Invert Robotics raises €2.5m to expand Dublin R&D centre

7 Dec 2023

From left: Neil Fletcher and Stephen Burdock. Image: Nick Bradshaw

Established in New Zealand, the company moved its base to Dublin in 2021 and is chaired by Kevin Toland.

Invert Robotics, a deep-tech company headquartered in Ireland, has raised an additional €2.5m in its funding round to invest in the growth of its research and development centre in Dublin.

The investment marked the second close of a €12.9m funding round and was led by Business Venture Partners (BVP) and US investor TechNexus Venture Collaborative. This adds to a previous €10m investment led by Orlen VC and brings total funding raised to date to €25m.

A robotic inspection company, Invert Robotics moved its headquarters from New Zealand to Ireland in early 2021, when it first announced the creation of its R&D team here. It also announced the creation of 25 jobs over three years at the time.

Now, the latest funding will be used to support the growth of this R&D centre in Dublin, as well as its robot product sales division and existing inspection services offering.

“Invert’s solution is the future of asset maintenance, as our robots can go where other robots cannot and people should not,” said Neil Fletcher, CEO of Invert Robotics.

“This investment from the 2022 BVP EIIS (Employment Investment Incentive Scheme) Fund further supports our vision of removing workers from all hazardous inspection environments, ensuring every worker goes home safely every day.”

Invert Robotics, which also has offices across New Zealand, the Netherlands, Australia, Germany, France and the US, counts among its clients some of the world’s biggest food production, chemicals, pharmaceutical, aerospace and energy companies.

The company helps these clients make the process of inspecting and maintaining industrial assets that can often be in hazardous and toxic environments more efficient and safe.

“Invert Robotics’ robots can cling tightly to any surface and enable non-destructive, high-precision inspections on any asset deemed difficult to reach or dangerous, which increases safety metrics, reduces FTE [full-time equivalent] costs and improves time for inspection for our corporate partners,” said Terry Howerton, CEO of TechNexus Venture Collaborative.

“Our team is excited to continue playing a role in Invert Robotics’ growth journey and looks forward to supporting the expansion of their product sales division.”

Led by chair Kevin Toland, Invert Robotics currently has 37 employees across the world, eight of whom are based in Ireland.

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Vish Gain is a journalist with Silicon Republic