Robotics startup Softomotive raises $25m
Written by Hannah McGrath
Softomotive, a robotics startup specialising in the automation of business processes has landed $25 million to fund the relocation of its headquarters to the UK as part of its global expansion strategy.
The startup, which was founded in Athens in 2005, develops Robotic Process Automation (RPA) software to automate repetitive tasks.
It has created both ‘attended’ automation tools, which interact with humans, and ‘unattended’, which allow robots to work and learn independently using a range of Artificial Intelligence (AI) and machine learning methods.
Marios Stavropoulos, chief executive and co-founder of Softomotive announced the decision to move the company’s head office to Spitalfields after raising the Series A funding from Grafton Capital, a London-based investment firm.
Stavropoulos said: “With this injection of growth capital and with London as its new base, Softomotive will expand its global footprint and accelerate the development of its product roadmap with a special emphasis on desktop automation and RPA for medium-sized enterprises.”
Oliver Thomas, who led the investment for Grafton Capital and will join Softomotive’s board of directors, said Softomotive had come out top of a lengthy selection process involving a number of leading RPA technology firms in the US, Europe and Asia.