Wootzano, a tech firm in the northeast pf the UK that makes ‘electronic skin’ for robots, has sealed a six figure funding package to protect the business through the Coronavirus Business Interruption Loan Scheme. The company has tapped into the funding from HSBC UK through the Government scheme, enabling the company to protect jobs, support cash flow and continue manufacturing during the coronavirus crisis.
Wootzano, based at the Centre for Process Innovation (CPI) in Sedgefield, County Durham, makes ‘electronic skin’ for robots, called ‘Wootzkin’, which can sense and feel like human skin. The invention allows robots to perform skillful jobs easily, such as picking up delicate objects like fresh produce with ease.
The funding has helped support the company’s cashflow, enabled all staff to keep working throughout the Covid-19 pandemic and allowed Wootzano engineers to continue manufacturing the sensors to meet customer demand.
Business-live.co.uk reports that, with the funding in place, Wootzano is now planning for an increase in production and revenue as the business grows.