A spin-out from Nanyang Technology University in Singapore, Handplus Robotics has an established distribution network within Singapore and Malaysia, which Flexiv hopes to leverage to expand its customer base. The company specializes in robotic pick and place applications for logistics, e-commerce fulfilment, warehousing, medical services and healthcare industries.
“This partnership with Handplus will enable more end-users to take advantage of the opportunities afforded by adaptive robotic technology,” Owen Wu, Flexiv’s Senior Sales Manager for the Asia Pacific region, said in a release. “We have seen substantial growth over the past two years, and this strategic partnership with Handplus will enable us to expand our market presence without compromising the service we provide to our clients. Working together, Flexiv and Handplus will enable customized smart solutions to be created, which will reduce the effects of labour bottlenecks and decrease the ROI period.”
Flexiv has been working to grow its distribution network over the last two years. For example, in November 2022, the company partnered with Sycodal, its first Canadian distributor. Sycodal has sole integrator rights for Flexiv robots for the entirety of Quebec as part of the distribution agreement.
In July 2022, Flexiv announced it closed a Series B+ funding round with an investment of nearly $100 million. According to the company, the latest investment makes the company a unicorn startup.
Flexiv spun out of Stanford University in 2016. It was founded by Shiquan Wang, now the CEO, Xiyang Yeh, now the CTO, and Shuyun Chung, now the chief robotics scientist. In 2020, Flexiv brought in over $100 million in a Series B round of funding, and it brought in $22 million in Series A funding in 2019.
Flexiv launched its Rizon adaptive robot in April 2019, and today it offers three different Rizon models, the original Rizon 4, the Rizon 4s and the Rizon 10. The core features of these adaptive robots include high-precision and fast-response force-controlled technology throughout the arm.