There seems to be an undeniable connection between FinTech and robotics, and it is only a matter of time until both industries collide.
When thinking of the robotics concept, it is important to take its wide scope into consideration. So many different aspects of our everyday lives can be influenced and improved upon by robotics, and Singapore startup CtrlWorks is looking to bring exactly that to mainstream consumers.
The product created by CtrlWorks serves as an add-on kit to transforms any wheel-based form of transportation into an autonomously guided vehicle. Similar to how GPS systems work, the add-on kit from CtrlWorks takes in navigation information from its sensors, and processes that data – through cloud-based software – into something that can be used for autonomous purposes.
Unlike what competitors in the field of robotics are bringing to the market, CtrlWorks is taking an entirely different approach.
The company product – called AXON – is tailored specifically to avoid obstacles when navigating automatically. At the same time, this product can autodock and charge, and runs on a low-powered onboard CPU to work its magic.
Because CtrlWorks uses a cloud-based software solution, there is no need for customers to set up any additional infrastructure. In fact, the software can be managed through a Web UI, and even supports remote management when needed. All of this combined into an affordable package, both on the hardware and software side.
As is the case with any company tackling the robotics space, the biggest challenge is to overcome the reliability hurdle.
A product will stand or fall based on how the complete package works. If both the unit and the cloud-based software work as a tandem, CtrlWorks could very well crack the code to bring robotics into the everyday lives of people relying on wheelchairs or push- carts to go about their daily operations.
Earlier in 2016, CtrlWorks announced the completion of a seed funding round worth S$1.3m. That was not the only positive news for CtrlWorks this year, however, as they have received interest from various trade partners. In addition, the company revealed they serve a number of clients in both the local and overseas markets.
Image courtesy of CtrlWorks
