Columbus-based robotics component manufacturer, Circular Wave Drive, is disrupting the industry
Circular Wave Drive, a Columbus-based robotics components manufacturer, thinks it might have an industry disrupter on its hands. As a result, CWD plans a $6 million to $10 million fundraising round in the first quarter this year led by Ikove Capital.
CWD creates speed reducers, a critical component of any robot that moves. Speed reducers can comprise some 40 percent of the lifetime cost of industrial robots.
Stay up to date with Columbus’ dynamic business scene:Subscribe to CEO's weekly newsletter, Insider
Right now, says Flavio Lobato, CEO and founder of CWD, robotics users must choose between a high-torque, low-precision, short-lived version of the part, or a lower torque and longer-lasting part. CWD’s new V6 speed reducer, he says, promises the best of both worlds—super high precision and industry-leading torque.
Applications range from manufacturing robots to even automated wheelchairs. Lobato says CWD already has a manufacturing and distribution supply chain in place and relationships with leading robotics makers globally.
“The speed reducer market is ripe for disruption. It’s a global duopoly with dated technology and high margins controls around $1 billion in annual revenues and close to $7 billion in market cap,” Lobato says in a recent press release. “CWD will have a very unique offering in an industry aching for innovation and significant unmet needs.”
Cynthia Bent Findlay is a freelance writer.