German software startup Wandelbots has secured a total investment of €6 million for the development of smart clothing to train robots. The funding has come from a set of investors including Paua Ventures, EQT Ventures, Atlantic Labs, SAP manager Christian Dahlen and entrepreneur Felix Haas. With the funding, the company also aims to widen its team and extending its global reach. Besides, establishing a new office in China is in the pipeline.
Regarding the investment, the partner at Paua Ventures Georg Stockinger said, “At Paua Ventures, we’re proud to back the extremely talented Wandelbots team and provide the resources and guidance for the company’s rapid expansion. Wandelbots will be one of the key companies enabling the mass-adoption of industrial robotics by revolutionising how robots are trained and used. Over the last few years, we’ve seen a steep decline in robotic hardware costs. Now, Wandelbots is resolving the remaining hurdle to disruptive growth in industrial automation – the ease and speed of implementation and teaching. Both factors together will create a perfect storm, driving the next wave of industrial revolution.”