Movel AI Pte Ltd
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Movel AI Pte Ltd - overview
Established
2016
Location
Singapore, -, Singapore
Primary Industry
Software
About
Movel AI Pte Ltd is a Singapore-based company specializing in robotic automation solutions that enhance operational efficiency and reduce labor costs across various industries. Founded in 2016, Movel AI Pte Ltd provides robotic automation solutions that improve operational efficiency. The company is headquartered in Singapore and led by founder and CEO Abhishek Gupta, who has a background in technology startups. Movel AI raised USD 1.
44 mn in Series A funding on April 22, 2020, from investors including 500 Global, Antares Capital, and others. The total amount raised by the company is USD 1. 44 mn, with a current valuation of USD 4. 085 mn.
Movel AI specializes in robotic automation solutions that enhance operational efficiency and reduce labor costs for various industries. Their core offerings include Custom Robotic Automation Solutions, Fleet Management System (FMS 2. 0), and Robotic Navigation System (RNS). These products integrate advanced AI technology with robust hardware to provide tailored automation solutions.
The FMS 2. 0 allows for real-time monitoring and control of entire fleets of robots, while the RNS is designed for precise navigation in complex environments. Movel AI caters to a wide range of sectors, including logistics, manufacturing, and warehousing, with a client base spanning Southeast Asia, Europe, and North America. In 2023, Movel AI reported a revenue of USD 141,038.
50, while the EBITDA for the same year was USD -119,104. 70. The company generates revenue primarily through business-to-business partnerships, where clients subscribe to Movel AI's services to leverage their technology for improved efficiency and cost reduction. Movel AI plans to expand its product offerings with new robotic automation solutions aimed at enhancing performance and efficiency.
The company targets expansion into new markets in Europe and North America by 2024. The recent Series A funding of USD 1. 44 mn will be utilized to support these initiatives, including product development and market entry strategies.
Current Investors
Entrepreneur First, Antares Capital , 500 Global
Primary Industry
Software
Sub Industries
Analytics & Performance Software, Systems Management Software
Website
www.movel.ai
Verticals
Artificial Intelligence, Artificial Intelligence, Research (Non-Medical), Robotics
Company Stage
Series A
Total Amount Raised
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