In industrial settings such as factories, autonomous mobile robots are essential for tasks that require quickly identifying structures and navigating to specific locations to perform operations. However, most factories using autonomous robots have either been newly constructed or significantly modified to facilitate easy robot movement, creating environments optimized specifically for robotic operations.

The high costs associated with adapting existing facilities to accommodate robots can deter traditional factories from adopting such technologies, potentially slowing down the automation process. The industry refers to new industrial sites designed from scratch as “Greenfield,” in contrast to “Brownfield,” which denotes older industrial sites. Introducing autonomous robots into Brownfield sites is challenging because these robots must autonomously interpret their surroundings and navigate without human assistance.

Robots must simultaneously perform localization—estimating their position—and mapping—recognizing the three-dimensional structure of their surroundings. This process is known as Simultaneous Localization and Mapping (SLAM). While basic demonstrations of SLAM can now be replicated easily through open-source platforms, implementing this technology in real-world industrial settings requires high levels of precision and stability, demanding considerable technical expertise. Furthermore, deploying autonomous robots in Brownfield environments, which are not initially designed for such technology, often exceeds the capabilities of existing commercial products and open sources. Developing proprietary solutions based on foundational SLAM technology becomes necessary.

TIM Robotics, established in February of this year, is a cutting-edge startup focusing on developing autonomous robot solutions with SLAM as its core technology. By integrating sensors like LiDAR and cameras, TIM Robotics enables robots to recognize and navigate around structures, create spatial maps, and precisely estimate their locations. The company, founded by a team of masters and PhD graduates from Seoul National University and KAIST, led by co-CEOs Jung Jin-yong and Baek Seung-min, aims to address the challenges faced by mobile robots in diverse industrial environments.

TIM Robotics’ website provides detailed information on SLAM technology in a blog format, including the mathematical foundations, formulas necessary for its implementation, and the analytical models adopted to counteract camera distortions. The company clearly demonstrates its confidence in its technological capabilities.

Currently, TIM Robotics is primarily focused on developing autonomous forklift solutions. In Korea alone, there are 300,000 forklifts in operation, and it is estimated that about 10%, or 30,000, will convert to robotic forklifts within five years. Conservatively priced at 50 million won per unit, this represents a potential market of 1.5 trillion won over five years, or 300 billion won annually, marking the start of an ambitious endeavor.

TIM Robotics has quickly gained traction, securing seed investment from Mashup Ventures and being selected for the third cohort of the K-GLOBAL SNU Unicorn Program by Seoul Techno Holdings, receiving additional seed funding and support for its global expansion initiatives.

TIM Robotics is set to demonstrate its capabilities not only in Greenfield environments but also in Brownfield sites, which have traditionally posed challenges for other robotics companies.

What problem does TIM Robotics aim to solve? 

TIM Robotics aims to automate logistics tasks in industrial settings such as manufacturing plants and distribution centers using mobile robots. Previously, systems such as Automated Guided Vehicles (AGVs) were used, requiring infrastructure and restricted to fixed routes.

Recent advances have introduced Autonomous Mobile Robots (AMRs) equipped with autonomous driving technology. However, these robots still face challenges in unstructured or variable environments; their system configurations lack usability and flexibility. These issues have made it difficult to integrate mobile robots into existing industrial facilities. TIM Robotics intends to provide mobile robot solutions that can also be implemented in currently operating Brownfield industrial sites.

How does TIM Robotics plan to solve this problem? 

TIM Robotics aims to address this challenge using robust autonomous driving technology and environmental awareness-based autonomous operation technology, rooted in sensor-fusion SLAM (Simultaneous Localization and Mapping). More specifically, in addition to generating three-dimensional maps of workspaces for mobile robot autonomy, TIM Robotics builds spatiotemporal hierarchical maps to detect environmental changes and automatically update maps, enabling continuous operation in variable environments. The integration of heterogeneous multi-sensor information, including LiDAR sensors and camera vision, provides global position estimation capabilities even in unstructured environments.

