Singaporean robotics firm Ross Digital has secured SGD $4.2 million (approx. $3 million) in a Series A funding round led by food conglomerate Fraser and Neave.
The funding round included participation from existing investors Frasers Property and zVentures, the corporate venture arm of Razer.
Ross will use the capital to accelerate the development of new products and to expand into Thailand and Malaysia. The company is also partnering with Fraser and Neave to distribute its range of robotic, automation, digital and AI solutions in Southeast Asia.
Ross, which is a robotics and automation business focused on food and beverage, has already deployed 15 robotic arms in the region, including to Martell Cognac, Timber+, Coffee & Toast and RazerCafe. The company is aiming to install another 40 into the market by the end of the year.
“It is very exciting for us to be able to partner with a food and beverage industry leader like Fraser and Neave who would be able to help build the future of the food and beverage industry within the region,” said Gavin Pathross, Ross founder and CEO. “Through this investment and strategic partnership, we believe that we will be able to leverage off each other’s strengths to deliver phenomenal new market offerings for the more discerning Gen Z consumers.”
Ross has now raised SGD $21.2 million (approx. $15.2 million) since its inception in 2017.
© FoodBev Media Ltd 2022
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