MMC Ventures backs SLAMcore in $5 million seed funding

We are pleased to announce the newest addition to the MMC portfolio, SLAMcore, a UK-based business developing spatial artificial intelligence (AI) algorithms for robots and drones.

Today, SLAMcore announced that it has raised $5m in funding led by Amadeus Capital Partners with participation from MMC Ventures and Octopus Ventures. Existing investors Mirai Creation Fund and Toyota AI Ventures also invested.   

To be truly useful, robots and drones require spatial intelligence, including the ability to accurately calculate their position, understand unfamiliar surroundings, and navigate with consistent reliability. The fundamental algorithms that achieve this spatial awareness are often referred to as Simultaneous Localisation and Mapping (SLAM). SLAMcore offers spatial AI solutions designed to easily integrate into existing platforms, allowing robotics companies to concentrate on delivering value to the end customer.

Owen Nicholson, SLAMcore CEO and co-founder, said,

“Our initial product will calculate an accurate and reliable position, without the need for GPS or any other external infrastructure, but that is just the start. With this funding, we will also develop detailed mapping solutions capable of creating geometrically-accurate reconstructions of a robot’s surroundings in real-time, and understanding the objects within, utilising the latest development in Machine Learning.”

“It is a really exciting time for robotics,” said SLAMcore co-founder Dr Stefan Leutenegger.

“We are seeing a convergence of geometric computer vision algorithms, availability of high-performance computational hardware, and Deep Learning. We are embracing this new world and will move quickly towards offering solutions for robots requiring an advanced level of understanding of their environment”

Read more via The Telegraph

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