The company believes that the current market, which is expected to grow to between $9.12 billion and $17.9 billion by 2028, is ripe for disruption as existing products are not as advanced as they could be. Matic's approach focuses on solving the simultaneous localization and mapping (SLAM) and perception problems, which it sees as the main bottlenecks in the development of fully autonomous indoor robots. The company has written its own code to push beyond the current state of the art, aiming to provide a precise, private, and affordable solution.
Key takeaways:
- Matic, a new entrant in the robotic vacuum cleaner market, has emerged from stealth with nearly $30 million in funding. The company's product, a combination robot vacuum cleaner/mop, is available for pre-order in the U.S. for $1,495.
- Matic's CEO, Mehul Nariyawala, believes the current technology in robotic vacuum cleaners is not as advanced as it should be and sees room for disruption. He criticizes existing products for their lack of precise navigation and understanding of their environment.
- Matic's approach to solving these issues is through an "algorithmics-first" approach, focusing on simultaneous localization and mapping (SLAM) and perception. The company's robot uses five RGB cameras and software to build a mental map of its environment, learning and improving its navigation over time.
- Nariyawala believes the key to successful home robotics is affordability, precision, privacy, and comfort. He suggests that the future of home robots may be more akin to friendly, cuddly forms rather than intimidating humanoids.