Hivebotics Pte Ltd (Accelerator)

Company Description: At hivebotics we aim to advance human civilization by eliminating tedious, menial jobs that are undesirable and time consuming. For our beachead, we focus on toilet cleaning, as cleaning companies in Singapore and similar high income cities are operating at just 60% of manpower requirement and struggling to fulfil contracts. This issue is worsening with legal restrictions on foreign labour and declining interest of educated youth to take on cleaning jobs. We have developed an autonomous bathroom cleaning robot that will automate tedious tasks like toilet bowl, urinal, floor and sink cleaning and reduce manpower involvement by 70%. The founding team consists of 2 founders, with mechanical and computer engineering backgrounds from the National University of Singapore. Currently, team has raised SGD 100,000 from the NUS Graduate Research Program Accelerator and has 4 Letters of Interest and commit for purchase for over 37 units of robots from early adopters. Currently, we are raising SGD 1.5 M (USD 1.1 M) dollars for 22 months runway that will achieve first product launch, production and sale of 30 initial units and fund a team of 4 people. This will generate ROI of SGD 450,000 annual recurring revenue based on our current commitment.