PALO ALTO, CA / ACCESSWIRE / January 15, 2021 / InGen Dynamics, a Palo Alto, based Robotics and AI firm, raised a recent round of funding bringing the total funding commitment to $4 Million at the most recent valuation of $45 Million.
With this InGen believes it is on track to hit a $100 Million valuation in 2021.
The round was led by Altrium Capital and continues the fundraising momentum with previous investor rounds closed in 2019. The company will use the funds to continue to expand adoption and to further develop its Dynamic™ platform and products.
InGen Dynamics uses A.I. and Robotics to solve complicated real-world challenges with solutions that are incredibly simple and highly functional. InGen's mission statement, from the very beginning, has been to improve quality of life for humans through Intuitive, Cost-Effective, and Practical ROBOTICS and A.I.
The company and products have been recognized by major associations including IEEE, Disney, Boston Consulting Group, and Robo-Business and featured in major global research reports on security and home robotics. InGen and its products have also featured in Fortune, Forbes, PopSci, IEEE, BCG, Discovery, and Mashable.
The various technologies InGen have developed has been referenced and studied by prestigious universities since inception including M.I.T (USA), University of Pennsylvania ( USA ),University of Washington ( USA), University of Kassel (Germany), University of Plymouth ( UK ), Universitat Politècnica de Valencia ( Spain ) just to name a few.
InGen's initial product was concentrated on the home and social use case. However, InGen has now expanded use cases to domains in Healthcare, Education, and Security.
Led by Arshad Hisham, Founder and CEO, InGen Dynamics is the creator of Aido Home Robot built on the Dynamic™ platform. Arshad is a serial entrepreneur, engineer, inventor, and the chief designer. He is also a frequent speaker on the Robotics most recently as a keynote speaker at the annual IEEE Robotics Symposium (Columbia University), Boston Consulting Group's annual AI ( Chicago) machine learning event, City of Tomorrow Summit ( New York ) as well as at the industry leading Robo-Business ( San Jose) event among others.
Dynamix™ is a set of reusable Robotics components, Hardware interfaces, Deep learning modules, Machine learning modules and Robotics Software developed to cater to the most promising use cases in Robotics and A.I. in the market.
Speaking on the development Co-Founder and CFO Jawad Farooq through whom the round was closed mentioned "We could see a big ambition and potential to grow the business and believe InGen is primed to raise necessary funding to fuel its future growth. By working with Altrium Capital we've been able to complete an important milestone and Company is looking forward to an exciting year ahead"
Furthermore, Founder and CEO, Arshad Hisham mentioned "After observing the evolution of Robotics and A.I. products in the sector, we decided that now was the right time to develop a new range of products and services in order to respond better to the industry needs and together with the follow-on growth trajectory, there's a positive outlook for the next year ahead and it's been a great start to 2021 for the company."
About InGen Dynamics
InGen Dynamics is a robotics company dedicated to changing the world's perception about how intelligent machines can be and how they should be applied. We believe that people will only embrace technology when we have something to offer that helps them in their quality of life. We are passionate about bringing together cutting edge technology with everyday life. We bridge the gap between science fiction and reality to offer specific, tangible solutions that solve real problems and enhance your lifestyle.
Media contact
Company: InGen Dynamics
Contact: Arshad Hisham
E-mail: [email protected]
Phone: 001 650 353 5782
Address: 2345 Yale St, Palo Alto, CA 94306, USA
Website: http://www.getaido.com/
SOURCE: InGen Dynamics