Coimbatore-based Goat Robotics Secures ₹2.66 Crore for Expansion and R&D

Robotics startup Goat Robotics, based in Coimbatore, raised ₹2.66 crore in its latest round of funding. Campus Angels Network led the investment with a commitment of ₹1.09 crore, followed by Native Lead Angels (₹59.5 lakhs), Pontaq Ventures (₹24.98 lakhs), TiE Coimbatore (₹49.85 lakh) and other investors (₹22.95 lakh).

The company, incubated at Forge Ventures and the PSG-Science & Technology Entrepreneurial Park (PSG STEP), designs and manufactures heavy-duty robots for material handling in a wide range of industries. Weighing around 660 kg, these robots have a carrying capacity of 2,000 kg. Their customer sectors include automobile manufacturing, furniture production, customized pump manufacturing, and fast-moving consumer goods (FMCG).

“There is a rental model that we’re introducing, which has always been special to us in terms of reducing barriers for customers and suggesting a roadmap where we can see accelerated robot deployment, particularly in cost-sensitive markets,” Goat Robotics co-founder and COO Mugesh S. This will enable a wider range of industries to be automated, scaling up the usage of robots.

The funding will allow Goat Robotics to expand GT-Studio, a new ecosystem. To contribute to the development of a PoC system that would connect current factory machines (like PLC, CNC, ERP, etc) such that real-time decisions and more efficient collaboration of human robots and others would happen on it.

“We will keep investing in R&D to enhance our GT-series robots, with an emphasis on increasing payload capacity, intelligence, and modularity,” Mugesh mentioned.

Chandran Krishnan, CEO of Campus Angels Network, noted that Goat Robotics could be transformative, adding, “With their focus on innovative intelligent automation solutions, their vision aligns with the Campus Angels Network vision of building and supporting high-impact technology startups. These innovations might transform industrial processes, improving their efficiency and cost-effectiveness.”

This funding represents a key moment in Goat Robotics’ vision to revolutionize automation through intelligent robotics, enabling the company to accelerate its growth and technological innovations in the industrial sector.