By: Karan Mohla, Sarvesh Agarwal, and Elice Ongko
B Capital is pleased to partner with Singapore-based Eureka Robotics, an automation company specializing in high-accuracy, high-agility (HAHA) robotic solutions. Eureka Robotics develops innovative software and systems that enable robots to execute tasks that require exceptional precision and speed across a variety of industries, including electronics, automotive, aerospace and logistics. Their solutions have been adopted by marquee customers globally and successfully implemented
in a wide range of applications, such as component picking, assembly, inspection and dispensing.
By harnessing these technologies, Eureka Robotics unlocks unprecedented possibilities, allowing robots to adapt to dynamic environments and execute increasingly complex functions with precision. As this technology evolves, we believe it will play a pivotal role in shaping the future of work.
At B Capital, we bring deep expertise in embodied AI and robotics across the US and Asia. Our global perspective, coupled with hands-on experience supporting robotics companies, positions us uniquely to accelerate Eureka’s expansion.
Expanding Opportunities in the Robotics Software Market
The robotics industry stands at the threshold of a transformative era, poised to reshape industrial operations worldwide. As high-precision robotic applications increasingly integrate into daily industrial processes, they’ve become indispensable for driving efficiencies among industrial customers. This shift is creating a robust market opportunity, particularly in specialized software solutions. The US Robot Software market was valued at $4.2B in 2023 and is projected to reach $16.6B in 2030 (~21% CAGR).
U.S. Robot Software Market Revenue, 2023-2030 (Billion USD)
Source: Next Move Strategy Consulting
The APAC Robot Software market was $2.2B in 2023, and is projected to reach $11.9B
by 2030 (26% CAGR).
Asia-Pacific Robot Software Market Revenue, 2023-2030 (Billion USD)
Source: Next Move Strategy Consulting
While many robotics companies have traditionally pursued vertical integration, offering both hardware and software, the landscape is evolving. The growing complexity of modern assembly-line processes has sparked a significant demand for specialized software solutions, independent of hardware. This trend is opening new avenues for innovation and market entry, particularly for companies focused on developing advanced robotics software.
Eureka Robotics: Automating Tomorrow’s Challenges Today
Eureka Robotics is at the cutting edge of the transformative robotics industry, tackling pressing global challenges head-on. The company’s innovative solutions are designed to address critical issues such as labor shortages and supply chain disruptions, while simultaneously boosting productivity and driving economic growth. By automating repetitive and hazardous tasks, Eureka Robotics is not only enhancing workplace safety but also contributing to increased efficiency across various sectors.
Eureka Robotics has demonstrated remarkable adaptability in its product offerings. Initially, the company focused on providing Full Systems, a comprehensive package that included hardware, software and manpower directly to industrial end-users. In a strategic move to expand its market reach, Eureka subsequently added a software-only product. This versatile solution can be integrated with various hardware and camera systems, significantly broadening the company’s potential customer base.
This pivotal shift in strategy has positioned Eureka Robotics to serve a wider array of industries with customizable and flexible solutions. By leveraging their expertise in both hardware and software, the company is well-equipped to capitalize on the growing global demand for advanced automation solutions, cementing its place as a leader in the rapidly evolving robotics industry.
Eureka Robotics has successfully partnered with renowned global brands such as Pratt & Whitney and Shotoku to implement automated solutions across their manufacturing and logistics operations. For Pratt & Whitney, Eureka automated the inspection and sorting of engine blades, tasks previously performed manually saving significant labor cost. Similarly, Eureka assisted Shotoku with implementing automated inspection for their lithography machines checking for defects like scratches, foreign particles and watermarks. These partnerships have allowed Eureka Robotics to showcase the scalability and adaptability of their technology, further solidifying their position as a leading player in the robotics industry.
Behind the Machine: Eureka’s Leadership Team
Eureka Robotics was co-founded by Pham Quang Cuong and Dr. Hung Pham, two accomplished PhD graduates with extensive experience in robotics and automation. Dr. Nguyen previously held prestigious positions as a Japan Society for Promotion of Science Fellow at the University of Tokyo and a faculty member at Nanyang Technological University’s School of Engineering. Dr. Pham, a skilled mechanical engineer and Physics Olympiad participant, brings a strong foundation in engineering principles to the team. The company’s management team is further complemented by a seasoned sales team with relevant experience from industry leaders such as GreyOrange, Panasonic and Hitachi.
Their leadership underscores our confidence in Eureka Robotics’ ability to drive long-term value and continue leading in this transformative space.
LEGAL DISCLAIMER
All information is as of 12.23.2024 and subject to change. Certain statements reflected herein reflect the subjective opinions and views of B Capital personnel. Such statements cannot be independently verified and are subject to change. The investment discussed herein is a portfolio company of B Capital; however, such investment does not represent all B Capital investments. It should not be assumed that any investments or companies identified and discussed herein were or will be profitable. Past performance is not indicative of future results. The information herein does not constitute or form part of an offer to issue or sell, or a solicitation of an offer to subscribe or buy, any securities or other financial instruments, nor does it constitute a financial promotion, investment advice or an inducement or incitement to participate in any product, offering or investment. Much of the relevant information is derived directly from various sources which B Capital believes to be reliable, but without independent verification. This information is provided for reference only and the companies described herein may not be representative of all relevant companies or B Capital investments. You should not rely upon this information to form the definitive basis for any decision, contract, commitment or action.