Olis raises $4M for tech that keeps robots on track

Seattle-based Olis Robotics has raised $4.1 million to explore new markets for tools that make it possible to monitor and control industrial robots remotely and securely.

The funding round was led by PSL Ventures, Olis Robotics said today in a news release. Additional backing came from Tectonic VenturesUbiquity Ventures and several strategic angel investors — including Daniel Theobald, a pioneer in the field who played key roles in founding MassRobotics and Vecna Robotics.

Olis’ flagship product, Olis Connect, helps operators monitor and manage their machines remotely from anywhere via any browser-capable device. If a robot encounters a problem, Olis Connect sends out an alert via a secure connection to the operator’s device without connecting to the cloud — which is an added safeguard in environments where cybersecurity is a concern. Operators can then use the system remotely to execute error recovery actions, such as releasing the robot’s grip on a part, or moving the robot from its error position.

“Robot downtime can cost a large plant over $1 million per hour. When every minute counts, you need to leverage remote tools to react as quickly as possible no matter where you are,” Olis Robotics CEO Fredrik Ryden explained. “Our technology is ingeniously simple to use and intensely practical in terms of its impact.”

By Alan Boyle

Mastermind of Cosmic Log, contributor to GeekWire and Universe Today, author of "The Case for Pluto: How a Little Planet Made a Big Difference," past president of the Council for the Advancement of Science Writing.

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