Robotics Start-Up Otsaw Opens S$2 Million Global HQ and Guns for Nasdaq Listing in 2023
Otsaw Digital, a technology innovator in robotic technologies and cutting-edge artificial intelligence, has unveiled its global headquarters at JTC Space @ Tampines North. At the opening ceremony, guest of honour, Singapore Deputy Prime Minister Heng Swee Keat, reiterated Otsaw’s vision and highlighted that in Singapore alone, the density of robots has shown significant growth of over 25 per cent per year since 2015.
The S$2 million headquarters occupies two levels and spreads across 20,000 square feet, allowing Otsaw to increase its production capacity to 100 robots monthly, five times more than its current capacity of 20.
The home-grown start-up also announced plans to list on Nasdaq as early as the first quarter of 2023. “When I started seven years ago, I never thought I could take the company this far and this big,” said founder and CEO Ling Ting Ming.
Otsaw aims to raise between US$50 million and US$80 million from the listing. The IPO announcement comes at a time when the company is looking to expand operations and mass produce its robots. Aside from deploying upwards of 1,000 new robots worldwide by 2024, the start-up will be doubling its staff strength from 60 to over 100.
Otsaw provides smart solutions to help businesses boost productivity, reduce their reliance on manpower and increase automation in the realms of security, delivery and cleaning through AI-enabled technology solutions. The core technology does not focus on replacing humans, but helps to mitigate manpower shortages and rising wages. LogisticsIQ, a market research firm, projected the market for autonomous mobility robots and automated guided vehicles to reach US$18 billion by 2027.
With autonomous robotic solutions, companies can prioritise manpower needs in other areas. For instance, Otsaw’s O-R3, a security robot, has a physical presence and provides 24-hour surveillance through 360-degree video recording. Since its deployment to patrol the premises of the Science Park and CINTECH II, the robot has provided optimal crime prevention with the use of video analytics to detect anomalous inconsistencies.
Given the surge in sanitation technology following the pandemic, Otsaw has three cleaning robots, O-RX, TREx and AirGuard which provide extensive autonomous disinfection. They utilise cutting-edge UV-C LED technology made from non-hazardous materials and free from the highly toxic chemical, mercury. Currently, O-RX is deployed in Wisma Atria and boasts 99.9 per cent efficacy and no chemical residue. It disinfects four storeys of retail space autonomously saving significant manpower for the establishment.
To tackle logistics challenges, Camello, a last-mile delivery robot, was developed with a 100-litre compartment volume to carry up to 20 kilograms. It is equipped with UV-C LED to prevent cross-contamination between different users. Similarly, to help hospitals around the world improve efficiency and productivity, Transcar, an automated guided vehicle, is currently being deployed in over 41 hospitals around the world including eight hospitals in Singapore. At the Outram Community Hospital, it delivers food and bed linens up to three times daily and carries out the work of two full-time staff.
Down the line, Otsaw is looking to develop a black box for autonomous mobility called Odyssey, which will lower the skill barrier of entry for robotics development to allow the talent pool to grow, enabling the next generation of robotics and AI developers. This will put Otsaw and Singapore on the map for technological advancements and artificial intelligence development.