavan, Founder and CEO of Haber, said, “With a deep understanding of AI and the functioning of industries, Haber has been able to put together a solution that automates the entire process. Our flagship product, eLIXA, was launched in 2017 which enables our customers to meet their sustainability and profitability goals. Testing and taking corrective actions, which earlier used to take hours, has now been reduced to a few minutes with a significant increase in accuracy.”

The global AI-powered robots market is projected to grow from $6.9 Bn in 2021 to $35.3 Bn by 2026, at a CAGR of 38.6%.

Over the last decade, the online retailing and shipping industry has been constantly automating many of their previously labour-intensive processes. In 2012, Amazon acquired Kiva Systems, a Massachusetts-based robotics company that produces autonomous mobile robots (AMRs). Amazon uses these AMRs in some of its warehouse facilities for many tasks.

The reason that the industrial adoption of AI-powered robots began with AMRs is that they represent one of the easiest problems for robots to solve-moving from one point to another. As robotics technology evolves, robots capable of more complex activities will become more commonplace in industries.