Swiss-Mile, a pioneering company connecting AI with the physical world using autonomous machines, announced today the successful closure of over €19.8 million seed funding round. This round was notably co-led by Jeff Bezos, through Bezos Expeditions, and HongShan, with additional participation from the Amazon Industrial Innovation Fund and Armada Investment. The round also saw continued support from existing investor Linear Capital, underscoring the strong belief in Swiss-Mile’s vision and potential.
Founded in April 2023, Swiss-Mile was established with a bold mission: to free humanity from laborious and repetitive tasks by bridging the gap between artificial intelligence and the physical world. The company’s primary focus is on developing truly autonomous robots that can perform complex tasks in dynamic environments. By assembling a team of world-class experts in embodied AI and robotics, Swiss-Mile has quickly made a name for itself in tackling some of the most challenging aspects of mobility, autonomy, and manipulation.
In just its first year, Swiss-Mile has achieved significant milestones, including pilot deployments with key customers in areas such as last-mile delivery in smart cities and security for critical infrastructure. These customers have experienced firsthand the capabilities of Swiss-Mile’s innovative wheeled-legged robots, which are powered by advanced neural networks. The robots’ ability to navigate and perform tasks autonomously has set a new standard in the industry, drawing significant attention from both media and industry leaders.
Investor confidence and Industry leadership
“Swiss-Mile, utilizing their cutting-edge algorithms and deep research expertise, has developed a product that stands out in this industry,” said Caroline Fu, a partner at HongShan. “We are thrilled to observe the technological advancements the company has achieved, and are confident it will play a leading role in transforming the embodied intelligence industry.”
Swiss-Mile is a spin-off from the renowned Robotic Systems Lab at ETH Zurich and has been at the forefront of integrating artificial neural networks into robots with both legs and wheels. The company’s technology allows robots to walk, drive, stand upright on two legs, and manipulate objects with wheeled end effectors. This versatility is key to addressing real-world challenges in both mobility and manipulation, positioning Swiss-Mile as a leader in the next wave of robotic automation.
The company’s embodied AI has already garnered significant media attention, with a notable showcase at the GTC 2022 keynote by NVIDIA CEO Jensen Huang. Beyond its scientific contributions, Swiss-Mile has demonstrated the practical applications of its technology, having been part of the winning team in the DARPA Subterranean Challenge—an event the Washington Post referred to as “The Super Bowl of Robotics.”
“Swiss-Mile stands out as one of the leading embodied AI companies globally, founded by pioneers who initiated this trend,” said Harry Wang, founder and CEO of Linear Capital. “Their international and customer-centric mindset from the very beginning will enable them to leverage global resources, making Swiss-Mile a leading power in the next wave of the physical AI revolution.”
A unified approach to robotic intelligence
Swiss-Mile’s approach to robotics is driven by a unified framework that integrates reinforcement and supervised learning, allowing robots to autonomously learn and adapt to real-world deployments. This enables the generation and scaling of novel robotic behaviors, which are continually refined through data collected from both real-world and synthetic scenarios. The versatility of Swiss-Mile’s AI framework means it can be applied to various robotic platforms, independent of their specific design or embodiment.
The company has already demonstrated this adaptability by successfully training a new neural network for different robotic hardware in just one week, showcasing the potential for rapid innovation and deployment.
Customer-centric business model
Swiss-Mile combines its technical excellence with a strong focus on customer needs and a drive to scale effectively. The company has already initiated pilot programs with beta clients worldwide, rigorously testing its embodied AI in diverse real-world settings. Within just a month of its inception, Swiss-Mile deployed its first robot for last-mile delivery, and since then, it has expanded its reach into sectors like monitoring and logistics.
The technology developed by Swiss-Mile is set to play a crucial role in addressing the growing global challenge of labor shortages, which could impose a $10 trillion economic burden on nations struggling with workforce deficits. By unlocking new use cases for mobile robots in dynamic environments, Swiss-Mile is transforming how industries operate, offering critical solutions to mitigate worker shortages.
“The Swiss-Mile team is building innovative, real-world-oriented solutions using embodied AI and robotics, bringing their expertise to various industries,” said Franziska Bossart, Head of the Amazon Industrial Innovation Fund. “We at the Industrial Innovation Fund are delighted to support their team, recognizing the potential these technologies hold for Amazon.”
Daniel S. Aegerter, founder and CEO of Armada Investment, added, “Artificial intelligence combined with low-cost, high-performance hardware will unlock an abundance of productive use cases for autonomous robots, heralding a new era of economic activity. The Swiss-Mile team are true pioneers in this emerging segment, possessing the talent, ambition, and audacity to build a category-defining company. Alongside their extraordinary technical track record, the team is relentless in their pursuit of customer value. This culture will differentiate Swiss-Mile in the long run.”
Read the orginal article: https://www.eu-startups.com/2024/08/zurich-based-swiss-mile-secures-over-e19-8-million-in-seed-funding-co-led-by-jeff-bezos-and-hongshan/
