In doing this, CtrlWorks has become the first ever Singaporean startup to be accepted by a Techstars programme, one of the worlds most exclusive seed accelerator programmes.
CtrlWorks is best known for its flagship product Axon.
Axon is an autonomous guided vehicle (AGV) solution running on CtrlWorks’ proprietary CloudNav system. According to the company, it is capable of providing AGV capabilities to customers’ existing industrial platforms. It is currently serving local and international clients in fields such as logistics and manufacturing.
Techstars’ Qualcomm Robotics Accelarator
Here are some interesting facts about the accelerator… Only one per cent of all startups that apply are accepted into the Techstars programme and the 526 companies that have been so far accepted into the programme since its inception have raised a total of US$1.3 billion in cumulative investments.
As part of the admission, both Qualcomm Ventures and Techstars will also be making an investment in CtrlWorks, with the company announcing that it has raised US$960K earlier today.
The programme runs from May 26, 2015 to Sep 10, 2015, at the end of which graduating companies will make presentations before a series of investors for possible follow-on investment. The company is one of 10 participating in the programme.