From a robot control perspective, TIM Robotics recognizes obstacles and road conditions within the travel path to control the optimal route and ensures efficiency and safety through optimal path planning for multiple robots. Lastly, using LiDAR and camera vision sensors, TIM Robotics recognizes workspaces and workpieces to automate logistics operations flexibly and easily.

What are TIM Robotics’ competitive advantages and technical strengths compared to its competitors? 

TIM Robotics possesses unparalleled competitive strength in robot software technology. While many competitors develop robot solutions tailored to Greenfield environments designed specifically for mobile robots, these solutions can only be applied in predefined, fixed environments and perform repetitive tasks. In contrast, TIM Robotics has technology that allows stable operation and flexibility in unstructured and variable environments, aiming to pioneer the Brownfield market, which has been challenging for mobile robots to enter.

What products does TIM Robotics offer? 

TIM Robotics provides industrial mobile robot solutions, currently focusing on developing autonomous forklift solutions. Forklifts and pallet trucks equipped with autonomous driving sensors and computers can recognize workspaces and perform pallet loading and unloading tasks automatically, even in unstructured and variable environments. The hardware is currently being designed and manufactured by a partner company, while TIM Robotics focuses on software development. The prototype is expected to be completed in the second half of 2024, with product launches planned for the first half of 2025. In the future, TIM Robotics plans to sell autonomous driving and multi-robot control solutions as separate software products.

What is the market size and who are the core target customers for TIM Robotics’ products? 

In Korea, approximately 300,000 forklifts are currently in operation, and it is expected that 10% will transition to robotic forklifts within the next five years. Estimating the price of one robotic forklift at 50 million won, an annual market of approximately 300 billion won is expected to form. If expanded to the global market, the robotic forklift market is estimated at about 12 trillion won, and the global mobile robot market at about 32 trillion won. TIM Robotics initially targets the domestic robotic forklift market, particularly planning to introduce solutions that can automate inefficient logistics operations without the need for additional infrastructure. The company plans to stabilize products and provide customized solutions through PoCs (Proofs of Concept) in logistics centers, manufacturing plants, and shipyards.

What is our business model? 

Our basic plan is to secure revenue by selling robot products. For autonomous forklifts, we plan to first introduce two units per customer to verify utility through PoCs before expanding their application. In the medium to long term, we also consider the RaaS (Robot-as-a-Service) model but plan to develop the business through collaboration with large partner companies after product stabilization. Additionally, we plan to secure additional revenue by selling software solutions to robot hardware manufacturers.

What are our team’s achievements so far? 

Since its establishment in February 2024, TIM Robotics has manufactured a prototype mobile robot for R&D, developed autonomous driving software, and successfully completed autonomous driving demonstrations in Brownfield manufacturing plants. At the request of a robot hardware manufacturer, we conducted a performance evaluation based on 3D SLAM, proving millimeter-level precision control and robust positioning performance in variable environments. Just four months after its establishment, in June, we attracted seed investment and were selected for several R&D projects, laying the foundation for significant growth. We are currently developing autonomous forklift solutions with Soosung Co., Ltd., a leading small forklift manufacturer, and discussing projects with several customers scheduled for delivery in 2025.

What is our team’s competitiveness? 

TIM Robotics was founded around a team of master’s and doctoral graduates specializing in SLAM, Multi-robot, and other mobile robot technologies, boasting global top-level competitiveness. We strive to solve real industrial problems and create industrial products that customers truly need, going beyond simple R&D. We also have experience in mass-producing robotics-based IoT sensors and successfully commercializing data analysis solutions in Korea and North America. Additionally, we have global business experience with robotics-based products in North America, Europe, and Asia. Based on our technical and commercialization experience and capabilities, TIM Robotics is a well-prepared deep-tech robotics startup ready to successfully drive the global industrial mobile robot business.

Three reasons why we need investment! 

First, TIM Robotics possesses differentiated competitive strengths in core mobile robot technologies. Second, based on our experience in commercializing industrial robot products, we deeply understand the problems and needs of B2B customers and develop robot solutions that provide them with real utility. Third, we have the potential to scale up the business through global expansion.