Mishcon de Reya acted for Perceptual Robotics Limited on its Series A Investment and the roll out of its AI powered solution to customers across the renewables industry. In this client spotlight, we find out more about Perceptual Robotics and its plans for the future.
What is Perceptual Robotics?
Perceptual Robotics is a high-tech maintenance solution provider which employs AI-enabled robotics across the renewables industry. It removes some of the dangerous tasks engineers once faced, by providing a solution for autonomous wind turbine inspections utilising artificial intelligence and drones.
Its intelligent inspection solution evaluates risks and raises an alert if an intervention is required. Everything is accessed on a custom tablet application which provides a comprehensive overview of the inspection. Upon landing, all data is collected ready for on-site review.
Perceptual Robotics' automated AI detection systems automatically annotate images, identifying findings. Its AI systems have been benchmarked against top blade experts and its machine learning detections outperform them. As a result, machine learning systems can annotate hundreds of images in an hour which allows customers to make faster and more precise decisions.
"Creating cutting edge engineering drones to deliver safe and seamless inspection processes" – Perceptual Robotics mission statement
Helping Perceptual Robotics scale up
Mishcon de Reya supported Perceptual Robotics on its recent Series A financing which was led by OnePlanetCapital.
The team previously acted for Perceptual Robotics on its seed investment round and various bridging rounds, whilst also working with the founders on their licensing and roll out of the solution to customers in the renewables energy sector.
Perceptual Robotics also had further support from existing investors TSP Ventures, Brookstreet Equity Partners, Deeptech Labs and Metavallon VC, along with other key angel investors, resulting in a total of £3.6 million in Series A financing.
What does the future hold for Perceptual Robotics?
In the immediate term, Perceptual Robotics will use the pre-Series A round to plan its expansion into North America and Latin America. It is aiming to double its team so it can continue to evolve, offering its technology and services globally.
As a general aim, Perceptual Robotics is seeking to make the green energy space more cost effective. Its management team has calculated that its technology will reduce the cost of wind turbine blade maintenance by 30% and believe it could be utilised across other industries in future.
What they said
Kostas Karachalios, one of the Co-Founders at Perceptual Robotics, commented: "Mishcon de Reya grasps the dynamics of start-ups and the evolving landscape. Their consistent support is key to our growth."
What we said
Technology Partner Ashley Williams: "Being able to help clients bring to market cutting edge AI and machine learning technology addresses a real need within the renewables energy sector and aligns perfectly with our goal in Mishcon Future, to shape a better world through innovation and create value for our clients and society."
Contact Mishcon de Reya
Mishcon de Reya's Technology team has extensive experience advising on the exploitation of emerging tech in sectors including AI and deep learning; FinTech and InsureTech; LegalTech; Digital Health; SaaS. To speak to one of our experts, please get in touch.