Extend Robotics Dragons’ Den Update

What did Arnold Schwarzenegger say to the movie execs when he found out they wanted more racial diversity in the Terminator movies?

I’ll be black.

Terminator seems to be coming back in a long-term but pretty real form and this time in real life. At least the robotic arms produced by Extend Robotics make it seem so.

For people who haven’t watched Terminator movies, this article is going to be about a Reed-based robotics firm’s appearance in the Den and the mechanics that followed.

Age of the Dragons is over and Age of the Machines is forthcoming. It will be interesting to read whether or not Extend Robotics could secure Dragons’ investment after denying their very existence.

Extend Robotics at a Glance: 

IdeaVirtual reality-based remote robotics
FounderChang Liu
Asked For£150,000 For 5%
Accepted Deal£150,000 For 25%
DragonPeter Jones
Business statusActive
Episode No.Season 19, Episode 1

Index:

What is Extend Robotics?

Extend Robotics is a Reading-based company that develops and manufactures human-robot interface software for a non-robotic expert to teleoperate and program robotic manipulators remotely for physical tasks. Extend Robotics was founded in 2019.

The founding team marries brilliant PostDoc-level technical minds from Imperial College London with commercial expertise garnered in the telecoms and energy sectors.

The company has built AMAS Solution to break the geographical limitation as displayed in the video below:

Who is the Founder of Extend Robotics?

Chang Liu is the founder, CEO, and Chief Designer of Extend Robotics.

He is a Bachelor of Engineering in Electronic Engineering from Newcastle University, a Master of Science in Artificial Intelligence, and a Doctor of Philosophy in Visual control of small remotely piloted aircraft in GPS-denied environments from the University of Southampton.

Before setting up Extend Robotics, Chang was a Research Associate at Imperial College London before that he served as the Head of Robotics in Inkonova, a Stockholm-based company involved in autonomous

Mapping and Inspection Robotics with Real-time Analytics for Underground Miners.

 Did Extend Robotics get a deal on Dragon’s Den?

The robotic setup that Chang presented in the Den had the Dragons wondering for some time before he arrived and demonstrated it.

He had one of the Dragons to personally test his robotic arm. The arm did fail to achieve its objective but the simulation of the VR teleoperation stuff was enough to prove the concept to the Dragons. 

The applications of this technology as explained by Chang could not be achieved by the practically available products at that time.

This confirmed the fact that it would take a minimum of five years of rigorous research and development to perfect the products and even then success could not be guaranteed as there could be competition waiting in the market.

This made the deal too risky and four Dragons slid out of it but Peter Jones had different ideas. Peter offered Chang the entire amount that he asked i.e. £150,000 for a 25% stake in the business.

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Chang accepted the deal without a counter which did not seem the wisest move but he got a Dragon onboard nonetheless.

 What happened to Extend Robotics after Dragon’s Den?

Extend Robotics entered into a partnership with Shadow Robots in 2020 aiming to take the industry of remote robotic operations to a whole new level as per Chang.

The company has also installed a virtual reality (VR) robotics showcase at AMRC North West to help the region’s businesses unlock the immense potential of robotic technology to boost their manufacturing processes as per The Manufacturer.

As expected by the Dragons in the Den, the company is yet to offer any marketable application-based product as of now.

Since it has hardly been a year since its Dragons’ Den appearance; it would be harsh to make any judgments.

However, one fact is clear that this was not a business that could benefit from the Dragons’ Den effect so the founder may have made an error of judgment by taking it to such a platform and even accepting the deal thereafter.

Product Details: 

It is human-robot interface software for non-robotic experts to teleoperate and program robotic manipulators remotely for physical tasks.

Its technology is in a very nascent stage. This implies that no marketable product manufactured by this company other than laboratory demonstrations exists as of now. 

Competitors of Extend Robotics:

Even though robotics technology is not in a state of even remotely replacing humans, Extend Robotics faces stiff competition from deep-pocketed rivals who are on track to develop the technology as fast as possible.

Some of these companies are:

What is the Net Worth of Extend Robotics?

Chang expected his robotics company’s worth to be £3 million before entering the Den. Four of the Dragons considered investing in the company equivalent to a gamble and preferred to stay aloof!

Peter Jones made an offer to Chang which valued his company at £600,000. This offer was accepted which set in stone the worth of the company for the first time.

The company has not been put to valuation since then but the work that it is doing on its technology seems to be immense.

This must have led to a growth in the company’s valuation but it can only be estimated by a professional in the industry or by an entrepreneur through an offer.

Is Extend Robotics still in Business?

Yes, Extend Robotics is actively in business as of 2023, its YouTube channel is very active and posts technical demonstrations every once in a while making it evident that Chang and his team are doing some highly technical work but it is all restricted to the limits of the organization. 

Extend Robotics endeavors to take footsteps in the direction of automating human life on a day-to-day basis which has the potential to completely revolutionize not just this planet but the entire universe.

We all should look forward to meeting some real terminators within our lifespans!

As the writer of this article, I promise you that I’ll be back!!.

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Do tell us all your thoughts in the comments section below, we look forward to reading all the comments.

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FAQs:

What is Extend Robotics?

Extend Robotics is a Reading-based company that develops and manufactures human-robot interface software for a non-robotic expert to teleoperate and program robotic manipulators remotely for physical tasks.

What's the net worth of Extend Robotics?

Extend Robotics is doing a lot of the work on its technology seems to be immense. This must have led to a growth in the company’s valuation but it can only be estimated by a professional in the industry or by an entrepreneur through an offer.

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