The race to develop humanoid robots powered by artificial intelligence is heating up, with companies like Figure, Sanctuary, and 1X securing large investments from tech sector giants. Among these competitors is Mimic, a Swiss start-up that has just announced a $2.5 million fund raise. Despite flying under the radar compared to its well-known counterparts, Mimic was founded by a team of researchers from ETH Zurich University and is focused on leveraging generative AI to create robots that can learn and adapt to different tasks.
While robots have been used in various industries for decades, the focus now is on creating robots that can perform multiple tasks like humans. Mimic’s approach is to develop a robotic hand with a high level of dexterity that can understand and carry out instructions through verbal commands or visual demonstrations. This technology, which was once considered science fiction, is now quickly becoming a reality. Although Mimic is still in the training phase for its robotic hand, the company has already demonstrated its potential in pilot projects.
The potential applications for Mimic’s technology are vast, particularly in industries facing labor shortages and seeking automation solutions. One major opportunity is in the food service industry, where robots could be used to prepare food and beverages. Sorting tasks in various industries, such as pharmaceuticals, could also be automated with Mimic’s technology. The scalability of the robots is a key benefit for industrial clients, as once trained, multiple robots can be deployed to perform the same task at different locations without the need for additional training.
Mimic’s founders are optimistic about the company’s prospects in the market, citing their focus on collaboration with industry clients and specialization in manipulation and hands. The company aims to position itself as a European leader in the AI-driven robot industry, which is currently dominated by US-based companies. Investors have shown confidence in Mimic’s potential, with a $2.5 million funding round led by Swiss investor Founderful and participation from other venture capital firms and angel investors. The funds raised will be used to further develop the team, expand testing capabilities, and cover computing costs.
According to analysts, the market for humanoid robots is expected to grow exponentially, with a projected worth of $38 billion by 2035, six times higher than previous estimates. The rapid progress in AI technologies is a driving factor behind this growth, making the development of robots with advanced capabilities more feasible. Mimic’s focus on practical applications and collaboration with industry clients sets it apart from its competitors, positioning the company for success in the evolving AI-driven robotics market. With the backing of investors and a strong team of founders, Mimic is poised to make an impact in the global robotics industry.
