# Riibotics

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/riibotics

- Industry: Electronics
- Headquarters: Siheung-si, South Korea
- Website: www.tim-robotics.com
- Latest round: Seed (Oct 17, 2024)
- Investors on record: 2

## About

Based in Gyeonggi-do, South Korea, founded in 2024, Tim Robotics Co., Ltd., a.k.a. TIM Robotics, operates as a company that focuses on creating autonomous navigation software for robots by utilizing SLAM (simultaneous localization and mapping) technology. The company’s products include a self-driving forklift specifically created for existing facilities, often referred to as brownfield environments. In October 2024, TIM Robotics raised seed funding from Mashup Ventures and Seoul Technology Holdings. As of October 2024, Baek Seung-min is the CEO of the company.

TIM Robotics develops solutions for industrial automation, focusing on mobile robots and autonomous forklifts. The company’s software supports 2D/3D SLAM technology, navigation, control, and fleet management, enabling autonomous driving in dynamic environments. The firm’s autonomous forklift targets warehouses and factories, offering features such as pallet hole perception, material pose estimation, and spatial AI for material handling without additional infrastructure. The platform's flexibility allows for human-robot collaboration, adaptive control, and efficient pallet stacking. TIM Robotics' solutions are designed for easy deployment and sustainable operations, incorporating automatic map updates to adjust to environmental changes, suitable for existing facilities not optimized for robots.

The company plans to use its proceeds from October 2024 funding to innovate and develop new products and speed up business growth.

## Funding rounds

- Seed, Oct 17, 2024 — Mashup Ventures, Seoul Technology Holdings

## Investors

- Mashup Ventures (https://capitalatlas.ai/funds/mashup-ventures) — Seed
- Seoul Technology Holdings (https://capitalatlas.ai/funds/seoul-technology-holdings) — Seed