Swedish Alumni scaleup of the EIT Digital Accelerator, Furhat Robotics, developer of socially intelligent" machines with human personality, gesture, and intonation, has raised $2.5 million in venture funding from Balderton Capital and LocalGlobe.
With this new investment from these two high-profile European venture capital funds, the start-up will invest in building out the technology and exploring applications in education, therapy, and customer service as well as entertainment.
Furhat Robotics is a spin-off from the Royal Institute of Technology (Sweden). Launched in 2014, the Furhat platform is being adopted by some of the world's most creative companies and labs. The company is currently working with Swedish public services as well as companies like Honda, Intel, Merck, Toyota, and KPMG to develop apps on the platform.
Combining advanced AI and unique robotics technology with a deep understanding of social intelligence and human-computer interaction, the Furhat Robotics team has developed a social robot with unique expressiveness and a powerful conversational platform that has received high profile awards in Sweden and has been recognised by the Silicon Valley Forum. In Sweden, Furhat Robotics has already worked closely with partners to develop verticals for social robotics in education, elderly health care, public spaces and cognitive therapy.
Daniel Michel, Head of Access to Finance at EIT Digital Accelerator declares: "Furhat Robotics is a splendid digital company, revolutionising the way people will interact with computers and any electronic equipment. EIT Digital was excited about their innovative technology from the first meeting with the company, and we had pleasure supporting their team in their international fundraising".
Samer Al Moubayed, CEO of Furhat Robotics said: "The new funding will contribute to cementing Furhat's world leading position in conversational AI and social robotics. We are looking forward to work closely with some of Europe's premier venture capital firms to take Furhat globally. When we were part of the EIT Digital Accelerator the teams played an important role in helping us to access the European venture capital ecosystem."